Securities And Exchange Board Of India - Subsection
Section 23(1) in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
(1)A scheme of a venture capital fund set up as a trust shall be wound up,(a)when the period of the scheme, if any, mentioned in the placement memorandum is over;(b)if it is the opinion of the trustees or the trustee company, as the case may be, that the scheme shall be wound up in the interests of investors in the units;(c)if seventy-five per cent of the investors in the scheme pass a resolution at a meeting of unit holders that the scheme be wound up; or(d)if the Board so directs in the interests of investors.
