Winding up: specified fund events and regulator direction trigger closure and require Board and investor notification. Regulation 23 requires winding up a trust-based venture capital scheme on expiry of the placement memorandum period, trustees' opinion that winding up is in investors' interests, a specified investor resolution, or Board direction; corporate or body corporate funds must be wound up under their constituting statute. Trustees or the board must intimate the Board and investors of the circumstances leading to winding up.
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.
Winding up: specified fund events and regulator direction trigger closure and require Board and investor notification.
Regulation 23 requires winding up a trust-based venture capital scheme on expiry of the placement memorandum period, trustees' opinion that winding up is in investors' interests, a specified investor resolution, or Board direction; corporate or body corporate funds must be wound up under their constituting statute. Trustees or the board must intimate the Board and investors of the circumstances leading to winding up.
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