Based on the recommendation of the Alternative Investment Policy Advisory Committee, SEBI has revised the existing reporting requirements of AIFs to provide that for the quarter ending December 31 2021 onwards, AIFs shall submit their reports relating to their activity as AIFs to SEBI on a quarterly basis, within 10 calendar days from the end of each quarter, in a revised format prescribed in its Circular. Category III AIFs shall also submit a report on the leverage undertaken on a quarterly basis, in the revised format as prescribed. The reports shall be submitted online through the SEBI intermediary Portal.
Further, any changes in the terms of the private placement memorandum and in the documents of the fund/scheme shall be intimated to investors and SEBI on a consolidated basis within one month of the end of each financial year, along with the relevant pages of revised sections/clauses. This is in partial modification to Circular dated July 18, 2014 and will come into force with immediate effect.
To refer to the SEBI Circular dated 7 April 2021, click here
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