RE: June 19 board meeting, SEBI approved the GARUDA mechanism

At its June 19 board meeting, SEBI approved the GARUDA mechanism for processing Placement Memorandums filed by AIFs. The framework is designed to make scheme launches faster, particularly for structures meant only for Accredited Investors, while keeping the core compliance burden intact.

The change gives fund managers more certainty on launch timelines and could help them move faster when fundraising windows or investment opportunities open. Under the new framework, Regular AIF schemes will be able to launch within 10 working days, down from the earlier 30-day timeline.

A lawyer friend of ours shared across an excellent summary, attaching below for everyone’s benefit.