The Weekly Obiter

SEBI RAISES OVERSEAS INVESTMENT LIMIT OF AIF, VEN-TURE CAPTIAL FUNDS TO $750 MILLION. JULY 3, 2018

July 17, 2018

Market regulator SEBI has enhanced the overseas investment limit of alternative (AIF) and venture capital fund (VCF) to $ 750 Million from the current $ 500 Million. The decision has been taken in consultation with the Reserve Bank of India, SEBI has said in circular.
For monitoring the utilization of overseas investment limits, SEBI has asked AIFs and VCFs to mandatorily disclose the utilization of such limits within five working days of such usage on the regulator’s intermediary portal.
If the AIFs or VCFs wish to surrender their overseas limit at any point of the time within the validity period, the same will have to be reported within two working days from the date of decision to surrender the limit.
In case an AIF / VCF has not utilized a part of the overseas limit within the validity period, the same shall be reported within 2 working days after expiry of the validity period. 

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