Define special situation fund. How investment in special situation fund is made as per SEBI (AIF) Regulations, 2012 as amended?

Definition of Special Situation Fund As per SEBI (Alternative Investment Funds) Regulations, 2012, a 'Special Situation Fund' means a Category I Alternative Investment Fund that invests in special situation assets in accordance with its investment objectives and may act as a resolution applicant under the Insolvency and Bankruptcy Code, 2016. Investment in Special Situation Funds As per SEBI (AIF) Regulations, 2012 (as amended), the investment in special situation funds is made as follows: Corpus: Each scheme of a special situation fund shall have a corpus as may be specified by the SEBI. Minimum Investment from Investor: The special situation fund shall accept from an investor an investment of such value as may be specified by the SEBI. Restriction on AIF Investments: The special situation fund shall not accept investments from any other Alternative Investment Fund other than a special situation fund itself. This means AIFs generally cannot invest in other AIFs, with the exception of one special situation fund investing in another.