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VC Fund Granted Tax Exemption u/s 10(23FB) for Convertible Debenture Investments Despite SEBI Regulation Concerns.

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....Exemption u/s 10(23FB) -Venture Capital Fund [VCF] - investments in Convertible Debenture application money - violation of SEBI (Venture Capital Fund) Regulations - permitted by its Trust Deed as well as by the VCF Regulations of SEBI to temporarily deploy funds in units of mutual funds as well as in Convertible Debenture application money - exemption allowable....

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