SAT Ruling To Aid Appointment of Independent Directors

simple white desk on a white wall with a plant on the far right side

June 06, 2023 | 3 comments

The Securities Appellate Tribunal (SAT) has ruled against the Securities and Exchange Board of India (Sebi) and NSE in a recent matter that pertains to the appointment of an independent director (ID) by Nectar Life Sciences.

SEBI Consulting Papers For The Alternative Investment Funds (‘AIFs’) and Foreign Venture Capital Investors (‘FVCIs’)

June 06, 2023 | 3 comments

The Securities and Exchange Board of India (‘SEBI’) has issued new series of consulting papers for the alternative investment funds (‘AIFs’) and foreign venture capital investors (‘FVCIs’) on May 18, 2023 and May 23, 2023.

Compulsorily Convertible Debentures (‘CCD’) May Not Be Treated as Financial Debt But the Unpaid Interest On CCDs Is to be Treated As Financial Debt For the Purpose Of Insolvency

June 06, 2023 | 3 comments

In a recent ruling, the Hon’ble National Company Law Tribunal (‘NCLT’) evaluated as to whether the principal amount compulsorily convertible debentures (‘CCDs’) and / or the interest thereon constitute financial debt as per the provisions of the Invsolvency and Bankruptcy Code, 2015 (‘IBC’)

Angel tax provisions upto the Finance Act, 2023

June 06, 2023 | 3 comments

Pursuant to the interaction with various stakeholders, the Ministry of Finance / CBDT decided to make amendments to the Angel Tax Provisions and Rule 11UA

Redeemable preference shares to be treated as debt in certain circumstances¹

June 06, 2023 | 3 comments

In a recent ruling, the Hon’ble Delhi High Court evaluated as to whether redeemable preference shares (‘RPS’) issued by a company could be treated as a part of the net-worth of the Company and in what circumstances the RPS could be treated as debt:

Blogs by illume

SAT Ruling To Aid Appointment of Independent Directors

SEBI Consulting Papers For The Alternative Investment Funds (‘AIFs’) and Foreign Venture Capital Investors (‘FVCIs’)

Compulsorily Convertible Debentures (‘CCD’) May Not Be Treated as Financial Debt But the Unpaid Interest On CCDs Is to be Treated As Financial Debt For the Purpose Of Insolvency

Angel tax provisions upto the Finance Act, 2023

Redeemable preference shares to be treated as debt in certain circumstances1

Redeemable preference shares to be treated as debt in certain circumstances¹