Interval scheme rules require listing and restrict redemptions to specified transaction periods, with strict NAV cut-off and fund availability conditions. Interval schemes must be listed and permit redemption only during a specified transaction period of minimum two working days, with each interval at least fifteen days; investments are limited to securities maturing on or before the opening of the next specified transaction period, including constraints on put/call residual periods. Uniform NAV cut-off rules require applications and full subscription funds to be credited and available for utilization before the cut-off without availing credit, with parallel requirements for switch-ins and for income/debt schemes.
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.
Interval scheme rules require listing and restrict redemptions to specified transaction periods, with strict NAV cut-off and fund availability conditions.
Interval schemes must be listed and permit redemption only during a specified transaction period of minimum two working days, with each interval at least fifteen days; investments are limited to securities maturing on or before the opening of the next specified transaction period, including constraints on put/call residual periods. Uniform NAV cut-off rules require applications and full subscription funds to be credited and available for utilization before the cut-off without availing credit, with parallel requirements for switch-ins and for income/debt schemes.
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