Eligible investment fund status limits Indian participation and prescribes fund-manager, diversification, and reporting conditions. Conditions for non-recognition of business connection require a non-resident eligible investment fund to meet jurisdictional residence criteria, investor-protection oversight, membership and participation ceilings, diversification and corpus requirements, prohibition on managing business in India or creating business connections through agents (except eligible fund manager activities), prescribed minimum fund-manager remuneration, and annual filing of a compliance statement; the eligible fund manager must be independent, registered under specified regulations, act in the ordinary course, and have profit entitlements capped.
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.
Eligible investment fund status limits Indian participation and prescribes fund-manager, diversification, and reporting conditions.
Conditions for non-recognition of business connection require a non-resident eligible investment fund to meet jurisdictional residence criteria, investor-protection oversight, membership and participation ceilings, diversification and corpus requirements, prohibition on managing business in India or creating business connections through agents (except eligible fund manager activities), prescribed minimum fund-manager remuneration, and annual filing of a compliance statement; the eligible fund manager must be independent, registered under specified regulations, act in the ordinary course, and have profit entitlements capped.
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