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of <h1>SEBI Amends AIF Regulations: New Flexibility in Winding-Up Process with Liquidation Schemes and In-Specie Distribution Options.</h1> The Securities and Exchange Board of India (SEBI) has amended the Alternative Investment Funds (AIF) Regulations, 2012, effective June 15, 2023, to allow AIFs more flexibility during the winding-up process. AIFs can now either sell unsold investments to a new 'Liquidation Scheme' or distribute them in-specie, subject to 75% investor approval by value. The circular outlines procedures for launching a Liquidation Scheme, including obtaining investor consent, arranging bids, and reporting to Performance Benchmarking Agencies. If consent is not obtained, unliquidated investments will be mandatorily distributed in-specie. Compliance responsibility rests with AIF managers and trustees.
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