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SEBI has made the manager and key management personnels of Alternative Investment Fund (AIF) responsible for appointing an independent valuer of asset, and ascertaining true and fair valuation of the investments of AIF schemes. In case the established policies and procedures of valuation do not result in fair and appropriate valuation, the manager should deviate from the established policies and procedures to value the assets or securities at a fair value and document the rationale for such deviation. At each asset level, in case there is a deviation of over 20 per cent between two consecutive valuations or a deviation of over 33 per cent in a financial year, the manager shall inform the investors the reasons for the same. Valuation of securities not covered by SEBI norms should be carried out as per valuation guidelines endorsed by any AIF industry association, which has membership of at least 33 per cent of SEBI-registered. The independent valuer should have at least three years of experience in valuation of unlisted securities and should not be associated with the manager, sponsor and trustee of the AIF. An AIF has to obtain consent of 75 per cent of investors by value for launching ‘Liquidation Scheme’ during the liquidation period of one year of the original scheme.
Select the most appropriate ANTONYM of the bold word.
The consultant analysed the proposal carefully before he decided to jettison it.
Select the most appropriate ANTONYM of the given word.
Amalgamate
Similarly, the images of discredited rulers were effased (A) in the monumental (B) narrative reliefs which played so prominent (C) a role in impe...
In the following question, an idiomatic expression or a proverb has been given in bold—followed by four alternatives. Choose the one which best expre...
Select the most appropriate synonym of the bold word
He could rise to this stature because of his invincible courage.
He is a sincere friend who always tells the truth.
REAFFIRM
Select the word which means the same as the group of words given.
causing great damage or suffering