Term Sheet Requirement: Angel funds must file a scheme term sheet specifying material information and compliance particulars. SEBI requires Angel Funds to file a prescribed term sheet when launching schemes, containing material information (investee profile, investment size, securities, valuation, fees, exit provisions, distribution waterfall, lock-in and co-investment). The term sheet must be filed with the Board within ten days of scheme launch and follow Annexure II. Amendments update references to the Companies Act, 2013 and state that the Companies Act applies to Angel Funds formed as companies. The term sheet must evidence compliance with AIF provisions including investor lists, corpus conditions, investment limits, sponsor and manager continuing interest, investor approvals, and material change reporting.
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.
Term Sheet Requirement: Angel funds must file a scheme term sheet specifying material information and compliance particulars.
SEBI requires Angel Funds to file a prescribed term sheet when launching schemes, containing material information (investee profile, investment size, securities, valuation, fees, exit provisions, distribution waterfall, lock-in and co-investment). The term sheet must be filed with the Board within ten days of scheme launch and follow Annexure II. Amendments update references to the Companies Act, 2013 and state that the Companies Act applies to Angel Funds formed as companies. The term sheet must evidence compliance with AIF provisions including investor lists, corpus conditions, investment limits, sponsor and manager continuing interest, investor approvals, and material change reporting.
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