Dispute Resolution Mechanism

1. Objective

This mechanism sets out the procedure for resolution of disputes arising between Contributors, the Investment Manager, and/or the Trustee in connection with the Fund, ensuring fairness, efficiency, and compliance with Indian law.

2. Scope

This clause applies to disputes relating to:

• Capital commitments, drawdowns, distributions, or expenses;
• Interpretation of Fund Documents (Trust Deed, PPM, Contribution Agreement, Side Letters);
• Rights and obligations of Contributors, the Investment Manager, and the Trustee;
• Breach of fiduciary duties, misrepresentation, or regulatory violations;
• Any other matter concerning the Fund’s operations.

3. Stepwise Resolution Process

1. Amicable Settlement: Parties shall first attempt to resolve disputes through mutual consultation within 30 days of the dispute being notified in writing.
2. Mediation: If unresolved, the matter shall be referred to mediation under the supervision of the Trustee, with participation from a neutral third-party mediator, if required. Mediation to be concluded within 45 days.
3. Arbitration: Failing amicable settlement or mediation, disputes shall be referred to arbitration under the Arbitration and Conciliation Act, 1996.
   • Arbitration Tribunal: Sole Arbitrator appointed jointly by the Investment Manager and Super-Majority of Contributors (75% by value). If no agreement, appointment shall be made in accordance with the Act.
   • Seat & Venue: New Delhi, India.
   • Language: English.
   • Final & Binding: The arbitral award shall be final and binding on all parties.

4. Jurisdiction

Subject to arbitration, the courts of New Delhi shall have exclusive jurisdiction over matters arising from the Fund Documents.

5. Regulatory Escalation

Nothing in this clause prevents investors from raising grievances with SEBI through SCORES or other statutory authorities. Regulatory compliance and investor protection obligations remain unaffected by arbitration.

6. Costs

Each party shall bear its own costs of amicable settlement/mediation. Arbitration costs (tribunal fees, administrative expenses) shall be shared equally unless otherwise directed by the arbitrator.

7. Validity & Applicability

Shall be effective from 23rd July 2024, being the date of grant of SEBI registration to VentureX Fund I, and shall remain valid until the full distribution of the Fund’s assets and formal closure of the Fund in accordance with SEBI (AIF) Regulations, 2012.