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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Allows Provisional Registration for Existing Collective Investment Schemes with Conditions Under Rule 11AA</h1> The Securities and Exchange Board of India (SEBI) may grant provisional registration to applicants of existing collective investment schemes if they fulfill certain conditions. These conditions include obtaining a credit rating, audit, and appraisal of the schemes within two years, establishing a trust with appointed trustees, complying with accounting norms, and achieving a specified net worth incrementally over five years. Applicants must also refrain from disposing of scheme property except as specified and adhere to additional conditions imposed by SEBI. Failure to meet these conditions results in ineligibility for full registration and requires winding up the scheme.
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