Current legal position
Current consolidated record last amended on 14 July 2026.
Source review: 14 July 2026
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Publication control:
noindex,follow. The official consolidated Regulation is controlling. The table below maps the current professional control guides; it is not a verbatim reproduction or a substitute for the numbered legal text.Official source chain
Closure status
SOURCE ANCHORED
Principal current source and grouped control map linked. Full regulation-by-regulation proviso, explanation, footnote and Schedule extraction remains open.
Grouped numbered-control map
| # | Control route | Decision purpose | Numbered anchors recorded in current guide |
|---|---|---|---|
| 1 | Definitions, categories and scope | Classify Category I, II, III, Angel Fund, Social Impact Fund, LVF and accredited-investor structures | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 2 | Registration and eligibility | Apply Regulations 3–7 to constitution, sponsor/manager fitness, infrastructure, key personnel and conditions | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 3 | Governance and fiduciary responsibilities | Allocate sponsor, manager, trustee, investment-committee, custodian and compliance responsibilities | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 4 | Category investment and borrowing restrictions | Apply Regulations 15–18 and category-specific concentration, leverage, borrowing and portfolio conditions | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 5 | Placement memorandum and investor consent | Control Regulation 9 disclosure, scheme terms, side letters, material changes, conflicted transactions and consents | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 6 | Valuation, fees, expenses and conflicts | Apply valuation independence, fee allocation, expense disclosure, related-party and conflicted-transaction controls | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 7 | Reporting, audit and depository controls | controls | Finin2min Fin in2min Knowledge SEBI Hub Priority Regulations Calculators AIF · R-07 Reporting, audit and depository controls Maintain investor, SEBI, depository, valuation, performance and audit reporting with data lineage | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 8 | Inspection, winding up and enforcement | Prepare for inspection, scheme extension/winding up, surrender, defaults and investor remediation | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 9 | Forms, PPM templates and Master Circular | Use current application, PPM, due-diligence, reporting and 3 June 2026 Master Circular requirements | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |
| 10 | 2026 amendment and transition controls | controls | Finin2min Fin in2min Knowledge SEBI Hub Priority Regulations Calculators AIF · R-10 2026 amendment and transition controls Map the 18 April and 14 July amendments, current Master Circular and any scheme-specific grandfathering | Regulations 2–7, 9–10, 12, 15–20 and 23; category/Angel Fund provisions; current Master Circular dated 3 June 2026 |