VC scheme — extending PPM validity
Scenario 22 of 28 · Reg 19
A Venture Capital scheme's placement memorandum was taken on record 12 months ago and its validity ends tomorrow. The minimum corpus for first close has not been reached. The FME has already taken one extension on a different scheme and assumes only one is allowed per scheme.
What should the FME do?
Choose an answer to see the verdict and the approach.
Scenarios are for learning. They apply the provision named 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.