Regulation 19M - Investment by special situation funds - Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012

1 [ Investment by special situation funds. 19M . (1) Special situation funds shall invest only in special situation assets and may act as a resolution applicant under the Insolvency and Bankruptcy Code, 2016: Provided that the special situation fund shall not invest in, i. its associates; or ii. the units of any other Alternative Investment Fund other than the units of a special situation fund; or iii. units of special situation funds managed or sponsored by its manager, sponsor or associates of its manager or sponsor. (2) Any investment by a special situation fund in the stressed loan acquired under clause 58 of the Master Direction Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 as amended from time to time shall be subject to lock-in period as may be specified by the Board. ] ************ NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/68 dated 24-01-2022