SEBI - Highlights / Catch Notes

SEBI has amended AIF Regulations to allow Category I and II AIFs ...

SEBI circular allows Category I and II AIFs to create encumbrance on equity of investee companies for debt raising, subject to certain conditions and compliance requirements.

Circulars SEBI

May 22, 2024

SEBI has amended AIF Regulations to allow Category I and II AIFs to create encumbrances on equity holdings in investee companies for debt raising. Encumbrances without disclosure must obtain investor consent by Oct 24, 2024, or be removed by Jan 24, 2025. Borrowings against encumbered equity must be used for investee company purposes only. Duration of encumbrance cannot exceed scheme tenure. AIFs with foreign investments must comply with RBI guidelines. AIFs must not be liable beyond encumbered equity in case of borrower default. Encumbrance does not permit guarantee extension. No encumbrances on foreign investments. SFA will set implementation standards for infrastructure sector debt raising. Compliance Test Report must include adherence to circular. Circular effective immediately u/s 11(1) of SEBI Act to protect investor interests and regulate securities market.

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SEBI has amended AIF Regulations to allow Category I and II AIFs ...

SEBI circular allows Category I and II AIFs to create encumbrance on equity of investee companies for debt raising, subject to certain conditions and compliance requirements.

Circulars SEBI

May 22, 2024

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