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Apr 28, 2025

Relaxation in Timelines for Holding AIFs’ Investments in Dematerialized Form

SEBI, by way of a Circular dated February 14, 2025, has introduced relaxation in the timelines for dematerialisation of investment held by Alternative Investment Funds (‘AIF’), wherein, all investments made by AIFs on or after July 1, 2025, will have to be mandatorily in dematerialized form. Investments made by AIFs prior to this date are exempted from the dematerialization requirement unless: (i) the investee company of the AIF is mandated under law to facilitate dematerialization of shares; or (ii) where the AIF and/or other SEBI registered intermediaries which are mandated to hold their shares in dematerialized form, exercise control. In such cases, dematerialization is required to be completed by the AIF by October 31, 2025. Further, dematerialization requirements will not be applicable in cases wherein the schemes of AIFs are either: (i) on extended tenure as of February 14, 2025; or (ii) where the schemes of AIFs end on or before October 31, 2025.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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