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TMI BlogRelaxation in requirement of intimation of changes in the terms of Private Placement Memorandum of Alternative Investment Funds through Merchant BankerX X X X Extracts X X X X X X X X Extracts X X X X ..... (PPM) is required to be submitted to SEBI through a merchant banker, along with a due diligence certificate from the merchant banker in the format specified by SEBI. 2. In this regard, based on the feedback received from the market participants, the aforesaid requirement was reviewed to identify changes in the terms of PPM which may not be required to be submitted through a merchant banker and may be filed directly with SEBI, thereby, facilitating ease of doing business and rationalising cost of compliance for AIFs. 3. Accordingly, it has been decided that the changes in the terms of PPM, as mentioned in Annexure A, may not be required to be submitted through a merchant banker and may be filed directly with SEBI. 4. Further, Large Va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... my/ Industry Outlook (Section II of the template PPM) 2. Track record of investment manager (Section VI of the template PPM) 3. Risk factors (Section X of the template PPM) 4. Legal regulatory and tax Consideration (Section XI of the template PPM) Table 2 - Specific changes in PPM which are not required to be filed through Merchant Banker S.No. Particulars 1. Change in contact details (address, phone number etc.) of AIF, sponsor, manager, trustee or custodian (except such changes for which regulatory approval is required or if the new contact details of sponsor or manager of AIF is of a foreign jurisdiction) 2. Change of auditor, RTA, legal advisor or tax advisor 3. Change in size of the Fund/Scheme 4. Chang ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed due-diligence regarding changes carried out in the placement memorandum during the FY 20_-_, including the veracity and adequacy of disclosure in the respective sections of the placement memorandum wherein the changes have been carried out. 2. All changes carried out in the placement memorandum are based on latest available information and are in compliance with Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 and circulars issued thereunder. 3. We confirm that, with respect to the changes made in the placement memorandum, wherever applicable, the fund has complied with provisions of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 and circulars issued the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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