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 […]
Securities Exchange Board of India (“SEBI”), vide its notification dated April 25, 2024, has notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2024 (“AIF Amended Regulations”), thereby amending the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), with an aim to provide: (a) ease of doing business and flexibility to Category I and II […]
Securities and Exchange Board of India (“SEBI”), vide its circular dated April 18, 2024, has addressed the standardization of Private Placement Memorandums (“PPMs”) audit reports for Alternative Investment Funds (“AIFs”). Regulation 28 of the SEBI (AIF) Regulations, 2012 and Clause 2.4 of Master Circular for AIFs, mandates AIFs to carry out an annual audit of […]
On January 5, 2024, Securities and Exchange Board of India (“SEBI”) had notified the SEBI (Alternative Investment Funds) (Amendment) Regulations, 2024 (“AIF Amendment Regulations”), which mandated Alternative Investment Funds (“AIFs”) to hold their investments in dematerialised form and required sponsors or managers of AIFs to appoint a custodian registered with SEBI for safekeeping of the […]
Reserve Bank of India (“RBI”), vide its notification dated December 19, 2023, has issued a circular with instructions on the procedure to be followed by the Regulated Entities (“REs”) in order to make investments in units of Alternative Investment Funds (“AIFs”), and to address concerns relating to possible evergreening through this route. REs make investments […]
