SEBI Master Circular for AIFs consolidates updated circulars, rescinds prior guidance, and preserves accrued rights and liabilities.

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Full Text of the Document

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....SEBI's Master Circular consolidates the circulars applicable to Alternative Investment Funds under the AIF Regulations, incorporating provisions issued up to May 31, 2026 and superseding the Master Circular dated May 07, 2024. The circulars listed in Annexure 21 are rescinded to the extent they relate to AIFs, while prior actions, pending applications, and accrued rights, liabilities, penalties, investigations and remedies under the rescinded circulars continue as if those circulars remained in force. Trustees, sponsors or managers must ensure that the Compliance Test Report under para 21.2 covers compliance with all chapters of the Master Circular.....