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[Cites 0, Cited by 0] [Section 16(2)] [Section 16] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 16(2)(d) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012

(d)such funds shall be exempt from regulation 3 and 3A of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 in respect of investment in companies listed on SME Exchange or SME segment of an exchange pursuant to due diligence of such companies subject to the following conditions:
(i)the fund shall disclose any acquisition or dealing in securities pursuant to such due-diligence, within two working days of such acquisition or dealing, to the stock exchanges where the investee company is listed;
(ii)such investment shall be locked in for a period of one year from the date of investment.