Author: admin
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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? ….
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RBI Norms on Corporate Bonds -What does it mean for Private credit?
RBI Norms on Corporate Bonds -What does it mean for Private credit? Shanaya Shah What? Banks can now hold corporate bonds under the Held to Maturity (HTM) basket No mark to market requirement, akin to government bonds Celling of up to 23% banks’ exposure to HTM bonds now removed Sales from HTM capped at 5%,…
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Shadow trading – a new chapter in Insider Trading? Learnings from US SEC
In a novel case of Shadow Trading, California District Court held that MNPI about one company could count as MNPI for another company if they are economically linked What is Shadow Trading? What is the concept of economically linked entities? How is international jurisprudence…