Distributions out of repayment of debt principal could now be taxed as ‘other income’ – at odds with global standards
Distributions out of debt repayments through redemption of units not treated as ‘income’, but reduce cost of acquisition – InvIT / REIT Regulations do not permit redemption of units…
SEBI has cast new investor diligence obligations on AIF managers, which extends to underlying investors
As per the new rule, the manager of an AIF is not permitted to on-board new investors or draw down capital from existing investors unless the diligence conditions have been complied with…
The term ‘causes to construct’ in the definition of ‘promoter’ under RERA has been interpreted to include private funds exercising rights typical to such investments
Protective rights of investors have been interpreted as being secondary to the rights of the homebuyers – in a conflict, the latter should be protected, notwithstanding inter-se contractual relationship between developer and fund…
Latest SC judgement uncovers Daiichi’s new approach – Fortis, IHH and, public shareholders under the gun for liabilities of Fortis’ erstwhile promoters
Public shareholders will need to brace for impact and be proactive – else risk getting the short end of the stick
Legal sanctity of the ‘theory of attribution’ possibly misplaced in the Fortis context…
Listed companies forced to publicly disclose deal details pending finalization of negotiations
Investors bereft of price and deal certainty, may even face reputational damage
Directors of listed companies may be liable for market manipulation and exposed to litigation if they publicly disclose a deal which then falls through…
