The Securities and Exchange Board of India (“SEBI”) vide its circular dated December 30, 2021 (“Circular”) have modified paragraph 5 of the SEBI circular dated April 5, 2021 (“Earlier Circular”) on regulatory reporting requirements by an Alternative Investment Funds (“AIF”). The Earlier Circular, made it mandatory for the AIF’s to submit a report on their activity as an AIF to SEBI on quarterly basis within 10 (ten) calendar days from the end of each quarter in the revised formats as specified by SEBI in the Earlier Circular. Moreover, as per paragraph 5 of the Earlier Circular these reporting requirements would come into force for quarter ending on December 31, 2021. Due to the requests received from the AIF industry, SEBI vide the Circular, has decided to extend the timelines for modified reporting requirements by an AIF and now they will be applicable for quarter ending September 30, 2022 onwards.
Please find a copy of the Circular, here.
This update has been contributed by Adity Chaudhury (Partner) and Jinansh Shah (Associate).
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