https://www.taxtmi.com/circulars?id=67737 SEBI permits Category I and II AIFs to borrow only for temporary operational needs and, additionally, to cover shortfalls in investor drawdowns for imminent investments as an emergency measure, subject to disclosure in the PPM, exhaustion of efforts to obtain the drawdown, borrowing caps tied to the investment amount/investable funds/other undrawn commitments (whichever is lower), charging borrowing costs solely to defaulting investor(s), prohibition on using this flexibility to vary drawdown timelines, periodic investor disclosure of terms and repayments, and a thirty-day cooling-off between permissible borrowings measured from repayment. en-us Mon, 19 Aug 2024 00:00:00 +0530 Tue, 20 Aug 2024 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67737 SEBI permits Category I and II AIFs to borrow only for temporary operational needs and, additionally, to cover shortfalls in investor drawdowns for imminent investments as an emergency measure, subject to disclosure in the PPM, exhaustion of efforts to obtain the drawdown, borrowing caps tied to the investment amount/investable funds/other undrawn commitments (whichever is lower), charging borrowing costs solely to defaulting investor(s), prohibition on using this flexibility to vary drawdown timelines, periodic investor disclosure of terms and repayments, and a thirty-day cooling-off between permissible borrowings measured from repayment. Circulars SEBI Mon, 19 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67737