SEBI: Report on Alternative Investment Funds

Yesterday,
the Alternative Investment Policy Advisory Committee appointed by SEBI under
the chairmanship of Mr. Narayana Murtyh issued its first report.
The Committee has suggested a number of reforms on different fronts, including creating
a favourable tax environment for investors, unlocking domestic sources of
venture capital and private equity, enabling and encouraging onshore fund
management in India, and reforming the alternative investment fund (AIF)
regulatory regime to facilitate and optimize investments by AIFs. The Committee
has also suggested specific legislative changes to achieve the above. The
thrust of the Committee’s recommendations are to enable a broader environment
in India for entrepreneurship and start-ups and especially the methods to meet
their financing needs, but at the same time keeping the broader stakeholder and
revenue interests in mind.
SEBI
has invited comments on the report, the window for which is open until February
10, 2016.

About the author

Umakanth Varottil

Umakanth Varottil is an Associate Professor at the Faculty of Law, National University of Singapore. He specializes in corporate law and governance, mergers and acquisitions and cross-border investments. Prior to his foray into academia, Umakanth was a partner at a pre-eminent law firm in India.

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