https://www.taxtmi.com/circulars?id=66578 The circular revises sponsor regulation by requiring AMCs to deploy the minimum net worth in liquid, unencumbered instruments; permitting acquisition funding by borrowings only where sponsors have other encumberable assets and requiring incremental capitalization to be funded from acquirer net worth; restricting pooled vehicle sponsors to private equity funds subject to experience, track record and safeguards including prohibition of specified off-market transactions and lock-in of initial shareholding; and establishing conditions, reporting, trustee composition and timelines for voluntary sponsor disassociation and for an AMC to qualify as a self-sponsored AMC, with provisions for re-association and unitholder exit without exit load. en-us Fri, 07 Jul 2023 00:00:00 +0530 Fri, 07 Jul 2023 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66578 The circular revises sponsor regulation by requiring AMCs to deploy the minimum net worth in liquid, unencumbered instruments; permitting acquisition funding by borrowings only where sponsors have other encumberable assets and requiring incremental capitalization to be funded from acquirer net worth; restricting pooled vehicle sponsors to private equity funds subject to experience, track record and safeguards including prohibition of specified off-market transactions and lock-in of initial shareholding; and establishing conditions, reporting, trustee composition and timelines for voluntary sponsor disassociation and for an AMC to qualify as a self-sponsored AMC, with provisions for re-association and unitholder exit without exit load. Circulars SEBI Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66578