Sebi proposes revised format for FVCI for filing compliance report

Capital markets regulator Sebi on Thursday proposed a revised format for filing compliance reports by Foreign Venture Capital Investors with regard to their activities.

Under the rule, Foreign Venture Capital Investors (FVCI) are required to provide quarterly reports to Sebi in the format specified with respect to their venture capital activities.

"Recently, the Sebi board has approved amendments to FVCI Regulations which will be notified in due course. In this context, a need for revising the format for filing of compliance reports by FVCI has been felt," Sebi said in its consultation paper.

As per the proposed revised format, FVCI are required to provide general information about them, including Sebi's registration number, date of grant of such registration, date of incorporation, country of incorporation, category of FVCI, and principal place of business.

 

Additionally, they are required to provide details of directors, brief investment details of FVCI in India, industry-wise investment breakup and any instance of violation or non-adherence to securities laws etc in the proposed format.

The Securities and Exchange Board of India (Sebi) has sought public comments till August 29 on proposals.