Introduction of Special Situation Funds as a sub-category under Category I AIFs

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..... Regulations, 2012 ("AIF Regulations"), have been amended and notified on January 24, 2022, to introduce Special Situation Funds (SSF), a sub-category under Category I AIF, which shall invest in 'special situation assets'. Copy of the notification is available at link. 2. In this context, the following is specified: (a) Each scheme of SSF shall have a corpus of at least one hundred crore rupees. .....

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..... : (a) SSF may acquire stressed loan in terms of clause 58 of RBI Master Direction upon inclusion of SSF in the respective Annex of the RBI Master Direction. (b) Stressed loan acquired by SSF in terms of clause 58 of the RBI Master Direction shall be subject to a minimum lock-in period of six months. The lock in period shall not be applicable in case of recovery of the stressed loan from the bo .....

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