Dematerialisation of AIF units requires use of an Aggregate Escrow Demat Account until investors provide demat details. Mandates dematerialisation of AIF units and requires units for investors who have not provided demat details to be credited to a designated Aggregate Escrow Demat Account; transfers from that account are restricted to transfers into investors' demat accounts upon receipt of demat details within five working days, with investor wise KYC, bank details, audit trail, and monthly reporting to Depositories and Custodians, and adherence to implementation standards jointly formulated by industry and depositories.
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Provisions expressly mentioned in the judgment/order text.
Dematerialisation of AIF units requires use of an Aggregate Escrow Demat Account until investors provide demat details.
Mandates dematerialisation of AIF units and requires units for investors who have not provided demat details to be credited to a designated Aggregate Escrow Demat Account; transfers from that account are restricted to transfers into investors' demat accounts upon receipt of demat details within five working days, with investor wise KYC, bank details, audit trail, and monthly reporting to Depositories and Custodians, and adherence to implementation standards jointly formulated by industry and depositories.
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