Winding up

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....Investment Fund pass a resolution at a meeting of unitholders that the Alternative Investment Fund be wound up; or (d) if the Board so directs in the interests of investors. (2) An Alternative Investment Fund set up as a limited liability partnership shall be wound up in accordance with the provisions of The Limited Liability Partnership Act, 2008: (a) when the tenure of the Alternative Investment Fund or all schemes launched by the Alternative Investment Fund, as mentioned in the placement memorandum is over; or (b) if seventy five percent of the investors by value of their investment in the Alternative Investment Fund pass a resolution at a meeting of unitholders that the Alternative Investment Fund be wound up; or (c) if t....

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....nd at any time, ^5[including on winding up of the scheme of the Alternative Investment Fund], as per the preference of investors, ^6[subject to conditions as may be specified by the Board from time to time]. ^7[(9) Notwithstanding anything contained in sub-regulation (7), during liquidation period of a scheme, an Alternative Investment Fund may distribute investments of a scheme which are not sold due to lack of liquidity, in-specie to the investors or ^9[enter into dissolution period], after obtaining approval of at least seventy five percent of the investors by value of their investment in the scheme of the Alternative Investment Fund, in the manner and subject to conditions specified by the Board from tim....

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....y the Board from time to time.] ^11[(11)] Upon winding up of the Alternative Investment Fund, the certificate of registration shall be surrendered to the Board.   ************* NOTES:- 1 Substituted by the SEBI (Alternative Investment Funds)(Amendment) Regulations, 2018, w.e.f. 01-06-2018. Prior to its substitution, it read as "Companies Act, 1956 (1 of 1956)". 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/132 dated 15-06-2023 before it was read as, "one year from the date of intimation under sub-regulation (5) of regulation 29" 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/132 dated 15-06-2023 4. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/132 dated 15-06-2023 before ....