TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2021
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.... following regulations to further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 namely:- 1. These regulations may be called the Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2021. 2. They shall come into force on the date of their publication in the Official Gazette: Provided that the amendments to regulation 12 shall come into force on the ninety first day from the date of publication of these regulations in the Official Gazette. 3. In the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012,- I. In sub-regulation (1) of regulation 2, i. clause (i), shall be substituted with the following, n....
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....nd the merchant banker shall ensure that the comments are incorporated in the placement memorandum prior to launch of the scheme." III. In sub-regulation (3) of regulation 13, before the words and symbol "Category III", the words "Schemes of" shall be inserted. IV. In sub-regulation (1) of regulation 15, clause (f) shall be substituted with the following, namely, - "(f) Un-invested portion of the investable funds and divestment proceeds pending distribution to investors may be invested in liquid mutual funds or bank deposits or other liquid assets of higher quality such as Treasury bills, Triparty Repo Dealing and Settlement, Commercial Papers, Certificates of Deposits, etc. till the deployment of funds as per the investment objective....
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....egulation (2) shall be substituted with the following, namely, - "(d) such funds shall be exempt from sub-regulations (1) and (2) of regulation 3 and sub-regulation (1) of regulation 4 of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 in respect of investment in companies listed on the SME exchange or SME segment of an exchange pursuant to due diligence of such companies subject to the following conditions: (i) the fund shall disclose any trading in securities pursuant to such duediligence, within two trading days of such trading, to the stock exchanges where the investee company is listed; (ii) such investment shall be locked in for a period of one year from the date of investment." vi....
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.... - "Provided further that the minimum amount of grant shall not apply to accredited investors:" x. in clause (a) of sub-regulation (5), after the words "infrastructure projects", the words and symbol "or in units of Category II Alternative Investment Funds which invest primarily in such venture capital undertakings or investee companies or special purpose vehicles"shall be inserted. VI. In regulation 17, i. in clause (e), the words and symbols "Chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009"shall be substituted with the words and symbols "Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018"....
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....th September, 2014 by the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 vide No. LAD-NRO/GN/2014-15/11/1576. (4) 14th August, 2015 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2015 vide No. SEBI/LAD-NRO/GN/2015-16/011. (5) 4th January, 2017 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2016 vide No. SEBI/LAD/NRO/GN/2016-17/026. (6) 6th March, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 vide No. SEBI/LAD/NRO/GN/2016-17/037. (7) 1st June, 2018 by the Securities and Exchange Board of India (Alternative Invest....