Toh hua kya hai, SEBI ne bola hai ki ab se Alternative Investment Funds (AIFs) ke liye fund ko bandh (wind-up) karna thoda aasan ho jayega. Kai baar funds litigation ya tax demands ke chakkar mein ad jaate hain, jisse fund poora bandh nahi ho paata aur managers ko extra hassle hota rehta hai. Is problem ko solve karne ke liye SEBI ne ek naya 'inoperative fund' status introduce kiya hai. Jo AIFs iss category mein aayenge, unke liye compliance requirement bahut kam ho jayegi. Lekin, yeh status paane ke liye fund ko dikhana padega ki unke paas litigation ya tax notice hai, aur unhe at least 75% investors ki permission leni hogi potential liabilities ke liye. Agar operational expenses ke liye paisa rokna hai, toh uska bhi proof dena hoga, aur yeh amount fund ke original end date se 3 saal tak hi ho sakta hai.
Is status mein aane wale funds ko periodic filings, PPM updates, aur performance benchmarking jaise cheezein nahi karni padengi, jab tak unka registration officially surrender nahi ho jata. Matlab, jo funds ab active investments nahi kar rahe, unka admin burden bohot kam ho jayega.
Yeh sab tab ho raha hai jab India mein AIF sector kaafi grow kar raha hai. December 2025 tak AIFs ka AUM badh kar ₹15.74 lakh crore ($188 billion) ho gaya hai aur India mein 1700+ registered AIFs hain. Global fund termination practices bhi aise cases ko dekhti hain, aur SEBI ka yeh move isi ko follow kar raha hai.
Haan, ek chhota risk yeh hai ki yeh 'inoperative funds' dormant ho sakte hain, aur SEBI ko in par nazar rakhni padegi. Overall, SEBI ka goal hai ki AIFs ka lifecycle smooth ho aur unka compliance burden kam ho, jabki regulatory oversight maintain rahe.