https://www.taxtmi.com/circulars?id=70571 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. en-us Thu, 30 Jul 2026 00:00:00 +0530 Thu, 30 Jul 2026 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=70571 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. Circulars SEBI Thu, 30 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/circulars?id=70571