SEBI, vide circular no. CIR/CFD/CMD1/168/2019 dated December 24, 2019 introduced a Stewardship Code for all Mutual Funds and all categories of AIFs, in relation to their investment in listed equities. The Code was to come into effect from April 1, 2020.
The SEBI has extended the implementation of the circular on Stewardship Code to July 1, 2020.
The Circular is issued in exercise of the powers conferred under Section 11 of the Securities and Exchange Board of India Act, 1992 read with provisions of Regulation 77 of SEBI (Mutual Funds) Regulations 1996 and Regulation 36 of SEBI (Alternative Investment Funds) Regulations, 2012.