TaxTMI 
TaxTMI 
Definitions
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.... which not less than three crores seventy-five lakh rupees is in the form of financial assets; or (C) annual income of at least one crore rupees and minimum net worth of five crore rupees, out of which not less than two crore fifty lakh rupees is in the form of financial assets. (ii) in case of a body corporate, has net worth of at least fifty crore rupees; (iii) in case of a trust other than family trust, has net worth of at least fifty crore rupees; (iv) in case of a partnership firm set up under the Indian Partnership Act, 1932, each partner independently meets the eligibility criteria for accreditation: Provided that the Central Government and the State Governments, developmental agencies set up under the aegis of the Central Government or the State Governments, funds set up by the Central Government or the State Governments, qualified institutional buyers as defined under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Category I foreign portfolio investors, sovereign wealth funds and multilateral agencies and any other entity as may be specified by the Board from time to ....
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....) funds managed by securitisation company or reconstruction company which is registered with the Reserve Bank of India under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; and (vii) any such pool of funds which is directly regulated by any other regulator in India; (c) "associate" means a company or a limited liability partnership or a body corporate in which a director or trustee or partner or Sponsor or Manager of the Alternative Investment Fund or a director or partner of the Manager or Sponsor holds, either individually or collectively, more than fifteen percent of its paid-up equity share capital or partnership interest, as the case may be; (d) "Board" means the Securities and Exchange Board of India established under Section 3 of the Act; (e) "certificate" means a certificate of registration granted by the Board under regulation 6; ^27[(f) "Change in control" - (i) in case of a body corporate - (A) if its shares are listed on any recognised stock exchange, shall be construed with reference to the definition of control in terms of regulations f....
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....ution period" means the period following the expiry of the liquidation period of the scheme for the purpose of liquidating the unliquidated investments of the scheme of the Alternative Investment Fund. (ib) "encumbrance" shall have the same meaning as assigned to it under chapter V of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.] (j) "equity linked instruments" includes instruments convertible into equity shares or share warrants, preference shares, debentures compulsorily or optionally convertible into equity; (k) "form" means any of the forms set out in the First Schedule; ^10[(ka) "goods" means the goods notified by the Central Government under clause (bc) of section 2 of the Securities Contracts (Regulation) Act, 1956 and forming the underlying of any commodity derivative;] (l) "hedge fund" means an Alternative Investment Fund which employs diverse or complex trading strategies and invests and trades in securities having diverse risks or complex products including listed and unlisted derivatives; (m) "infrastructure fund" means an Alternative Investment Fund ....
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....r" means any person or entity who is appointed by the Alternative Investment Fund to manage its investments by whatever name called and may also be same as the sponsor of the Fund; ^20[(qa) "not for profit organization" shall have the same meaning as assigned to it in clause (e) of regulation 292A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;] (r) "private equity fund" means an Alternative Investment Fund which invests primarily in equity or equity linked instruments or partnership interests of investee companies according to the stated objective of the fund; ^35[(ra) "Shelf placement memorandum" means a placement memorandum filed by an Alternative Investment Fund for launching co-investment schemes;] (s) "SME" means Small and Medium Enterprise and shall have the same meaning as assigned to it under the Micro, Small and Medium Enterprises Development Act 2006 as amended from time to time; (t) "SME fund" means an Alternative Investment Fund which invests primarily in unlisted securities of investee companies which are SMEs or securities of those SMEs which are listed or pro....
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....eficial interest of the investors in the Alternative Investment Fund or a scheme of the Alternative Investment Fund and may be fully or partly paid up. Explanation: For the purpose of this clause, partly paid up units shall represent the portion of committed capital invested by the investor in Alternative Investment Fund or scheme of the Alternative Investment Fund;] (z) "venture capital fund" means an Alternative Investment Fund which invests primarily in unlisted securities of start-ups, emerging or early-stage venture capital undertakings mainly involved in new products, new services, technology or intellectual property right based activities or a new business model ^7[and shall include ^36[a] migrated venture capital fund as defined under Chapter III-D]; ^12[^13[(za)] "venture capital undertaking" means a domestic company which is not listed on a recognised stock exchange at the time of making investments;] (1) non-banking financial companies; (2) gold financing; (3) activities not permitted under industrial policy of Government of India; (4) any other activity which may be specified by the Board in consultation wit....
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....ognised stock exchange in India at the time of making investment; and (ii) which is engaged in the business for providing services, production or manufacture of article or things and does not include following activities or sectors:" 13. Re-Numbered vide Notification No. SEBI/LAD-NRO/GN/2021/33 dated 03-08-2021 before it was read as "(aa)" 14. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/33 dated 03-08-2021 15. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/33 dated 03-08-2021 16. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/41 dated 13-08-2021 before it was read as, "debt fund" means an Alternative Investment Fund which invests primarily in debt or debt securities of listed or unlisted investee companies according to the stated objectives of the Fund" 17. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/41 dated 13-08-2021 before it was read as: "(p) "investible funds" means corpus of the Alternative Investment Fund net of estimated expenditure for administration and management of the fund;" 18. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/41 dated 13-08-2021 before it was read as:....