The International Financial Services Centres Authority has set up a Committee of Experts 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.

The Committee consists of the following :

• Shri K P Krishnan (IAS-Retd.) - Chairman,
• Shri J Ranganayakulu (Former ED-Legal, SEBI) - Member
• Shri Bobby Parikh (Managing Partner, Bobby Parikh & Associates) - Member
• Shri Ketan Dalal (Founder, Katalyst Advisors LLP) - Member
• Shri Tushar Sachade (Partner, PWC) - Member
• Shri Jitesh John (Director, Department of Economic Affairs) - Member
• Shri Pranay Chaturvedi (Deputy Director, Ministry of Corporate Affairs) - Member
• Shri Denning K. Babu (DGM-Legal, IFSCA) – Member Secretary