Treelife Resources

A continuation fund lets a private equity manager keep holding an asset it believes still has upside, while giving the fund’s existing investors a choice: cash out now at an agreed valuation, or roll their stake into a new vehicle that continues to own the same asset on a fresh…

The Securities and Exchange Board of India (SEBI) overhauled the regulatory framework for angel funds with the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2025, notified on 08 September 2025, followed by Circular No. SEBI/HO/AFD/AFD-POD-1/P/CIR/2025/128 dated 10 September 2025. The changes are more structural than cosmetic: angel funds are no…

India’s formal venture capital ecosystem crossed ₹15.74 lakh crore in total commitments as of December 2025, spread across 1,849 Securities and Exchange Board of India (SEBI) registered Alternative Investment Funds (AIFs), up from 732 five years earlier. For first-time fund managers and operator-investors who want a legitimate, investable vehicle with…

An Alternative Investment Fund does not collect an investor’s full commitment upfront. It calls capital in tranches, through a formal notice, as investment opportunities arise. This commitment-drawdown model is central to how private equity, venture capital, and credit funds operate in India, but it also creates a specific point of…

Carried interest is the single largest driver of a fund manager’s personal wealth, and also the least settled item on an Indian fund’s tax position. A tax tribunal ruling involving a set of Indian venture capital funds once recharacterised carry as a service fee rather than investment income, and that…

The Securities and Exchange Board of India (SEBI) overhauled the regulatory framework for angel funds with the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2025, notified on 08 September 2025, followed by Circular No. SEBI/HO/AFD/AFD-POD-1/P/CIR/2025/128 dated 10 September 2025. The changes are more structural than cosmetic: angel funds are no…

When an Indian company pays its US parent for management support, or bills its Singapore subsidiary for software development, that transaction does not exist in a regulatory vacuum. The Income Tax Department, the GST authorities, and the Reserve Bank of India each have a view on whether the price is…

Every Indian company that transacts with a foreign parent, subsidiary, or group entity faces a specific compliance obligation under Indian tax law: establish, document, and certify that the price charged in those transactions is what two unrelated parties would have agreed on in the same circumstances. This is the arm’s…

India has signed Double Taxation Avoidance Agreements (DTAAs) with over 90 countries, yet it remains one of the most aggressive jurisdictions globally in asserting permanent establishment (PE). The rules draw from the Income Tax Act 1961, the new Income Tax Act 2025 (effective 1 April 2026), and treaty-level Article 5…

Any transaction between a parent company and its subsidiary in India sits at the intersection of four regulatory frameworks simultaneously: the Companies Act 2013 (board approvals and disclosures), the Income Tax Act 2025 (transfer pricing), the Goods and Services Tax framework (reverse charge on imported services), and the Foreign Exchange…

SEBI issued its updated Master Circular for Alternative Investment Funds (AIFs) on 03 June 2026, consolidating every circular, clarification, and regulatory change issued under the SEBI (Alternative Investment Funds) Regulations, 2012 up to 31 May 2026. The document runs 153 pages across 25 chapters and supersedes the previous Master Circular…

The Reserve Bank of India held its benchmark repo rate steady at 5.25% at the June 2026 Monetary Policy Committee meeting, unanimously, under Governor Sanjay Malhotra. This is the third meeting in a row that the rate has stayed put, following a run of 150 basis point cuts between February…

India’s Cabinet approved an amendment to Press Note 3 (PN3) of 2020 in March 2026, and it is generating significant attention across the investment and startup community. Headlines have rushed to label it a sweeping FDI liberalisation. The reality is considerably more targeted. This report breaks down exactly what changed,…

The Securities and Exchange Board of India (SEBI) recently announced a major overhaul to the regulatory framework for Angel Funds under the Alternative Investment Funds (AIF) Regulations, 2012. This new framework, introduced in 2025, aims to enhance transparency, improve operational clarity, and encourage investor participation. In this article, we’ll explore…

In a significant move to invigorate India’s startup ecosystem, the Securities and Exchange Board of India (SEBI), during its board meeting on June 19, 2025, approved substantial changes to the Angel Fund Framework. These revisions are designed to unlock more capital for early-stage companies while simultaneously ensuring enhanced investor suitability…