Dematerialisation requirement: AIF investments must be held in dematerialised form and custodians appointed, with reporting obligations. AIFs must hold any investment made on or after October 1, 2024 in dematerialised form; pre-existing investments are exempt except where the investee is legally mandated to dematerialise or the AIF (alone or with certain intermediaries) exercises control, in which case those investments must be dematerialised by January 31, 2025. Custodians registered with SEBI must be appointed before a scheme's first investment; specified existing Category I and II schemes must appoint custodians by January 31, 2025. The SFA, with SEBI, will set reporting standards for managers and custodians, which must be adopted and reflected in quarterly reporting and Compliance Test Reports.
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.
Dematerialisation requirement: AIF investments must be held in dematerialised form and custodians appointed, with reporting obligations.
AIFs must hold any investment made on or after October 1, 2024 in dematerialised form; pre-existing investments are exempt except where the investee is legally mandated to dematerialise or the AIF (alone or with certain intermediaries) exercises control, in which case those investments must be dematerialised by January 31, 2025. Custodians registered with SEBI must be appointed before a scheme's first investment; specified existing Category I and II schemes must appoint custodians by January 31, 2025. The SFA, with SEBI, will set reporting standards for managers and custodians, which must be adopted and reflected in quarterly reporting and Compliance Test Reports.
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