INTRODUCTION: With the aim of enhancing “ease of doing business” and “promoting the principle of Maximum Governance and Minimum Government”, the Government of India abolished the Foreign Investment Promotion Board (“FIPB“) on May 24, 2017. In its place, the relevant administrative ministry/department in consultation with the Department for Promotion of Industry and Internal Trade (“DPIIT“)… Continue reading DPIIT ISSUED NEW SOPS FOR CLEARANCE OF FDI PROPOSAL
Introduction The Finance Act, 2015 amended Section 6 (Capital Account Transaction), Section 46 (Power of Central Government to make rules) and section 47 (Power of RBI to make regulations) of the Foreign Exchange Management Act, 1999 (FEMA, 1999). These amendments have the effect of altering the powers of the Central Government and Reserve Bank of… Continue reading Analysis on Foreign Portfolio Investor under NDI Rules, 2019
Preferential issue is one of the fastest ways of raising capital by the company. As per Regulation 2(1)(nn) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, (hereinafter referred as ‘ICDR Regulations’) Preferential Issue means an issue of specified securities by a listed issuer to any select person or group of persons on a… Continue reading PREFERENTIAL ISSUE
The term ‘Competing Offer’ refers to an offer given by any other person (Competing Acquirer) after an offer has already been given by an Acquirer to the shareholders of the Target Company to acquire the shares held by them. The Takeover Regulations permits all persons other than the original acquirer to make a competing offer and… Continue reading COMPETING OFFERS UNDER SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011 (HEREINAFTER REFERRED AS ‘TAKEOVER REGULATIONS’)
A Bonus Issue by a company refers to the further issue of shares to its’ existing shareholders, without consideration, in proportion to the voting rights or pro-rata of their holding of shares in the company. Source for Issue of Bonus Shares: As per Section- 63(1) a company may issue fully paid up bonus shares to… Continue reading BONUS ISSUE
Introduction The Ministry of Finance (Department of Economic Affairs) has notified the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 dated 17 October 2019 (Principal Rules) in supersession of erstwhile Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2017 and the Foreign Exchange Management (Acquisition and Transfer of Immovable… Continue reading Analysis of the “Foreign Exchange Management (Non debt Instruments) (Second Amendment) Rules 2020”
NEED FOR TRADING PLAN To reconcile the need to maintain the prohibition on trading in securities when in possession of Unpublished Price Sensitive Information (UPSI) with the need to provide a regime in which compliance-conscious insiders are able to put in place a compliant mechanism to trade in securities where they are insiders, the concept… Continue reading Trading Plan
In the interest of better regulation of and orderly development of the securities market, SEBI has issued a scheme called “Securities and Exchange Board of India (Informal Guidance) Scheme 2003” under section 11(1) of SEBI Act, 1992, which came into effect from 24th June, 2003. This is a formal scheme with detailed procedure for providing Informal Guidance.… Continue reading SEBI (INFOMAL GUIDANCE) SCHEME 2003
Alternative Dispute Resolution (ADR) mechanism provides scientifically developed techniques to Indian judiciary which helps in reducing the burden on the courts. ADR offers to resolve all type of matters including civil, commercial, industrial and family etc., where people are not being able to start any type of negotiation and reach the settlement. In this article we tried to… Continue reading Seat and Venue of Arbitration-Key Considerations
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