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CIRCULAR NO. SEBI/HO/AFD/AFD-POD-1/P/CIR/2024/112, DATED 19-08-2024

August 22, 2024

SEBI issues guidelines for borrowings by Category I and Category II Alternative Investment Funds

Editorial Note : SEBI has issued guidelines for borrowing by Category I and II Alternative Investment Funds (AIFs). As per the new norms, Category I and II AIFs are allowed to borrow to meet a temporary shortfall in the amount called from investors for making investments in investee companies (‘drawdown amount’). Further, all Category I and II AIFs must maintain a 30-day cooling-off period between two periods of borrowing as permissible under AIF Regulations. The circular shall be effective immediately.

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