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Obligations of VCFs

Obligations of VCFs Every officer of the VCF, in respect of whom an inspection investigation has been ordered by SEBI and any other associate person who is in possession of relevant information pertaining to its conduct affairs, including fund manager asset management...

Maintenance of Books Records

Maintenance of Books Records The VCFs must maintain for a period of eight years, books of accounts records documents which give a true and fair picture of the state of their affairs. SEBI can, at times, call for information with respect to any matter relating to it...

General Obligations and Responsibilities

General Obligations and Responsibilities A VCF is not permitted to issue any document advertisement inviting offers from public for subscription purchase of any of its units. It may receive money from investment in the VCF through only private placement of its units....

Restriction on Investment by VCF

Restriction on Investment by VCF The VCFs should, one, disclose the Investment strategy at the time of their registration. Two, they cannot invest more than 25 per cent corpus of the fund in one VCU. Three, they are prohibited from investing in associated companies....

Registration

Registration All VCFs must be registered with SEBI and pay Rs 25,000 as application fee Rs 5,00,000 as registration fee for grant of certificate. The eligibility criteria for registration is: The applicant should be either a (i) company under the Companies Act or a...