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Ø SSFs can be launched by a registered FME Ø SSFs are permitted to acquire special situation assets, which includes: - Stressed loan available for acquisition - Security Receipts (SRs) issued by an Asset Reconstruction Company (ARC) registered with the RBI - Securities of investee companies (i) whose stressed loans are available for acquisition, (ii) against whose borrowings, SRs have been issued by an ARC, (iii) whose borrowings are subject to corporate insolvency resolution process, (iv) who has continuing default of loans, subject to conditions Ø Only close ended SSFs are permissible, with minimum tenure of 3 years Ø Extension of the tenure of the close ended special situation fund may be permitted up to two (2) years Ø subject to approval of two-thirds (2/3rd) of the investors by value: Ø Provided that any further extension beyond two (2) years may be considered subject to express consent of the investors and exit opportunity shall be provided to other investors. Ø Scheme corpus, eligible investors, investment conditions may be specified by the IFSCA Ø Leverage not permissible except to meet day to-day operational requirements Ø A special situation fund shall be constituted in IFSC as a company or LLP or Trust under the applicable laws of India.
For what was Albert Einstein awarded Nobel Prize?
Which is the longest bone in the human body?
The apparent weight of the body becomes zero in which of the following cases in the elevator?
Which of the following transitions in hydrogen atom will result in emission of radiation of longest wavelength?
The phenomenon due to which the sky appears blue is
The red colour of onion is caused by the presence of which pigment?
Which of the following is a process in which water from any source change into vapour state ‘due to heat’?
Which of the following materials has the highest thermal conductivity?
An object is placed on the axis of a concave mirror at its focus (F). The image formed is:
The direction of magnetic field inside a magnet is