SAT Ruling To Aid Appointment of Independent Directors
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’)
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
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
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
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:
Only USD 102 million FDI from GIFT City so far
Most of this investment has come in 2022-23. During the same year, $17 billion in FDI came from Singapore, and $6 billion each from Mauritius and UAE.
Reporting norms for fund management entities (‘FMEs’) in International Financial Services Centre (‘IFSC’)1
The International Financial Services Authority (‘IFSCA’) has issued a circular prescribing reporting requirements for fund management entities (‘FMEs’) registered under the IFSCA (Fund Management) Regulations, 2022 (‘IFMR’)