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  • SEBI amends the AIF Regulations to pave way for introduction of Special Situation Funds

    SEBI amends the AIF Regulations to pave way for introduction of Special Situation Funds

    SEBI has enacted the “Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2022”, vide a notification dated 24 January 2022, to amend the AIF regulations, which inter alia provides for a framework for Special Situation Funds (“SSFs”)

  • AIFs to file Private Placement Memorandum (PPM) with SEBI through registered Merchant Bankers

    AIFs to file Private Placement Memorandum (PPM) with SEBI through registered Merchant Bankers

    SEBI vide its Circular no. SEBI/HO/IMD/IMD-I/DF6/P/CIR/2021/645 dated October 21,2021[1] have specified the Modalities for filing of placement memorandum through a Merchant Banker. Earlier on 13th August 2021 SEBI made amendment in the AIF regulations[2] to mandate that Placement memorandum shall

  • Remuneration to India Fund Manager of Offshore Funds

    Remuneration to India Fund Manager of Offshore Funds

    Pursuant to the recent notification by the Central Board of Direct Taxes (“CBDT”), there has been an amendment to the income tax rules in relation to the minimum remuneration payable by an offshore fund to its India based fund manager (“Fund

    Sharda Balaji
    By Sharda Balaji about 4 years ago
  • Opportunities and Challenges for AIFs in India’s first IFSC, GIFT City, Gujarat.

    Opportunities and Challenges for AIFs in India’s first IFSC, GIFT City, Gujarat.

    We are pleased to share with you an article that our Founder Sharda Balaji along with our Associate Avaneesh Satyang contributed to the 2nd volume, Issue 2 of the KNOWLEDGEex Magazine released by Indian Association of Alternative Investment Funds (IAAIF).

    Sharda Balaji
    By Sharda Balaji about 5 years ago
  • The Head and Tail of Side Letters in Alternative Investment Funds

    The Head and Tail of Side Letters in Alternative Investment Funds

    This article was first published by IAAFI - Indian Association of Alternative Investment Funds A side letter is a document or a letter that is ancillary to another existing contract. In investment world, Side letter would mean something over and

    SM
    By Sohini Mandal over 5 years ago
  • Case Study: SEBI Settlement Order in the Matter of SREI Multiple Asset Investment Trust (a Category II AIF)

    Case Study: SEBI Settlement Order in the Matter of SREI Multiple Asset Investment Trust (a Category II AIF)

    In this post, we look into the Adjudicating Officer’s (“AO”) Order dated November 29, 2017, in the matter of SREI Multiple Asset Investment Trust (“Fund”) and SREI Alternative Investment Managers Limited (“Investment Manager”) and the way the matter proceeded further,

    AS
    By Avaneesh Satyang over 5 years ago
  • Significant Beneficial Ownership: Who is the real owner of the shares?

    Significant Beneficial Ownership: Who is the real owner of the shares?

    The recent changes to Section 90 of Companies Act, 2013, is to determine the identity of the person behind the curtain who is having a significant ownership of the company and is essentially controlling the management and daily affairs of

    Sharda Balaji
    By Sharda Balaji almost 6 years ago
  • Fund Formation: On-Shore and Off-Shore Structures

    Fund Formation: On-Shore and Off-Shore Structures

    Global interest in the LP (Limited Partner) ecosystem, for investments in India focused businesses, is at an all-time high. According to recent surveys, about 108 India focused private equity firms are in the market looking to raise funds. The first

    Sharda Balaji
    By Sharda Balaji almost 6 years ago
  • Post Formation Compliance Requirements for Alternative Investment Funds (AIFs)

    Post Formation Compliance Requirements for Alternative Investment Funds (AIFs)

    AIFs are privately pooled investment funds in India, typically set up in the form of a trust or a company or a body corporate or a Limited Liability Partnership (LLP). Please see our previous post to read more on a

    AD
    By Alivia Das almost 6 years ago
  • Regulatory update: SEBI - Overseas Investment by Alternate Investment Funds (AIFs)/ Venture Capital Funds (VCFs)

    Regulatory update: SEBI - Overseas Investment by Alternate Investment Funds (AIFs)/ Venture Capital Funds (VCFs)

    SEBI vide circular no. SEBI/HO/IMD/DF1/CIR/2018/103/2018 dated 3 July 2018 with the consultation of the Reserve Bank of India (RBI) has decided to enhance the limit from USD 500 (five hundred) million to USD 750 (Seven Hundred Fifty) million, in terms

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