The Securities and Exchange Board of India (“SEBI”), vide its circulars dated August 9, 2007, October 1, 2015, and July 3, 2018 (“SEBI Circulars”), had permitted SEBI registered Alternative Investment Funds (“AIFs”) and Venture Capital Funds (“VCFs”) to invest overseas, subject to an overall limit of USD 750 million.
SEBI has, vide its circular dated May 21, 2021 (“May 21 Circular”), enhanced the aforesaid limit to USD 1,500 million, in consultation with the Reserve Bank of India. The May 21 Circular also states that all other requirements, terms and conditions specified in the SEBI Circulars shall remain unchanged.
Please find a copy of the May 21 Circular here.
This update has been contributed by Suchita Ambadipudi (Partner) and Smriti Tripathi (Associate).
Argus Knowledge Centre is now on WhatsApp! Send us a message on +91 8433523504 to receive updates from our Knowledge Centre.
7A, 7th Floor, Tower C, Max House,
Okhla Industrial Area, Phase 3,
New Delhi – 110020
The rules of the Bar Council of India do not permit advocates to solicit work or advertise in any manner. This website has been created only for informational purposes and is not intended to constitute solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work in any manner. By clicking on 'Agree' below, you acknowledge and confirm the following:
a) there has been no solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
b) you are desirous of obtaining further information about us on your own accord and for your use;
c) no information or material provided on this website is to be construed as a legal opinion and use of this website will not create any lawyer-client relationship;
d) while reasonable care has been taken in ensuring the accuracy of the contents of the website, Argus Partners shall not be responsible for the results of any actions taken on the basis of information provided in this website or for any error or omission in the website; and
e) in cases where the user has any legal issues, the user must seek independent legal advice.