Search: FME
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September 2026
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FEMA & RBIExpired placement memorandum can be revived: IFSCA allows extension even on a late application, at 50% extension fee plus a late fee the FME must bear
Expired PPM: late extensionReliefIFSCA may now extend the validity of an expired placement memorandum of a Venture Capital or Restricted Scheme even where the FME applies after expiry. The FME pays an extension fee of 50% of the fresh-filing fee for each six-month period plus a late fee of 50% of that extension fee, cannot make material changes, and cannot pass the late fee to the scheme or investors.
August 2026
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FEMA & RBIIFSCA Fund Management Regulations amended again: “associate” set at a 20% test, pre-first-close money ring-fenced, differential distribution enabled
Associate = 20% holding testRule changeThe IFSCA (Fund Management) (Second Amendment) Regulations, 2026 redefine “associate” on a 20 per cent holding test, require money received before first close to be parked only in liquid, capital-preserving investments, let Venture Capital schemes make follow-on investments in companies older than ten years, enable senior and junior units, and reset NAV disclosure and FME contribution rules.
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FEMA & RBIEvery Fund Management Entity in the IFSC must maintain a website or webpage from 1 December 2026: IFSCA lists the disclosures
FME website by 1 December 2026New facilityIFSCA has directed every Fund Management Entity registered under the Fund Management Regulations, 2025 to maintain a publicly accessible website or webpage with specified disclosures. Retail FMEs need an independent website. The URL must be intimated to IFSCA on or before 1 December 2026, the date the circular comes into force.
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