FME Regulatory Intelligence, Learning & Practice · IFSCA (Fund Management) Regulations, 2025
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Practical scenario · Ch VIII

Custodian — AUM threshold crossed

Scenario 4 of 28 · Reg 132

The facts

A close-ended restricted scheme that had no custodian grows to USD 85 million AUM.

The question

What is triggered?

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.

Prashant Kumar

Meet the expert

CS Prashant Kumar

Company Secretary & Compliance Officer
Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker

13+ years of experienceFCS Fellow member, ICSIAuthor Audit Under Fire

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.