To facilitate ease of doing business, Sebi on Monday said certain changes in the private placement memorandum of alternative investment funds can be submitted directly to the regulator rather than through a merchant banker.
The Reserve Bank s December circular prohibiting regulated entities such as NBFCs from investing in AIFs having downstream investments either directly or indirectly in a debtor company of the entities had stressed investors. The rules also required entities to liquidate their investment within 30 days from the date of downstream investment or make 100% provision.
The board may also discuss another proposal to allow alternative investment funds (AIFs) to pledge their shares in infrastructure sector investee companies in a bid to allow these investment vehicles to engage in leverage.
Agent Information Software, Inc. (OTCMKTS:AIFS – Get Free Report) traded down 4.7% during trading on Tuesday . The stock traded as low as $1.54 and last traded at $1.76. 1,250 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 1,607 shares. The stock had previously closed at $1.85. […]