‘Green-Channel: AIF Rollout Upon Document Acknowledgement’ (GARUDA) Mechanism for Processing of Placement Memorandum of Alternative Investment Funds (AIFs) filed with SEBI
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GARUDA mechanism streamlines AIF PPM filing, enabling differentiated scheme launches while retaining disclosure accountability and due-diligence obligations. The GARUDA mechanism permits regular AIF schemes to launch after 10 working days from PPM filing, subject to a SEBI-registered merchant banker's independent due diligence and prescribed filings. AI-only funds, LVFs and Angel Funds are exempt from merchant banker filing and SEBI-comment requirements, with AI-only funds and LVFs able to launch upon PPM filing and Angel Funds able to circulate PPMs after registration. Managers, merchant bankers where applicable, and designated officers remain responsible for accurate, complete and compliant PPM disclosures.
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.
GARUDA mechanism streamlines AIF PPM filing, enabling differentiated scheme launches while retaining disclosure accountability and due-diligence obligations.
The GARUDA mechanism permits regular AIF schemes to launch after 10 working days from PPM filing, subject to a SEBI-registered merchant banker's independent due diligence and prescribed filings. AI-only funds, LVFs and Angel Funds are exempt from merchant banker filing and SEBI-comment requirements, with AI-only funds and LVFs able to launch upon PPM filing and Angel Funds able to circulate PPMs after registration. Managers, merchant bankers where applicable, and designated officers remain responsible for accurate, complete and compliant PPM disclosures.
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