https://www.taxtmi.com/notifications?id=133195 The Regulations add an inducted sponsor definition and broaden sponsor-related definitions to include certain institutional investors. They permit de-classification of a sponsor after listed status for a statutory period, subject to conditions including a cap on sponsor-and-associate unit holding, independence of the investment manager from the sponsor, and unit-holder approval. The amendments cap maximum subscription by any non-sponsor investor in initial offers, restrict acquisitions that would exceed a prescribed share of outstanding units without super-majority approval, and require exit options where such approval is not obtained; sponsor changes or control transfers also require super-majority approval or mandated exit remedies. en-us Tue, 16 Jun 2020 00:00:00 +0530 Tue, 16 Jun 2020 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=133195 The Regulations add an inducted sponsor definition and broaden sponsor-related definitions to include certain institutional investors. They permit de-classification of a sponsor after listed status for a statutory period, subject to conditions including a cap on sponsor-and-associate unit holding, independence of the investment manager from the sponsor, and unit-holder approval. The amendments cap maximum subscription by any non-sponsor investor in initial offers, restrict acquisitions that would exceed a prescribed share of outstanding units without super-majority approval, and require exit options where such approval is not obtained; sponsor changes or control transfers also require super-majority approval or mandated exit remedies. Notifications SEBI Tue, 16 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=133195