Obligations of Sponsors and Managers of Angel Fund

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....an ^5[half percent of the amount invested or fifty thousand rupees, whichever is higher,], and such interest shall not be through the waiver of management fees. ^6[(2) The manager shall accept contribution from an angel investor for investing in an investee company only after obtaining approval from the angel investor for such investment.]] ^7[(3) The manager shall disclose and offer each in....

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....ses as may be specified by the Board from time to time. (7) In case an angel fund offers an opportunity for investment in an existing investee company or related party of an existing investee company, the same shall be disclosed to the angel investors at the time of seeking their approval for making such investment.]     ************* NOTES:- 1 Inserted by the SEBI (....