About Clasis Law

Clasis Law is one of the leading full-service Indian law firms which provide speedy services while upholding the law and following every regulation in the book. The firm is recognized as highly professional and process-driven, with the necessary systems and infrastructure to provide hassle-free services to clients. It has an established capability and operational ability to advise clients across borders through its vibrant network of international law firms located around the globe, including in some of the most difficult jurisdictions in the world. The firm's clients range from Fortune 500 companies to SMEs and small businesses. In addition, it provides specialized services to international SMEs that choose India as their preferred investment destination.

SEBI issued a Master Circular for Foreign Venture Capital Investors (FVCIs)

SEBI has been issuing various circulars from time to  time  for  effective  regulation  of  FVCIs.  In order  to  enable  the stakeholders to have an access to all the applicable requirements / circulars at one place, the provisions of the said circulars are incorporated in this Master Circular for FVCIs. This Master Circular shall come into force from the date of its issue. This Master Circular rescinds the following  circulars/directions  issued  by  SEBI with  regard  to FVCIs till date:

  1. SEBI Circular No. IMD/DOF-1/FVCI/CIR.No.1/2009 dated 3 July 2009,
  2. SEBI Circular No. SEBI/IMD/DOF-1/FVCI/CIR-1/2010 dated 12 January 2010,
  3. SEBI Circular No. SEBI/HO/IMD/DF1/CIR/P/2017/75 dated 6 July 2017.

Notwithstanding such rescission,

  1. anything done or any action taken or purported to have been done or taken under  the  rescinded  circulars, including  registrations  or  approvals  granted, fees   collected,   registration   suspended   or   cancelled,   any   inspection   or investigation  or  enquiry  or  adjudication  commenced  or  show  cause  notice issued prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular;
  2. any  application  made  to SEBI under  the  rescinded  circulars,  prior  to  such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular;
  3. the  previous  operation  of  the  rescinded  circulars  or  anything  duly  done  or suffered  thereunder,  any  right,  privilege,  obligation  or  liability  acquired, accrued    or  incurred  under  the  rescinded  circulars,  any  penalty,  incurred  in respect  of  any  violation  committed  against  the  rescinded  circulars,  or  any investigation,  legal  proceeding  or  remedy  in  respect  of  any  such  right, privilege, obligation,    liability, penalty as aforesaid, shall remain unaffected as if the rescinded circulars have never been rescinded.
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