Tenure rules for migrated venture capital funds allow limited extension subject to unit holder approval and mandatory winding up. Tenure of a migrated venture capital fund is to be determined by the Board; extension of tenure may be permitted up to two years with approval of two thirds of unit holders by value, failing which the fund or scheme must be wound up. Schemes with assets not liquidated before migration may be granted an additional liquidation period subject to Board conditions, without prejudice to regulatory directions or measures.
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.
Tenure rules for migrated venture capital funds allow limited extension subject to unit holder approval and mandatory winding up.
Tenure of a migrated venture capital fund is to be determined by the Board; extension of tenure may be permitted up to two years with approval of two thirds of unit holders by value, failing which the fund or scheme must be wound up. Schemes with assets not liquidated before migration may be granted an additional liquidation period subject to Board conditions, without prejudice to regulatory directions or measures.
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