India, March 17 -- Over the past year or so, the stock market regulator, Sebi, seems worried about AIFs, or alternate investment funds. Even recently, the Sebi chief hinted at possible changes that were required in its sub-ecosystem, even as it released a consultation paper largely related with the winding up of AIFs. Most experts feel that the regulator wants to tighten the screws, or its oversight over AIFs to tackle multiple issues. It has resorted to measures such as mandated due diligence, direct plans, and stricter custody to ensure investor protection. However, these may not be enough, and Sebi wants to do more, even as it wishes to adopt a hands-off approach to ensure minimal interference. Caught between the two extremes, the regu...