Filing of Term Sheet by Angel Funds

By July 18, 2018 December 20th, 2019 No Comments

and Exchange Board of India (‘SEBI’)
has issued a circular on and with effect from June 29, 2018 for all registered
Alternative Investment Funds (AIFs) regarding filing of term sheet by Angel
Funds. SEBI had amended the SEBI (Alternative Investment Funds) Regulations,
2012 vide a notification dated June 1, 2018 based on the recommendations of a
working group to simplify certain regulatory provisions regarding the Angel
Fund including Regulation 19(E) which deals with filing of scheme details with
to these amendments Angel Funds can now launch schemes subject to filing of a
term sheet in the specified format. Such term sheet has to contain material
information regarding the scheme and shall be filed with SEBI within ten days
of launching the scheme.

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