Top 5 Tax Considerations When Structuring Debt Investments in India April 18, 2022 As distinctions between debt and equity are collapsing, investors may face challenges when interpreting applicable tax rules when investing into structured debt instruments. Different regimes have adopted varied approaches when classifying convertible instruments as either debt or equity. Tax authorities are… Continue reading Top 5 Tax Considerations When Structuring Debt Investments in India
Threat of valuation litigation in Public M&A – Carlyle-PNB Effect! March 31, 2022 Unsuccessful sale processes, struggling lender, fund-raise and tender offer, vigorous activism, enhanced scrutiny of board responsibilities and litigation, terminated fund raise process and finally a rights issue – or, in three words, PNB Housing Finance (PNBHFL). In what could be a landmark… Continue reading Threat of valuation litigation in Public M&A – Carlyle-PNB Effect!
Analysis SEBI Introduces Special Situation Funds: Opens doors for acquisition of stressed loans without ARC intermediation One of the biggest challenges faced by offshore funds wanting to invest in bad loans in India was necessary intermediation by a third party Asset Reconstruction Company (ARC). In most cases, the structure involved the ARC sponsoring and managing… Continue reading SEBI Introduces Special Situation Funds: Opens doors for acquisition of stressed loans without ARC intermediation
GIFT City – Analysing New Fund Management Regulations and why GIFT City still doesn’t work June 20, 2022 The International Financial Services Authority (IFSCA) – the unified regulator for GIFT City – recently released the draft IFSCA (Fund Management) regulations, 2022 (Draft Regulations). The Draft Regulations propose a wholesale overhaul of the investment funds regime… Continue reading GIFT City – Analysing New Fund Management Regulations and why GIFT City still doesn’t work
Analysis SEBI formalises the use of co-investments but leaves some question marks? Through a series of amendments to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (the “AIF Regulations”) and the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 (the “PM Regulations”), the Securities and Exchange Board of India… Continue reading SEBI formalises the use of co-investments but leaves some question marks?
We regularly write on Fund Formation, PE, PIPE and M&A, Structured Finance, Fund Litigation, Governance and Stewardship. Stay tuned.
