Market regulator Securities and Exchange Board of India (Sebi) and banking regulator the Reserve Bank of India (RBI) have recommended to the government to make the changes in the norms. This comes amid concerns over circumvention of regulations through use of the AIF structure.
After the changes, such investments will be subject to sectoral caps and foreign investment guidelines.
At present, classification of investments made by an AIF is based on the domicile of ownership or control of the fund manager or sponsor of the AIF. If the fund is owned and controlled in India, it is not classified as indirect foreign investment.
The market regulator is in favour of the RBI's recommendation to the Centre that if more than 50 per cent of the units of an AIF is held by or issued to a resident outside India, then all the investments made by such an AIF will be treated as indirect foreign investment for investee entities, according to a draft document seen by Business Standard.
Bu hikaye Business Standard dergisinin April 23, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin April 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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