The Securities and Exchange Board of India (SEBI) on May 18, 2023, issued the Consultation paper on the proposed amendment to SEBI (Alternative Investment Funds) Regulations, 2012 to strengthen governance mechanisms of Alternative Investment Funds.
The Exchange has issued the consultation paper to seek comments and inputs from stakeholders and the public on the following proposals for amendment to SEBI (Alternative Investment Funds) Regulations, 2012, with the objective of strengthening governance mechanisms of AIFs:
• To specify the guidelines for borrowing by Category I and II AIFs;
• To mandate AIFs to hold their securities/investments in Demat form only;
• To extend the mandate for appointment of custodians to all AIFs and to prescribe the role of custodians appointed by AIFs; 1
• To specify the maximum extension of tenure by Large Value Fund for Accredited Investors (LVFs); and
• To mandate renewal of registration of AIFs.
The comments/suggestions may be provided in an MS Excel file as per the format given in the document. The Comments as per aforesaid format may be sent to the following, latest by May 31, 2023, in any of the following manners:
• Preferably by email to [email protected], with a copy to Shri Kunwar Abhay Singh, Manager ([email protected]) and Shri Sachin Kisan Jadhav, Manager ([email protected])
• By post to: Shri Sanjay Singh Bhati, Deputy General Manager, Alternative Investment Fund and Foreign Portfolio Investors Department, Securities and Exchange Board of India, SEBI Bhavan, C4-A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051
