Responsibilities of Investors (Contributors)
(In accordance with SEBI (Alternative Investment Funds) Regulations, 2012 and Fund Documents)
1. Capital Commitment & Drawdowns
Investors shall honor their Capital Commitments by funding drawdown notices issued by the Fund Manager within the stipulated timelines. Failure to meet drawdowns within the due date may result in the investor being treated as a Defaulting Contributor, leading to suspension of rights, forfeiture of units, or other remedies as per the Fund Documents.
2. KYC/AML Compliance
Investors must provide complete and accurate KYC, AML, FATCA, and UBO disclosures as required under Indian law. Any change in beneficial ownership, tax residency, or compliance status must be immediately communicated to the Fund Manager.
3. Information Obligations
Investors shall provide any information or documentation reasonably requested by the Fund Manager , Trustee, auditors, or regulators for compliance, tax, or reporting purposes. Investors shall ensure accuracy and timeliness of information submitted to the Fund.
4. Confidentiality
Investors shall maintain the confidentiality of Fund Documents, portfolio information, investment strategy, and other proprietary information disclosed to them. No investor may make public announcements or disclosures about the Fund without prior written approval of the Fund Manager.
5. Compliance with Laws
Investors shall ensure that their participation in the Fund is in compliance with applicable laws (including FEMA, RBI, SEBI, Income Tax Act, etc.). Non-resident investors must obtain necessary approvals or comply with FEMA regulations, as applicable.
6. Non-Interference in Management
Except for rights specifically granted under the Fund Documents (e.g., voting rights, super-majority approval matters), investors shall not interfere with day-to-day management or investment decisions of the Fund.
7. Dispute Resolution
Investors agree to resolve disputes through the dispute resolution mechanism set out in the Contribution Agreement/PPM (including arbitration or SEBI forums, as applicable).
8. Tax Obligations
Investors shall be responsible for their own tax liabilities arising from distributions, subject to the Fund’s withholding obligations under Indian law. Investors must provide valid PAN, TAN, and tax residency certificates (where applicable).
9. Give-Back Obligations
Investors agree to comply with Give-Back obligations, if invoked, to return previously distributed amounts to meet liabilities, expenses, or indemnities of the Fund, in accordance with the Fund Documents.
10. Transfer of Units
Investors may transfer or assign their units only in accordance with SEBI Regulations and Fund Documents, with prior approval of the Fund Manager/Trustee where applicable.
11. Validity & Applicability
This Policy 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.