From Quarterly to Annual: SEBI’s New Reporting Framework for AIFs

The Securities and Exchange Board of India (Alternate Investment Funds) Regulations 2012 (AIF Regulations) under Regulation 28, and Clause 15.1.1 of the SEBI’s Master Circular on AIFs dated 07 May 2024 (Master Circular) mandate all alternative investment funds (AIFs) to submit report of their activity as an AIF to the Securities and Exchange Board of India  (SEBI) on a quarterly basis within 15 calendar days from the end of each quarter.