SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) have been amended and notified on April 18, 2026 to provide certain flexibility to AIFs with respect to winding up of their schemes and surrender of registration.
SEBI, vide this circular, has specified the conditions and modalities with respect to retention of proceeds beyond permissible fund life, tagging as ‘Inoperative Fund’ and surrender of registration.
The aforesaid facility of retention of proceeds beyond permissible fund life and availing Inoperative Fund status shall also be applicable to Venture Capital Funds registered under erstwhile SEBI (Venture Capital Funds) Regulations, 1996
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