Chapter IV · General Obligations, Responsibilities and Transparency
Regulation 28
Submission of reports to the Board
Chapter IV · General Obligations, Responsibilities and Transparency
SEBI (Alternative Investment Funds) Regulations, 2012
In plain English
In plain English
SEBI can at any time ask an AIF to file reports on its activities, in whatever form it requires.
What the Master Circular adds
From SEBI's Master Circular for AIFs (updated 16 June 2026). The Regulation sets the rule; the Master Circular sets how it works in practice.
- MC Ch 21
Every AIF files an Annual Activity Report on the SEBI Intermediary Portal within 30 calendar days from the end of March, and a limited Quarterly Activity Report within 15 calendar days from the end of each quarter, starting with the quarter ending June 2026.
- MC Ch 22
Performance benchmarking is mandatory. Each AIF enters into an agreement with a benchmarking agency notified by an AIF association representing at least 33% of AIFs, and reports its data to it.
Where this sits
Regulation 28 is in Chapter IV — General Obligations, Responsibilities and Transparency of the SEBI (Alternative Investment Funds) Regulations, 2012.
Provisos, explanations and conditions
This regulation has no provisos or explanations in its text. Check Connections for other provisions it refers to.
What changed
No change to this regulation by the 2026 amendments (No. 303 of 16 April 2026 and No. 313 of 10 July 2026).
Where it connects
The text of this regulation does not refer to other numbered regulations.
Related Master Circular chapters (by subject)
Chapter
Check yourself
2 practice questions on Regulation 28, each with an explanation for every option.
- Within how many days from the end of a quarter is the Quarterly Activity Report filed?
- Within how many days from the end of March is the Annual Activity Report filed?
The regulation
28. The Board may at any time call upon the Alternative Investment Fund to file such reports, as the Board may desire, with respect to the activities carried on by the Alternative Investment Fund.
Text from the consolidated Regulations. Square brackets and [***] mark earlier amendments and omissions, as in the official text. Check the official Gazette text before relying on it.
Last checked against source on 10 October 2026: consolidated Regulations to 19 November 2025, read with Amendment Regulations No. 303 (16 April 2026) and No. 313 (10 July 2026).
Source and verification
- Instrument
- SEBI (Alternative Investment Funds) Regulations, 2012 — Regulation 28
- Text used
- Consolidated Regulations as amended up to 19 November 2025, read with the 2026 amendments (no change to this regulation)
- Last checked
- 10 October 2026
- Official source
- www.sebi.gov.in → Legal → Regulations. The Gazette text prevails.
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