Question
Consider the following statements with respect to the
dematerialisation of the alternative investment funds (AIFs) - I.AIFs with a corpus of over Rs 500 crore will have to credit units to the existing investors by January 31. II.The earlier date specified for dematerialisation for such schemes was December 31,2023. III.Meanwhile, schemes with a corpus of less than Rs 1000 crore get time until May 10 for the dematerialisation of existing units. For such schemes, units issued after April 30 will have to be in demat form. Which of the following statements is/are correct ?Solution
In a bid to ease the compliance burden of alternative investment funds (AIFs), the Securities and Exchange Board of India (Sebi) has given them more time to credit units into the demat account of investors.AIFs with a corpus of over Rs 500 crore will have to credit units to the existing investors by January 31. The earlier date specified for dematerialisation for such schemes was October 31. Meanwhile, schemes with a corpus of less than Rs 500 crore get time until May 10 for the dematerialisation of existing units. For such schemes, units issued after April 30 will have to be in demat form.
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