Ozg Regulatory Affairs Consultant
&
Ozg Registration, Approval & Licensing Consultant
Ozg Center | New Delhi| Mumbai
Back Office Phone # 098.114.156.05-16- 27-60-81-91
Office Hours: Mon - Sat, 10:00 a.m. - 5:30 p.m. IST
Email: license.consultant@ozg.co.in\
Note: To visit at any Ozg Center, an appointment is required.
www.sebiRegistration.com
HOW TO GET REGISTERED AS A VENTURE CAPITAL FUND
The Applicant for grant of
registration as a Venture Capital Fund under SEBI (Venture Capital Funds)
Regulations, 1996 should make an Application to SEBI in Form A along with all
the necessary documents.
Generally on receipt of
Application, the applicant will receive a reply from SEBI within 21 working days. The time taken for
registration however, depends on how fast the requirements are complied with by
the applicant.
The
applicant is advised to go through the SEBI (Venture Capital Funds) Regulations,
1996 for checking the eligibility criteria and such other details which may
help expedite the registration process. As an integral part of the registration
process, the applicant will submit:
1.
Form A along with the Application fees of Rs.1,00,000
and documents as under:
a) Copy of Memorandum
and Articles of Association in case the applicant is set up in the form of a
Company (Reg. 4(a) )
or
Copy of Registered Trust Deed in case
the applicant is set up in the form of
a trust (Reg. 4(b) )
or
Copy
of Main objective of constitution in case the applicant is set up in the form of a body
corporate. (Reg 4(c) )
b) Copy of Investment Management Agreement (only
if applicable).
Apart from
the above documents/declarations as required under the Form A, the applicant
will also be required to submit the details/information as under:
2.
Details of
the Sponsor/Settlor.
2.1 Write up on the activities of the Sponsor/Settlor,
its shareholding pattern/profile of the directors. Incase of an individual,
please state whether the individual is a
director/employee of any entity registered with SEBI.
2.2 State whether, the Sponsor/Settlor has floated
venture capital funds previously, which are registered with SEBI. If so
details. Also state whether they (Sponsor or their directors) were refused a
certificate by the Board or its certificate has been suspended under regulation
30 or cancelled under regulation 31.
2.3 State whether the Sponsor/Settlor is registered
with SEBI, RBI or any other regulatory authority in any capacity along with the
details of its registration.
2.4
State whether any of its group companies are
registered with SEBI, RBI or any regulatory authority along with the details of
its registration.
2.5
State whether Sponsor/Settlor or its holding
company is listed on any of the recognized stock exchanges in India. If so
details thereof.
2.6
State whether
the Sponsor/Settlor or its directors are involved in any litigation connected
with the securities market and any order passed against them for violation of
securities laws. If so, details.
3. Details of the Trustees/Trustee Company
3.1
Write up on
the activities of the Trustee Company/ Profile of Trustees.
3.2 Shareholding pattern and the
write up on profile of the Directors
3.3 State whether the Trustee
Company is registered with SEBI, RBI or any other regulatory authority in any
capacity along with the details of its registration.
4. Details
of the Investment Manager/Investment Advisor/Asset Management Company (AMC).
4.1
Write up on the activities of the Investment
Manager/Investment Advisor/AMC.
4.2
Shareholding pattern along with the profile of
the Directors.
4.3
State whether the Investment Manager/Advisor/AMC
is registered with SEBI, RBI or any other regulatory authority in any capacity,
along with the details.
4.4
Details of
Key Personnel/Management Team. Also state whether they are also the employees
of any SEBI registered entity. If so details.
5. State whether, the applicant is registered
with SEBI in any capacity or has applied for registration in any other capacity
with SEBI.
6. List of
all the associates registered with SEBI along with their Registration No. Please,
refer to Reg. 2(aa) of SEBI (Venture Capital Funds)
Regulations, 1996 for the definition of
the “associate company”.
7. Investment Strategy :
Disclose in detail the investment strategy of the fund (Reg. 12 (a)).
Investment strategy should
disclose the investment style or pattern, preferred sectors/industries for
investment, proposed corpus, the class of investors, life cycle of the fund and
any other information.
8. Declarations to be submitted by the applicant:
8.1 An undertaking
under Regulation 11(3) of SEBI (Venture Capital Funds) Regulations, 1996.
8.2 Undertaking under Third Schedule to SEBI (Venture
Capital Funds) Regulations, 1996.
8.3 Declaration in respect of “Fit and Proper Person” criteria as per regulation 4 A of the SEBI
(Venture Capital Funds) Regulation. 1996 and as specified under Schedule II of
the Securities and Exchange Board of India (Intermediaries) Regulation 2008.
Grant of Certificate of Registration
Once all requirements
including the Fit and Proper Person criteria have been complied with and on
intimation from SEBI for payment of Registration fees of Rs.5,00,000
as per Second Schedule to Regulations, SEBI will grant the applicant,
certification of registration as a SEBI Registered Venture Capital Fund.
Please
note the following::
·
“The
applicant” means the entity seeking registration as a Venture Capital Fund
·
Application
which is incomplete or without the necessary documents/ information/declarations
would not be accepted and would be treated as not filed. However, an intimation
to this effect will be addressed to the applicant within a reasonable period of
time
·
Applications
involving policy decisions or other considerations, might get delayed in processing and in getting registration approvals.
·
Documents/annexures
submitted along with the application need to be numbered and duly signed.
·
In case of
an Authorized signatory, please submit an authorization letter from the
Directors of the Fund.
·
The
application in Form A along with all the necessary information as enumerated
above will be addressed to The DGM,
Division of Funds-Venture Capital, Investment Management Department, and
forwarded to our T&A Division, SEBI Plot No. C4-A, “G’ Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051. Such applications will be submitted along
with the demand draft of Rs.1,00,000 towards application fees paid in favour of SEBI,
Mumbai.
Ozg Regulatory Affairs Consultant
&
Ozg Registration, Approval & Licensing Consultant
Ozg Center | New Delhi| Mumbai
Back Office Phone # 098.114.156.05-16- 27-60-81-91
Office Hours: Mon - Sat, 10:00 a.m. - 5:30 p.m. IST
Email: license.consultant@ozg.co.in\
Note: To visit at any Ozg Center, an appointment is required.
www.sebiRegistration.com
---------------------------X----------------------------
FIRST SCHEDULE – FORMS
FORM A
SECURITIES AND EXCHANGE BOARD OF INDIA
(VENTURE CAPITAL FUNDS) REGULATIONS, 1996
(SEE REGULATION 3)
FIRST SCHEDULE – FORMS
FORM A
SECURITIES AND EXCHANGE BOARD OF INDIA
(VENTURE CAPITAL FUNDS) REGULATIONS, 1996
(SEE REGULATION 3)
APPLICATION FOR GRANT OF CERTIFICATE OF REGISTRATION
AS VENTURE CAPITAL FUND
AS VENTURE CAPITAL FUND
SECURITIES AND EXCHANGE BOARD OF INDIA
Plot No. C4-A, “G’ BLOCK, BANDRA KURLA COMPLEX,
Plot No. C4-A, “G’ BLOCK, BANDRA KURLA COMPLEX,
BANDRA (EAST), MUMBAI – 400051
INDIA
INSTRUCTIONS: INDIA
i. This form is
meant for use by the company or trust (hereinafter referred to as the
applicant) for application for grant of certificate of registration as venture
capital fund.
ii. The applicant
should complete this form, and submit it, along with all supporting documents
to the Board at its head office at Mumbai.
iii.
This application form should be filled in accordance with these regulations.
iv. The
application shall be considered by the Board provided it is complete in all
respects.
v.
All answers must be legible.
vi. Information which
needs to be supplied in more detail may be given on separate sheets which
should be attached to the application form.
vii.
The application must be signed and all signatures must be original.
viii. The application must be
accompanied by an application fee as specified the Second Schedule to these
regulations.
1.
Name, address of the registered office,
address for correspondence, telephone number(s), fax number(s), telex number(s)
of the applicant and the name of the contact person.
·
2. Please indicate to which of the
following categories the applicant belongs.
(i) a company established under the
Companies Act, 1956 (1 of 1956)
(ii) a trust set up under the Indian
Trusts Act, 1882 (2 of 1882)
·
3. Date and place of incorporation or establishment
and date of commencement of business (enclose certificate of incorporation,
memorandum and articles of association or trust deed in terms of which
incorporated or established).
·
4. (a) Details of members of the Board of Trustees or directors of the
trustee company, as the case may be, in case the applicant has been set up as a
trust.
(b) Details of members of the Board of
Directors of the venture capital fund in case the applicant has been set up as
a company.
·
5. Please state whether the applicant, his partner,
director or principal officer is involved in any litigation connected with the
securities market which has an adverse bearing on the business of the
applicant; or has at any time been convicted for any moral turpitude or at any
time has been found guilty of any economic offence. In case the applicant is a
trust, the above information should be provided for the members of the Board of
Trustees or of the above mentioned persons connected with the Trustee Company.
If yes, the details thereof.
·
6. Please also state whether there has been any
instance of violation or non-adherence to the securities laws, code of
ethics/conduct, code of business rules, for which the applicant, or its parent
or holding company or affiliate may have been subject to economic, or criminal,
liability, or suspended from carrying out its operations, or the registration
revoked temporarily.
·
7. Details of asset management company, if any.
(enclose copy of agreement with the asset management company).
·
8. Declaration statement (to be given as below).
We hereby agree and declare that the information supplied in the application, including the attachment sheets, is complete and true.
We hereby agree and declare that the information supplied in the application, including the attachment sheets, is complete and true.
AND we further agree
that, we shall notify the Securities and Exchange Board of India immediately any
change in the information provided in the application.
We further agree that
we shall comply with, and be bound by the Securities and Exchange Board of India Act, 1992, and the
Securities and Exchange Board of India (Venture Capital
Fund) Regulations, 1996, and Government of India guidelines /
instructions as may be announced by the Securities and Exchange Board of India from time to time.
We further agree that
as a condition of registration, we shall abide by such operational
instructions/directives as may be issued by the Securities and Exchange Board
of India from time to time.
For and on behalf
of...................................
(Name of the applicant)
(Name of the applicant)
Authorised signatory
..................
................
(Name) (Signature)
(Name) (Signature)
Date:
Place:
Place:
Ozg Regulatory Affairs Consultant
&
Ozg Registration, Approval & Licensing Consultant
Ozg Center | New Delhi| Mumbai
Back Office Phone # 098.114.156.05-16- 27-60-81-91
Office Hours: Mon - Sat, 10:00 a.m. - 5:30 p.m. IST
Email: license.consultant@ozg.co.in\
Note: To visit at any Ozg Center, an appointment is required.
www.sebiRegistration.com
Ozg Business Advisory
(Corporate, Legal, Financial & Management)
Phone # 09811415861-72-84-92-94
Ozg Business Advisory
(Corporate, Legal, Financial & Management)
Phone # 09811415861-72-84-92-94
