TaxTMI 
TaxTMI 
Modalities for filing of placement memorandum through a Merchant Banker
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....h of new scheme on the SEBI intermediary portal, the due diligence certificate provided by the Merchant Banker shall also be submitted, along with other necessary documents. (c) The details of the Merchant Banker shall be disclosed in the placement memorandum. (d) Further, in terms of paragraph 4 of SEBI Circular dated April 07, 2021, AIFs are required to intimate SEBI regarding any changes in terms of placement memorandum on a consolidated basis, within one month of the end of each financial year. Such intimation shall also be submitted through a Merchant Banker, along with the due diligence certificate provided by the Merchant Banker. The format of due diligence certificate for intimating the changes in the placement memorandum is given at Annexure B. 3. The Merchant Banker appointed for filing of placement memorandum shall not be an associate of the AIF, its sponsor, manager or trustee. 4. The provisions of this circular shall come into effect from the ninety first day from the date of notification of aforesaid amendment to AIF Regulations, i.e., November 11, 2021. 5. This circular is issued in exercise of powers conferred under Section 11(1) of the Se....
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....t the capability of the sponsor or manager to fulfil the requirement of maintaining continuing interest in the scheme as per SEBI (Alternative Investment Funds) Regulations, 2012. PLACE: DATE: Signature of authorised signatory of Merchant Banker Name/designation of the authorised signatory, Name of Merchant Banker Enclosed: 1. Annexure I - Details of disclosures in the placement memorandum with respect to compliance with provisions of SEBI (Alternative Investment Funds) Regulations, 2012, applicable to the proposed scheme 2. Annexure II - Information with respect to disclosures in the placement memorandum, to be submitted along with the due diligence certificate Annexure I - Details of disclosures in the placement memorandum with respect to compliance with provisions of SEBI (Alternative Investment Funds) Regulations, 2012, applicable to the proposed scheme S. No. Regulation Number Contents of the Regulation Section/subsection (along with page number) of the placement memorandum where the Regulation has been complied with. 1. --- 2. --- Note: Regulations which are not applicable to a parti....
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....me proposes to invest in such instruments as part of primary investment objective of the scheme also In case of Category III AIFs, whether the scheme proposes to invest in such instruments also to provide applicable margin to recognized stock exchanges If yes, provide the list of instruments proposed for temporary deployment of funds 11. Whether maximum duration for such temporary deployment of funds is disclosed If yes, mention the duration 12. Whether the scheme intends to invest in units of AIFs If yes, confirm whether necessary disclosures have been made in line with SEBI circular dated June 25, 2021 13. Whether names of key management personnel are disclosed in the placement memorandum in line with SEBI circular dated June 25, 2021 14. Whether it is verified that all members of key investment team are employees or partners or directors (as applicable) of the manager 15. Whether it is verified that the key investment team satisfies the experience and professional qualification criteria provided unde....
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....sed If yes, state the timelines for such intimation 26. Whether it is provided that a defaulter, i.e., investor who defaults in bringing drawdown amount within the timeline specified, can no longer participate in subsequent investments of the scheme till the default is cured and that there are clauses providing steps to be taken against the defaulting investor 27. Whether specific instances are disclosed under which in-specie distribution / distribution in kind may be made 28. Whether it is disclosed that co-investment by investors of AIF shall be made in compliance with applicable provisions of AIF Regulations and PMS Regulations 29. Whether it is disclosed that the manager will establish written down conflict management policy and whether timeline for adopting such policy has been provided 30. Whether the distribution waterfall illustrations have been provided for different scenarios If yes, whether it is verified that the illustrations are accurate and complete 31.  ....