Venture Intelligence (TSJ Media Pvt. Ltd.)
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Sebi amends AIF rules reg investors’ rights
Capital markets regulator the Securities and Exchange Board of India (Sebi) has directed Alternative Investment Funds (AIF) to grant investors’ rights in investment and distribution of proceeds in proportion to their commitments in a scheme. This is aimed at clarifying the regulatory intent of AIFs’ being pooled investment vehicles and ensuring fair and equal treatment of investors of an AIF.Sebi has also said that differential rights can be offered to select investors of a scheme of an AIF without affecting the interest of other investors of the scheme.Sebi has exempted Large Value Funds from ensuring pari-passu rights among its investors. This is subject to a waiver provided by each investor to this effect.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.