Securities And Exchange Board Of India - Subsection
Section 29(2) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
(2)An Alternative Investment Fund set up as a limited liability partnership shall be wound up in accordance with the provisions of The Limited Liability Partnership Act, 2008:(a)when the tenure of the Alternative Investment Fund or all schemes launched by the Alternative Investment Fund, as mentioned in the placement memorandum is over; or(b)if seventy five percent of the investors by value of their investment in the Alternative Investment Fund pass a resolution at a meeting of unitholders that the Alternative Investment Fund be wound up; or(c)if the Board so directs in the interests of investors.
