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Double Treat For The Domestic Funds Industry

Published on Tue, Oct 21,2014 | 16:44, Updated at Tue, Oct 21 at 16:44Source : 

The last week witnessed two positive regulatory updates relevant to the domestic funds industry. While on one hand, the Ministry of Corporate Affairs (MCA) has cleared the mist of scepticism around SEBI registered trusts, including Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (INVITs), holding partnership interests in limited liability partnerships (LLPs); the Foreign Investment Promotion Board (FIPB) has, in a landmark decision, granted approval to an AIF Trust to accept Non Resident Indian (NRI) investments based on its undertaking to provide the details of such NRI investors as and when they participate in the AIF. This marks a significant shift from the FIPB’s earlier requirement of providing such details at the stage of the filing the FIPB application. For more please read the attached report by Khaitan & Co.

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Attachments : DoubletreatforthedomesticfundsindustryKCOERGONewsflash.pdf

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