Application for change in category of the Alternative Investment Fund

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....n May 21, 2012. Regulation 7(2) of AIF Regulations specifies as under: "An Alternative Investment Fund which has been granted registration under a particular category cannot change its category subsequent to registration, except with the approval of the Board." 2. In this regard, it is specified as under: 2.1 Only AIFs who have not made any investments under the category in which th....

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.... funds shall be returned to them. Partial withdrawal may be allowed subject to compliance with the minimum investment amount required under the AIF Regulations. 2.4 The AIF shall not make any investments other than in liquid funds/ banks deposits until approval for change in category is granted by SEBI. 2.5 On approval of the request from SEBI, the AIF shall send a copy of the revised placement ....