India: Fund Management/ REITs

Securities and Exchange Board of India (“SEBI”), vide its circular dated April 8, 2026, has operationalised the mechanism for lock-in of pledged shares under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”), as part of its ease of doing business initiatives.

Sophisticated investors investing in India are no longer required to settle for the fund. Increasingly, they want the deal, i.e., the specific, high-conviction opportunity sitting inside the fund’s portfolio.

SEBI, by notification dated 16.04.2026 , has notified the SEBI (Alternative Investment Fund) (Amendment) Regulations, 2026 (“AIF Amendment Regulations”) amending the SEBI (Alternate Investment Funds) Regulations, 2012 (“AIF Regulations”).

Proposed section 57A introduces, for the first time, a statutory mechanism to convert a “specified trust” into an LLP under the LLP Act, 2008. For the AIF industry, this is a material structural reform: it gives trust-based AIFs a legislative route to convert into an LLP framework without dismantling the existing vehicle from scratch.

The Corporate Laws (Amendment) Bill, 2026 (Bill), introduced on 23 March 2026, inter alia proposes amendments to the Limited Liability Partnership Act, 2008 (LLP Act), paving the way for easier establishment of alternative investment funds (AIFs) as limited liability partnerships (LLPs).

On 23 March 2026, the Securities and Exchange Board of India (SEBI) convened its 213th board meeting in Mumbai (Meeting), announcing a series of key reforms aimed at addressing longstanding challenges faced by the Indian hybrid securities market. Among the outcomes, SEBI approved amendments to the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvITs Regulations) and the SEBI (Real Estate Investment Trusts) Regulations, 2014 (REITs Regulations), targeting practical and operational issues faced b

India's real estate sector is entering a decisive phase as rapid urbanisation reshapes how cities grow, finance infrastructure, and govern land use.

For Alternative Investment Funds (AIFs) in India, the second certainty often proves more complex than the first.

SEBI has issued a new circular that significantly tightens social media disclosure norms for all SEBI-regulated entities and their agents when they communicate securities market–related content on social media platforms.