 "Sebi")
In a partial relief to alternative investment funds (AIFs), capital markets watchdog Securities and Exchange Board of India (Sebi) has provided certain exemptions to such funds with regard to investment committee.
Under the new norms, members of an investment committee of an AIF will no longer be responsible for investment decisions.
Also, members of the committee would not be liable for compliance of the AIF investments with the regulatory provisions, governing documents of the AIF and other applicable laws. However, exemption in AIF rule is conditional upon capital commitment of at least Rs 70 crore from each investor accompanied by a suitable
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