Eligibility criteria for Mutual Fund Lite require sponsor financial soundness and governance safeguards before registration is permitted. Regulation 81 prescribes eligibility for registration as a Mutual Fund Lite, requiring sponsor financial soundness and reputation-positive net worth continuity, positive liquid net worth tied to capital contribution or acquisition value, profitability in most recent years, and a minimum average profit-or alternatively prescribed capitalization, locked in sponsor shareholding, experienced senior personnel, and liquid net worth commensurate with acquisitions. Applicants must be fit and proper; existing funds must be trusts with Board approved deeds; sponsor contribution and sponsor conduct conditions apply; and trustees, an asset management company, and a custodian must be appointed.
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.
Eligibility criteria for Mutual Fund Lite require sponsor financial soundness and governance safeguards before registration is permitted.
Regulation 81 prescribes eligibility for registration as a Mutual Fund Lite, requiring sponsor financial soundness and reputation-positive net worth continuity, positive liquid net worth tied to capital contribution or acquisition value, profitability in most recent years, and a minimum average profit-or alternatively prescribed capitalization, locked in sponsor shareholding, experienced senior personnel, and liquid net worth commensurate with acquisitions. Applicants must be fit and proper; existing funds must be trusts with Board approved deeds; sponsor contribution and sponsor conduct conditions apply; and trustees, an asset management company, and a custodian must be appointed.
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