Securities And Exchange Board Of India - Subsection
Section 24(3) in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
(3)[ Notwithstanding anything contained in sub-regulation (2) and subject to the conditions, if any, contained in the placement memorandum or contribution agreement or subscription agreement, as the case may be, in specie distribution of assets of the scheme, shall be made by the venture capital fund at any time, including on winding up of the scheme, as per the preference of investors, after obtaining approval of at least 75% of the investors of the scheme.] [Inserted by S.O. 468(E), dated 5.4.2004]
