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<h1>SEBI Regulation 29: Conditions for Winding Up Alternative Investment Funds and Liquidation Procedures Explained</h1> Regulation 29 of the SEBI (Alternative Investment Funds) Regulations, 2012 outlines the conditions under which an Alternative Investment Fund (AIF) must be wound up. AIFs structured as trusts, LLPs, companies, or other corporate entities must be wound up upon the conclusion of their tenure, by resolution of 75% of investors, by trustee or board decision, or by SEBI's directive. The regulation mandates notification to the Board and investors, cessation of further investments, and liquidation of assets within a specified period. Provisions for in-specie distribution and extensions to the liquidation period are also included, with specific conditions set by SEBI. Upon winding up, the AIF must surrender its registration certificate.