SEBI (Foreign Venture Capital Investors) (Amendment) Regulations, 2010 – Amendment in First Schedule

NOTIFICATION NO. LAD-NRO/GN/2010-11/22/30364, DATED 21-12-2010

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000, namely :—

1. These regulations may be called the Securities and Exchange Board of India (Foreign Venture Capital Investors) (Amendment) Regulations, 2010.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000, in the First Schedule, in Form A, after paragraph 9, the following paragraphs shall be inserted : —

“10. Please furnish firm commitment letter(s) from your investors for contribution of an amount aggregating to at least US$1 million.

11. Please furnish copies of your financial statements as well as those of your investors’ who have provided firm commitment letter(s) for the financial year preceding the one during which this application is being made.

12. Please furnish name, address, contact number and the e-mail address of all your directors.

13. Please furnish name, address, contact number and the e-mail address of all your investor(s) who have provided firm commitment letter(s) required to be furnished under paragraph 10 of this Form.”