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of <h1>Regulation 23: Conditions for Winding Up Venture Capital Funds Explained for Trusts, Companies, and Bodies Corporate.</h1> Regulation 23 of the SEBI (Venture Capital Funds) Regulations, 1996, outlines the conditions for winding up a venture capital fund. A fund set up as a trust is wound up when its scheme period ends, trustees deem it necessary for investor interests, 75% of investors pass a resolution, or if directed by the Board. For funds established as companies, winding up follows the Companies Act, 1956. Funds set up as bodies corporate adhere to their constituting statute. Trustees or directors must inform the Board and investors about the winding-up circumstances.
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