Anish, Hardik and Ashrika

On December 13, 2024, the Securities and Exchange Board of India (“SEBI”) issued a pivotal circular that redefines the norms around pro-rata and pari-passu rights for investors in Alternative Investment Funds (“AIFs”). This follows SEBI’s earlier regulatory initiatives issued on November 18, 2024, which laid the groundwork for uniformity and investor-centric reforms across India’s alternative […]

Background: Strengthening KYC Compliance With the aim to simplify the KYC process for financial institutions and enhance the effectiveness of customer identification measures, ensuring compliance with anti-money laundering and counter-terrorism financing regulations, RBI has recently made crucial amendments to its Master Directions -Know Your Customer (KYC) Directions, 2016, (“Amended Directions”) effective November 6, 2024. The