Venture capital fund approval requires a detailed Form 56A application listing governance, investments, accounts and supporting documents.

Form No. 56A prescribes the application for approval of a Venture Capital Fund or Venture Capital Company, requiring identification and formation documents, objects, capital structure, present business activities, accounting policies, systems and internal controls, associate organisations and investee details, management and organisational structure, bankers and auditors, and litigation history; the application must be signed and verified and submitted in duplicate to the Director of Income-tax (Exemptions) with constitutional documents, SEBI registration certificate, three years' financial statements, and Forms 56B and 56C.

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