Amendment of Regulations

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....ure capital fund" and before the words "and", the words ", Alternative Investment Fund" shall be inserted; (ii) In regulation 37, in the proviso, clause (b) shall be substituted with the following namely, - "(b) equity shares held by a venture capital fund or alternative investment fund of category I or a foreign venture capital investor: Provided that such equity shares shall be locked in for ....

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....undertaking" means a venture capital undertaking as defined under clause(aa) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012." (c) In sub-regulation (2), after the words "Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996" the words and numbers "or Securities and Exchange Board of I....