Alternative investment funds hope for Sebi leeway, clear demat guidelines

Say working with depositories on transition from physical to electronic

Alternative investment funds (AIFs) are yet to fully demat the outstanding units even as the deadline ended on October 31. Industry players say they are working on the transition from physical to electronic with the depositories Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NDSL). Some said they are hoping for some relaxation from the market regulator Securities and Exchange Board of India (Sebi), given the teething problems they are facing.

Some AIFs have complained that they are yet to receive the unique identification code International Securities Identification Number, or ISIN, despite filing an application.

Sources said