Restricted scheme structure governs open or closed ends, tenure extensions, investor approvals, dissenting investor exits, and permitted IFSC forms.

Restricted schemes may be open-ended or close-ended. A close-ended scheme must disclose its proposed fundraising amount and a tenure of at least one year in the placement memorandum. Its tenure may be extended by up to two years with approval of two-thirds of investors by investment value. Any further extension requires express consent from willing investors and an exit opportunity for dissenting investors. Restricted schemes must be constituted in an IFSC as a company, limited liability partnership, or trust.

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