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of <h1>SEBI Amends AIF Regulations to Introduce Special Situation Funds, Sets Investment and Eligibility Criteria for SSFs.</h1> The Securities and Exchange Board of India (SEBI) has amended the Alternative Investment Funds (AIF) Regulations, 2012, introducing Special Situation Funds (SSF) as a sub-category under Category I AIFs. SSFs will invest in 'special situation assets' and must have a minimum corpus of 100 crore rupees. Investment requirements vary, with a minimum of 10 crore rupees per investor, reduced to 5 crore for accredited investors, and 25 lakh for SSF employees or directors. SSFs acting as resolution applicants under the Insolvency and Bankruptcy Code must meet eligibility requirements. SSFs acquiring stressed loans must adhere to specific guidelines, including a six-month lock-in period. This circular is effective immediately.
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