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ARTICLE · 11 JUNE 2025

GIFT City Updates (May 2025)

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Vide circular bearing number F. No. IFSCA-IF-10PR/7/2024-Capital Markets dated May 24, 2025 issued in exercise of powers...

IndiaFinance and Banking
Hammurabi & Solomon
Hammurabi & Solomon
CIRCULARS
  • Extension of timeline for appointment of Custodian under Regulation 132 of the IFSCA (Fund Management) Regulations, 2025

Vide circular bearing number F. No. IFSCA-IF-10PR/7/2024-Capital Markets dated May 24, 2025 issued in exercise of powers under sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, read with regulation 146 of the International Financial Services Centres Authority (Fund Management) Regulations, 2025, relating to Extension of timeline for appointment of Custodian under Regulation 132 of the IFSCA (Fund Management) Regulations, 2025. The subject circular grants an additional time period of six (6) months from the date of its issuance for the appointment of an independent custodian based in IFSC, if required by Regulation 132. This extension applies to Fund Management Entities (FMEs) in IFSCs concerning specific schemes: those taken on record by the Authority after February 19, 2025, or those

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