Supreme Court Stays Kerala FIR Probe Against Ex-CM Pinarayi Vijayan, Kin for 10 Days  ||  Supreme Court: Courts Can Intervene When Free and Fair Elections are Tainted by Illegal Means  ||  Delhi HC: CJP Leaders Saurav Das, Ashutosh Ranka Withdraw Plea Against Judicial Custody  ||  Bombay HC Fines Junior Advocate Rs. 25K, Clerk Rs. 10K for Unauthorised Court Video Recording  ||  Bombay HC Expresses Concern as Mumbai Surpasses Delhi in Pollution Levels  ||  Supreme Court: Section 17A PC Act Does Not Cover Bribe Demands Unrelated to Official Duty  ||  Supreme Court Directs Centre to Promote Interim Compensation Scheme for Road Accident Victims  ||  Karnataka High Court Upholds Homicide Charge Against Father for Letting Minor Son Drive  ||  Karnataka High Court Grants Bail to Pan Masala Maker in Rs. 42 Crore Cess Evasion Case  ||  Karnataka High Court: Advocates Practising Without Clearing AIBE May Face Criminal Action    

Modalities for filing of placement memorandum through a Merchant Banker- (Securities and Exchange Board of India) (21 Oct 2021)

MANU/SIPM/0016/2021

Capital Market

1. AlFs shall launch scheme(s) subject to filing of placement memorandum with SEBI through a SEBI registered Merchant Banker. In this regard, SEBI (Alternative Investment Funds) Regulations, 2012 ("AIF Regulations"), have been amended and notified on August 13, 2021. Copy of the notification is available at link.

2. In this context, the following is specified:

(a) The Merchant Banker shall independently exercise due diligence of all the disclosures in the placement memorandum, satisfy itself with respect to veracity and adequacy of the disclosures and provide a due diligence certificate. The format of due diligence certificate is given at Annexure A.

(b) While filing draft placement memorandum at the time of registration or prior to launch of new scheme on the SEBI intermediary portal, the due diligence certificate provided by the Merchant Banker shall also be submitted, along with other necessary documents.

(c) The details of the Merchant Banker shall be disclosed in the placement memorandum.

(d) Further, in terms of paragraph 4 of SEBI Circular dated April 07, 2021, AlFs are required to intimate SEBI regarding any changes in terms of placement memorandum on a consolidated basis, within one month of the end of each financial year. Such intimation shall also be submitted through a Merchant Banker, along with the due diligence certificate provided by the Merchant Banker. The format of due diligence certificate for intimating the changes in the placement memorandum is given at Annexure B.

3. The Merchant Banker appointed for filing of placement memorandum shall not be an associate of the AIF, its sponsor, manager or trustee.

4. The provisions of this circular shall come into effect from the ninety first day from the date of notification of aforesaid amendment to AIF Regulations, i.e., November 11, 2021.

5. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Tags : MODALITIES   FILING   MERCHANT BANKER  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved