Built from the SEBI (AIF) Regulations, 2012 and SEBI's Master Circular for AIFs (3 June 2026, updated 7 September 2026). Each item names its source.

0 of 24In place

0In progress

24Not started

0Not applicable

Governance and conduct0 of 9

Code of Conduct (Fourth Schedule) followed by the AIF, its trustee, directors or designated partners, the Manager and key management personnelReg 20
Detailed policies and procedures to keep every decision within the Regulations, the placement memorandum, investor agreements and other laws — approved jointly by the Manager and the trustee (or Board, or designated partners)Reg 20
Regular review of those policies, other internal policies and how they are appliedReg 20
Investment Committee (if constituted): decisions within the policies; members follow the Code of Conduct; external members not named in the fund documents appointed only with consent of 75% of investors by valueReg 20
Compliance Officer appointed, meeting SEBI's eligibility criteria, who reports any non-compliance to SEBI within 7 working daysReg 20
Written policies and procedures to identify, monitor and reduce conflicts of interestReg 21
Specific due diligence on investors and investments, to avoid helping anyone get around the lawReg 20
Compliance Test Report prepared at the end of each financial year in the Annexure 14 formatReg 20
Annual audit of compliance with the terms of the PPM by an internal or external auditor or legal professional (unless an exemption applies)Reg 20

Valuation, custody and accounts0 of 8

Valuation procedure and methodology, with a description given to investorsReg 23
Independent valuer appointed, meeting SEBI's criteriaReg 23
Record of any departure from the valuation policy, with the reason, reported to the trustee (or Board, or designated partners) and to investorsReg 23
Category III only: NAV worked out independently of the fund management functionReg 23
Custodian registered with SEBI for the AIF's securities (an associate custodian only if all the Reg 20(11A) conditions are met)Reg 20
Each scheme's assets, liabilities, bank accounts and securities accounts kept separate and ring-fencedReg 20
Books of accounts audited every year by a qualified auditorReg 20
Agreement with a Benchmarking Agency for half-yearly performance benchmarkingReg 22

Records of the fund's assets, valuation policies and practices, investment strategies, investors and their contributions, and the reason for each investment — kept for 5 years after winding upReg 27

Placement memorandum with all the material information Reg 11(2) lists, including fees, risk management, the Investment Committee's terms of reference and conflict-of-interest proceduresReg 11
Investor grievances resolved within 21 calendar days of receiptReg 24A
Periodic disclosures to investors, an annual report within 180 days of the year end, and (Category III) quarterly reports within 60 daysReg 22
Investor Charter followedReg 20
Investors' rights pro-rata to commitment and otherwise pari passu; any differential rights only in the manner SEBI specifiesReg 20
Investor complaints data kept in the Annexure 5 format and compiled within 7 days of each quarter endReg 24A