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In the recent RBI Index Circular vide RBI/2021-22/38, A.P.(DIR Series) Circular No. 04 dated 12.05.2021 (“the Circular”), it has been declared that any contribution by a sponsor Indian Party (“IP”) towards an AIF (“Alternative Investment Fund”) set up in overseas jurisdiction, including IFSCs (“International Financial Service Centre”), in accordance with the laws of the host...

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