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ARTICLE · 17 MAY 2024

SEBI Amends The AIF Regulations | An Overview

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On April 25, 2024, the Securities and Exchange Board of India ("SEBI") notified certain significant amendments to the SEBI (Alternative Investment Funds) Regulations, 2012.

IndiaFinance and Banking
Nandita Govind
Nandita Govind
Mohit Sharma
Mohit Sharma
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On April 25, 2024, the Securities and Exchange Board of India ("SEBI") notified certain significant amendments to the SEBI (Alternative Investment Funds) Regulations, 2012 ("AIF Regulations").

These amendments, read with a circular issued by SEBI on April 26, 2024, are meant to, inter alia, provide flexibility to alternative investment funds ("AIFs") and their investors to deal with unliquidated investments of their schemes by: (a) permitting AIFs to enter into a dissolution period (subject to conditions); and (b) prohibiting AIFs from launching new liquidation schemes from the date of notification of the amendments i.e., April 25, 2024.

As a result of these amendments, during the 'liquidation period', an AIF can distribute investments of a scheme which are unsold due to lack of liquidity, in-specie to the investors, or enter into dissolution period, after obtaining approval of at least 75% of the investors by value of their investment in the AIF scheme. The

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