The Central Board of Direct Taxes vide notification dated 6th June, 2022 has clarified that an eligible investment fund registered under sub-section (8A) of section 9A of the Act shall not carry on, or participate in, the day to day operations of any person in India and for this purpose the monitoring mechanism to protect the investment in such person including the right to appoint directors or executive director shall not be considered as participation in day to day operations of such person in India.
