On August 19, 2024, the Securities and Exchange Board of India (SEBI) has released the Category-I and Category-II Alternative Investment Funds (AIF) taken by loan and large value funds for the concerned recipient (LVF) New nominations have been submitted for most workshop ranges of the mandate.
These new securities have been introduced by amending the Securities and Electronic Board of India (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) and are notified on August 6, 2024.
Description,
Under the new elasticity, Category-I and Category-II AIFs will be given certain funding requirements and borrowing limits to meet their day-to-day operational needs, but with a cap on the borrowing limit. 30 day It should not be more than this.
Second.Ujra mostly in a year 4 Times can be taken, and the investible funds 10% shall not exceed this number and shall consist of such number of employees as may be prescribed by SEBI from time to time.
It aims to promote ease of doing business and offer AIFs an opportunity to venture into the industry.
SEBI has also prescribed additional exemptions for Category-I and Category-II AIFs that wish to borrow for the purpose of meeting shortfall in the drawdown amount, such as:
If the AIF wishes to borrow funds to meet the shortfall in the drawdown amount, direct it to private privatise the scheme (ppm) This needs to be disclosed in the.
The amount borrowed is proportional to the proposed investment going into the investment company. 20% From More No The borrowing should not exceed 10% of the value of the apartments from the investment funds or other assets of the AIF scheme, and such borrowing should be done only with approved funds.
The cost of such borrowing shall be charged only to such investor(s) who is late in making the payment of the drawdown exercise to you, as per SEBI.
It is mandatory for the shop manager to disclose the details regarding the amount borrowed, the quantum of borrowing and repayment thereof, on the basis of AIR, to all the participants of the AIF/Scheme as well as to all the participants of the AIF/Scheme.
SEBI has mandated all Category-I and II AIFs to maintain a cooling off period of 30 days between two periods of lending permitted under the AIF regulations.
Additionally, the cooling period of 30 days will be calculated from the date of repayment of the previous loan.
According to, LVF is now worth as much as the value of their investment in LVF , Holders Of Two,, (2/3) The amount sanctioned for a period of up to 5 years with its consent and the amount released under any permanent LVF scheme may be extended by SEBI from time to time.
However, the certainty of stable LVF sample expansion has not been disclosed or the duration of dimension expansion 5 Year From More yes, they have been told the date of this doll is within 3 months 18 Om 2024 It is necessary to re-mark the extension period on or before.
Such LVF defines shall be required to update their period of extension in enrolment in the latest quarterly report on the SEBI Intermediaries Portal (SI Portal) for the quarter ending December 31, 2024.Time to re-mark the extension period in CIL, LVF nomination is required to get its original series approved for all the enterprises of the scheme.
On August 19, 2024, SEBI has given relief to venture capital funds A new framework has been introduced for changes in AIF. SEBI had done this before the introduction of AIF Independent in July 2024 SEBI 1996 Registered VCFs are permitted to issue registered VCFs under the Registered VCF Act.
- This amendment has been introduced in the Indian Mosque and Electronic Fund (Alternative Investment Fund) Corporation, 2012 (“AIF Enterprises”) and has been notified on 20th July 2024.
- Now, VCFs have a Cancel option to cancel the nomination in AIF Indians after the expiry of the nomination period. This option 19 july 2025 Available till.
A ‘Migrated VCF’ is a VCF that transitions or shapes up to become a sub-category of VCF under Grade-I AIF as per the AIF category.
As per the new, on the application form, the VCF who wishes to migrate will have to submit their original registration certificate and specific information as required by SEBI approval.
SEBI has released the activation notification for VCF:
- If the approval period for such eligibility has not expired, the VCF may continue with the duration of the plan up to the maximum that was initially stated or determined with the approval of the Secretary.
- If the liquidation period has expired, any unsettled investor does not have the right to file a petition and they will have to wait for an additional year till July 19, 2025 for liquidation.
After considering the migration, SEBI mentioned that after the migration the stable investors, investments and units will be transferred under the AIF regulations without any change.
If the option for .VCF is not selected for notification, then, VCFs with active approvals will be subjected to strict notification provisions and VCFs with expired approvals may face regulatory action.
Further, for VCFs which have at least one scheme maturity period (in terms of VCF January 24(2)) expired, they shall be owned by the VCF for a continuous period until the end of their original project period.
As per the new ledger, the VCF has said that all banks which have closed their registry or have not made any new investments will have to get themselves registered by March 31, 2025.
