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TMI BlogGeneral Investment ConditionsX X X X Extracts X X X X X X X X Extracts X X X X ..... tive Investment Fund: Provided that the terms of exit from the Co-investment in an investee company including the timing of exit shall be identical to the terms applicable to that of exit of the Alternative Investment Fund: Provided further that the above proviso shall be applicable only for co-investment made from the date of coming into force of this regulation; ] 5 [ (c) Category I and II of Alternative Investment Funds shall invest not more than twenty five per cent of the investable funds in an Investee Company directly or through investment in the units of other Alternative Investment Funds 9 [ : ]] 10 [ Provided that large value funds for accredited investors of Category I and II may invest up to fifty percent of the investable funds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - (a) associates; or (b) units of Alternative Investment Funds managed or sponsored by its Manager, Sponsor or associates of its Manager or Sponsor; ] 17 [ (ea) Except with the approval of seventy five percent of the investors by value of their investment in the scheme of Alternative Investment Fund and subject to the conditions specified by the Board, a scheme of an Alternative Investment Fund shall not buy or sell investments, from or to - (a) associates; or (b) schemes of Alternative Investment Funds managed or sponsored by its Manager, Sponsor or associates of its Manager or Sponsor; or (c) an investor who has committed to invest at least fifty percent of the corpus of the scheme of Alternative Investment Fund: Provided that while obta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dematerialised form, subject to such conditions as may be specified by the Board from time to time: Provided that the requirement under clause (i) of sub-regulation (1) shall not apply to: (a) investments by Alternative Investment Funds in such type of instruments which are not eligible for dematerialisation, (b) investments held by a liquidation scheme of the Alternative Investment Funds that are not available in the dematerialised form, and (c) such other investments by Alternative Investment Funds and such other schemes of Alternative Investment Funds as may be specified by the Board from time to time. ] (2) Notwithstanding the conditions as specified in sub-regulation (1), the Board may specify additional requirements or criteria for A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NRO/GN/2021/33 dated 03-08-2021 13. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/41 dated 13-08-2021 before it was read as (f) Un-invested portion of the 3 [investable funds] may be invested in liquid mutual funds or bank deposits or other liquid assets of higher quality such as Treasury bills, CBLOs, Commercial Papers, Certificates of Deposits, etc. till deployment of funds as per the investment objective; 14. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/57 dated 09-11-2021 w.e.f. 09-12-2021 before it was read as (b) Co-investment in an investee company by a Manager or Sponsor shall not be on terms more favourable than those offered to the Alternative Investment Fund; 15. Substituted vide Notification No. SEBI/LAD-NRO/G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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