Overseas investment eligibility for AIFs/VCFs: new jurisdictional, due diligence and reporting requirements govern permissible investments. AIFs/VCFs must apply for allocation of an overseas investment limit using the prescribed format and submit trustee/manager undertakings; investments are permitted only in overseas investees incorporated in jurisdictions whose securities regulator is an IOSCO MMoU signatory or has a bilateral MoU, and are prohibited in jurisdictions identified by FATF for strategic AML/CFT deficiencies; transfers may be made only to entities eligible under FEMA/RBI rules, liquidation proceeds are available for reinvestment across funds, and specified reporting of investments and divestments to the regulator is mandatory within prescribed timelines.
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.
Overseas investment eligibility for AIFs/VCFs: new jurisdictional, due diligence and reporting requirements govern permissible investments.
AIFs/VCFs must apply for allocation of an overseas investment limit using the prescribed format and submit trustee/manager undertakings; investments are permitted only in overseas investees incorporated in jurisdictions whose securities regulator is an IOSCO MMoU signatory or has a bilateral MoU, and are prohibited in jurisdictions identified by FATF for strategic AML/CFT deficiencies; transfers may be made only to entities eligible under FEMA/RBI rules, liquidation proceeds are available for reinvestment across funds, and specified reporting of investments and divestments to the regulator is mandatory within prescribed timelines.
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