SEBI issues clarifications on AIF norms

India Infoline News Service | Mumbai |

SEBI has clarified that the deadline for sending of annexure to the placement memorandum to the investors is extended till August 31, 2014

SEBI on Friday issued clarification with respect to the circular on 'Guidelines on disclosures, reporting and clarifications under AIF Regulations'.
SEBI has clarified that the deadline for sending of annexure to the placement memorandum to the investors is extended till August 31, 2014.
With respect to disclosure of disciplinary history, the same shall be applicable for the last 5 years and where monetary penalty is involved, in cases where such penalty is greater than Rs. 5 lakhs.
With respect to disputed tax liabilities, the same shall not apply to liabilities in personal capacity of an individual. Contingent liabilities shall be as disclosed in books of accounts of the entity, SEBI said in a notification on Friday.
Joint investors shall mean where each of the investor contributes towards the AIF... such investee company shall hold or propose to hold not less than one project, directly or indirectly.
 

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