SEBI introduces online system for Alternative Investment Fund
Published: Aug 01, 2017
By TIOLCORPLAWS News Service
MUMBAI, AUG 01, 2017: THE need for Alternative Investment Funds (AIFs) in India was never felt so acute. The market regulator Securities and Exchange Board of India (SEBI), has introduced an online system for filings related to AIFs on July 31, 2017.
AIF means any fund established or incorporated in India which is a privately pooled investment vehicle which collects funds from sophisticated investors, whether Indian or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors.
The new system would help AIFs to complete the registration process and other filing in terms of the provisions of AIF Regulations and circulars with much faster and in cost-effective manner. All applicants desirous of seeking registration as an AIF are now required to submit their applications online only, through SEBI Intermediary Portal.
Furthermore, all SEBI registered AIFs are now required to file their compliance reports and submit applications for any request under the provisions of AIF Regulations and circulars issued thereunder, through the online system only. The aforesaid online filing system for AIF has been made operational with immediate effect.
Existing SEBI registered AIFs have already been advised to activate their online accounts.
See Circular