Asset management company duties: ensure qualified personnel, valuer independence, internal controls and banked transactions for real estate funds. Regulation 49G requires the asset management company of a real estate mutual fund scheme to appoint qualified key personnel, engage advisors as needed, and select real estate valuers without conflicts of interest. The AMC must implement internal controls and risk management, route all financial transactions through banking channels, maintain and insure assets to avoid deterioration, keep maintenance and insurance costs reasonable (certified annually by a valuer), enforce valuer rotation, document acquisition and disposal decisions for trustees, ensure conformity with the trust deed and chapter, and obtain prior in-principle exchange approval for listings where required.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Asset management company duties: ensure qualified personnel, valuer independence, internal controls and banked transactions for real estate funds.
Regulation 49G requires the asset management company of a real estate mutual fund scheme to appoint qualified key personnel, engage advisors as needed, and select real estate valuers without conflicts of interest. The AMC must implement internal controls and risk management, route all financial transactions through banking channels, maintain and insure assets to avoid deterioration, keep maintenance and insurance costs reasonable (certified annually by a valuer), enforce valuer rotation, document acquisition and disposal decisions for trustees, ensure conformity with the trust deed and chapter, and obtain prior in-principle exchange approval for listings where required.
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