Practical scenarios
Applied problems. Work the facts, choose an approach, then check the reasoning against the provision.
28 worked situations, each on its own page.
Working on a SEBI-registered AIF instead? Open the SEBI AIF scenarios
Restricted scheme launch — approval sequence
Ch III-B · Reg 31, Reg 35, Reg 17, Reg 43What must be in place before you file?Not triedOpenVC scheme — FME contribution after the amendment
Ch III-A · Reg 28What is the minimum mandatory contribution?Not triedOpenClose-ended restricted scheme — annual NAV disclosure
Ch III-B · Reg 36, Reg 39What is required before relying on annual disclosure?Not triedOpenCustodian — AUM threshold crossed
Ch VIII · Reg 132What is triggered?Not triedOpenNew Compliance Officer appointed
Ch II · Reg 7, Reg 13What does the regulation require around the change?Not triedOpenFollow-on into an 11-year-old investee
Ch III-A · Reg 23Can the scheme invest, and on what conditions?Not triedOpenESG threshold with a fund-of-funds book
Ch V · Reg 72Are the ESG governance obligations triggered?Not triedOpenInvestment Manager for a public REIT
Ch VI-B · Reg 87Can it take the mandate?Not triedOpenFamily Investment Fund — net worth question
Ch VI-C · Reg 104What is the correct position?Not triedOpenPre-first-close deployment
Ch III-A · Reg 22Is that permitted?Not triedOpenRetail scheme sector concentration
Ch III-C · Reg 47What is the position?Not triedOpenThird-party fund management — corpus cap
Ch VI-D · Reg 107Can it accept as proposed?Not triedOpenInspection readiness — internal policies
Ch VIII · Reg 119, Reg 118What is the gap against the amended regime?Not triedOpenPMS advisory — which rulebook
Ch VI-A · Reg 80Is that correct after the Second Amendment?Not triedOpenWinding up on failure to reach corpus
Ch VIII · Reg 131, Reg 35What is the consequence?Not triedOpenAssociate test after the amendment
Ch I · Reg 2, Reg 28Is the individual now an associate?Not triedOpenAdditional KMP — AUM includes a fund-of-funds book
Ch II · Reg 7Does the FME need to appoint an additional fund management KMP?Not triedOpenAdditional KMP — can the FME stop the role?
Ch II · Reg 7Must the FME keep the additional KMP?Not triedOpenAdditional KMP — FME set up by a sovereign wealth fund
Ch II · Reg 7Is an additional fund management KMP required?Not triedOpenRetail FME — when the fund management KMP must be in place
Ch II · Reg 7When must the additional fund management KMP be appointed?Not triedOpenRegistration — deficiencies communicated
Ch II · Reg 14What is the risk?Not triedOpenVC scheme — extending PPM validity
Ch III-A · Reg 19What should the FME do?Not triedOpenVC scheme — timing the FME's contribution
Ch III-A · Reg 28Is that timing acceptable?Not triedOpenVC scheme — accredited investor base and the contribution
Ch III-A · Reg 28Which is right?Not triedOpenOpen-ended restricted scheme — minimum contribution
Ch III-B · Reg 40What is the minimum FME or associate contribution?Not triedOpenRetail index scheme — is a contribution needed?
Ch III-C · Reg 52Is the FME contribution mandatory?Not triedOpenCustodian — fund of funds above USD 70 million
Ch VIII · Reg 132Must the FME appoint a custodian for this scheme?Not triedOpenBusiness continuity plan after an office move
Ch VIII · Reg 121Is that enough?Not triedOpenScenarios are for learning. They apply the provision named on each one to simplified facts. Real situations need a review of the full provision and your own facts.
Meet the expert
CS Prashant Kumar
Company Secretary & Compliance Officer
Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker
Published in The Chartered Accountant (Jun 2025, Jan 2025, Mar 2024) and Chartered Secretary (Aug 2023)
Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.