Author: admin
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Chevron Deference Struck Down: End of Regulator as Judge, Jury and Executioner?
Chevron Deference Struck Down: End of Regulator as Judge, Jury and Executioner? July 11, 2004 Authors: Sidharth Kumar & Shivam Yadav What? The United States Supreme Court has struck down a doctrine of administrative law known as “Chevron deference” in Loper Bright v. Raimondo, by a majority of 6-3 The doctrine held that federal courts…
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The Road To Take-Private In India: What’s The Most Efficient Route For Deal-Making?
Fixed price delisting debuts as an alternative to RBB, but lackluster in the absence of counter-offer ability Reverse Book Building (RBB) made a bit more palatable with easing of counteroffer mechanics, yet route continues to remain inadequate ….
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IPO-Bound Companies: SEBI Sees Private Equity’s POV
IPO-Bound Companies: SEBI Sees Private Equity’s POV June 27, 2024 Authors: Anirudha Sapre & Payaswini Upadhyay What? SEBI, in an advisory to merchant banks, has allowed for investor protection rights of a shareholder (such as board seat, veto, pre-emptive rights etc) to continue till the company is listed SEBI’s earlier advisory [dated May 29] required…
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Telangana High Court’s GAAR Ruling: Much Ado About Nothing?
NEWSWIRE NewsWire aims to deliver a comprehensive range of perspectives on regulatory developments, landmark judicial decisions, governance, and policy matters. We believe in the strength of collaboration to provide insights that are both actionable and well-considered.NewsWire aims to deliver a comprehensive range of perspectives on regulatory developments, landmark judicial decisions, governance, and policy matters. We…
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Indian HNI investments into offshore funds – RBI addresses industry concerns
Indian HNI investments into offshore funds – RBI addresses industry concerns June 12, 2024 Author: Aditya Jain & Shivam Yadav What? Indian individuals can now invest in offshore investment funds setup as companies or partnerships, which though unregulated themselves are managed by a regulated investment manager as per the RBI circular dated June 07, 2024…
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RBIs draft lending norms – how big will the impact be on infra projects?
RBIs draft lending norms – how big will the impact be on infra projects? June 7, 2024 Author: Aditya Jain What? On May 3rd, 2024 RBI released ‘stricter’ draft norms for banks, NBFCs and FIs lending to under-construction projects Provisioning requirements proposed to be increased from 0.4% to 5% during construction phase for standard assets…
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AIFs Subjected To Beneficial Ownership Threshold Of 10% – Implications?
AIFs Subjected To Beneficial Ownership Threshold Of 10% – Implications? Shivam Yadav What? Since Jan 2024, foreign investors in AIFs have been required to comply with ‘beneficial ownership’ (BO) norms under AML law (PMLA) requiring disclosure of the ultimate natural person investing more than 10% in the foreign investor or exercising control This moves away…
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Public M&A: JV’s with exclusivity under SEBI’s scanner – The Linde Case
Independent Directors must pay closer attention to transactions with related parties. They should ask- are there any non-price factors that are not reflected in the transaction price? If yes, what is the value of these factors? Can they trigger the materiality threshold and need shareholder approval? Non-price factors could be a non-compete clause, especially crucial…
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SEBI’s New Price Protection Regime – Is Deal Making Really Safeguarded?
SEBI’s New Price Protection Regime – Is Deal Making Really Safeguarded? Shreyas Bhushan What? SEBI’s 2023 consultation paper re: market rumour verification offered 2 price protections for public M&A: (A) insulate deal making from post-verification price fluctuations for 60-180 days; and (B) price protection only for 1 day after rumour verification SEBI has now adopted…
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ICICI Securities Delisting: What really are the issues?
ICICI Bank is delisting ICICI Securities through the first court driven delisting in India Reverse book building process avoided – taking a specific exemption under Regulation 37 intended for companies in ‘same line of business’ – why did SEBI grant the exemption? ….