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How SEBI Clipped The Wings Of India’s Real Angels – StartupCentral

Some shrewd, backroom lobbying over the past 15-odd months played a critical role in last week’s unveiling of the much awaitedinvestment framework for angel investors by SEBI. Yet, the framework, though ground breaking in several ways, doesn’t quite solve the original problem that led to its making. In fact, it leaves the country’s real angels — family members and friends, usually the first source of capital for an entrepreneur — a bit in the lurch. Angel investments made by family, friends or any individual not investing through a SEBI-registered angel fund, will still be subject to be taxed as income at the hands of the investee company. While that doesn’t spell the death of grassroots angel investing in the country, it certainly makes life that much more difficult for both entrepreneurs and their most genuine benefactors. There are ways around the…

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