Relaxation in requirement of intimation of changes in the terms of Private Placement Memorandum of Alternative Investment Funds through Merchant Banker
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Relaxation in intimation requirement allows direct filing of specified PPM changes with SEBI and exempts LVFs with CEO undertaking. SEBI permits specified changes to AIF Private Placement Memoranda to be filed directly with SEBI rather than through a merchant banker, enumerating eligible PPM sections and routine updates in Annexure A. Large Value Funds for Accredited Investors are exempted from the merchant banker requirement but must file changes with a CEO and Compliance Officer undertaking in the Annexure B format, confirming due diligence, regulatory compliance, and adequacy of disclosures.
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Relaxation in intimation requirement allows direct filing of specified PPM changes with SEBI and exempts LVFs with CEO undertaking.
SEBI permits specified changes to AIF Private Placement Memoranda to be filed directly with SEBI rather than through a merchant banker, enumerating eligible PPM sections and routine updates in Annexure A. Large Value Funds for Accredited Investors are exempted from the merchant banker requirement but must file changes with a CEO and Compliance Officer undertaking in the Annexure B format, confirming due diligence, regulatory compliance, and adequacy of disclosures.
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