Relaxation in compliance with requirements pertaining to AIFs and VCFs

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A need was felt to extend the due date for regulatory filings for Alternate Investment Funds (“AIFs”) and Venture Capital Funds (“VCFs”), as a result of the recent market events due to the COVID-19 pandemic. Therefore, the Securities Exchange Board of India (“SEBI”) on 30 March 2020, vide circular No. SEBI/HO/IMD/DF1/CIR/P/2020/58, issued a relaxation in complying with the requirements pertaining to AIFs and VCF.

Accordingly, the due date for regulatory filings for AIFs and VCFs for the periods ending 31 March 2020 and 30 April 2020 has been extended by 2 months, over and above the timelines prescribed under SEBI (Alternative Investment Funds) Regulations, 2012 and circulars issued thereunder.

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