Securities And Exchange Board Of India - Subsection
Section 16(4) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
(4)The following conditions shall apply to social venture funds in addition to the conditions laid down in sub-regulation (1):-(a)atleast seventy five percent of the corpus shall be invested in unlisted securities or partnership interest of social ventures.(b)such funds may accept grants, provided that such utilization of such grants shall be restricted to clause (a).(c)such funds may give grants to social ventures, provided that appropriate disclosure is made in the placement memorandum.(d)such funds may accept muted returns for their investors i.e. they may accept returns on their investments which may be lower than prevailing returns for similar investments.
