UPSC CAPF AC 2021 Paper

The expert committee, headed by Dr.K.P. Krishnan on Variable Capital Company has submitted its report on the feasibility of Variable Capital Companies in the International Financial Services Centres to the International Financial Services Centres Authority (IFSCA).
The Government of India established International Financial Services Centres Authority (IFSCA) in April 2020 under the International Financial Services Centres Authority Act passed by the Indian Parliament.
IFSCA had set up a Committee for examining the feasibility of the Variable Capital Company (VCC) in India with the following terms of reference:
- Comprehensive analysis of fund structures under Indian Trust Act and VCC.
- To examine VCC structure and suggest appropriate model/framework that may significantly enhance the competitiveness of IFSC in India.
- Feasibility of introducing VCC as separate chapter in Companies Act, 2013 versus need of enacting a separate legislation.
- To explore alternative structures having characteristics like VCC.
- The Committee may also deliberate on any issues which may be considered necessary but not mentioned in the above terms of reference.