Securities and Exchange Board of India (“SEBI”), vide its circular dated July 20, 2024, had amended the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), to provide flexibility to Venture Capital Funds (“VCFs”) registered under the erstwhile SEBI (VCF) Regulations, 1996 (“VCF Regulations”), for migrating to the AIF Regulations and to, inter alia, avail the […]
Securities and Exchange Board of India (“SEBI”), vide its notification dated August 5, 2024, has notified the SEBI (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024 (“AIF Amendment Regulations”), thereby amending the SEBI (Alternative Investment Funds) Regulations, 2012 (“Principal AIF Regulations”). Key amendments were introduced regarding (a) borrowing by Category I Alternative Investment Fund (“Cat-I AIF”) […]
Securities Exchange Board of India (“SEBI”), vide its notification dated July 11, 2024, has notified the SEBI (Alternative Investment Funds) (Third Amendment) Regulations, 2024 (“Migrated VC Fund Amendment Regulations”) and thereby amended the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). The Migrated VC Fund Amendment Regulations introduced Chapter III-D specifically to govern “migrated venture […]
Securities Exchange Board of India (“SEBI”), vide its circular dated July 9, 2024, has laid down framework for the filing requirements by scheme of Alternative Investment Funds (“AIFs”) opting for dissolution period or additional liquidation period as well as conditions for ‘In-Specie Distribution of Assets of AIFs’. Filing requirements for schemes of AIFs entering into […]
Securities Exchange Board of India (“SEBI”), vide its notification dated May 10, 2024, issued certification requirements for the key investment team of the manager of the Alternative Investment Fund (“AIF”). The said notification mandates that at least 1 key personnel, amongst the associated persons functioning in the key investment team of an AIF manager shall […]
Securities Exchange Board of India (“SEBI”), vide its circular dated April 29, 2024, based on the feedback received from the market participants has relaxed the requirement of intimating changes in the terms of the Private Placement Memorandum (“PPM”) of AIFs through merchant bankers and SEBI has identified that certain changes in the terms of the […]
