Regulator revises capital and disclosure rules: Angel Fund access, dematerialisation mandates, expanded transferees, sections 230-234 clarified

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....The regulator amended capital and disclosure rules to: permit accredited investors to invest in registered Angel Funds; require specified securities held by promoters, promoter group, selling shareholders, directors, KMP, senior management, QIBs, employees, SR shareholders, regulated entities and other board-specified categories to be dematerialised before filing a draft offer; clarify treatment of shares acquired under court/tribunal/central-government schemes under sections 230-234; expand transferee categories (including AIFs, FVCIs, banks, PFIs, insurers and certain public shareholders); revise definitions (including trusts/societies), social impact assessor criteria, and Social Enterprise eligibility; require not-for-profit registrants.........