Category: Uncategorized
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Part II- DoJ & SEC v Adani: The U.S. Law Perspective
Part II- DoJ & SEC v Adani: The U.S. Law Perspective 16 December, 2024 Download PDF Key Takeaways The U.S. SEC and DoJ have alleged civil and criminal violations by Adani Group’s Gautam Adani, Sagar Adani and Vneet Jain The allegations against them are in their capacity as key managerial personnels at Adani Green Energy…
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The Adani Indictment: Untangling the Legal Web of Potential Violations in India
Allegations in the Adani indictment, if true, raise several questions about the company’s potential violations under Indian securities laws Critically, questions around the timing of disclosures and accuracy of statements made – are there lessons to be learnt?….
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FPI To FDI Reclassification: SEBI, RBI Lay Down SOP
FPI To FDI Reclassification: SEBI, RBI Lay Down SOP November 22, 2024 Authors: Hrishikesh Anand & Payaswini Upadhyay What? SEBI, RBI clarify the process for reclassifying FPI investments as FDI Existing framework lacked detailed guidelines on such reclassification As per law, an investor cannot be an FPI and FDI in the same entity. FPI investments…
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Part II: Deal Value Trigger and CCI Approval – How does it affect dealmaking?
Part II: Deal Value Trigger and CCI Approval – How does it affect dealmaking? 15 November, 2024 Download PDF Key Takeaways CCI has notified a new filing trigger linked to deal value – a numerical threshold of over INR 2000 crore + substantial business operations in India test If breached, a CCI filing will be…
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Amendments To InvIT Voting Thresholds
Amendments To InvIT Voting Thresholds October 24, 2024 Authors: Anirudha Sapre & Payaswini Upadhyay What? SEBI amends the InvIT regulations, clarifies that all votes at a unitholder meeting will be calculated on a ‘present and voting’ basis Amendment also simplifies the language of the provisions that spell out the voting thresholds for ordinary unitholder resolutions…
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Part 1: CCI approval for minority PIPE deals – to file or not to file?
CCI’s recent changes streamline the ‘solely as investment’ exemption – most relevant for minority PIPE investments
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Paytm’s ESOP Scheme Stock Options To Founders Under SEBI Scanner
Paytm’s Esop Scheme Stock Options To Founders Under SEBI Scanner October 15, 2024 Authors: Shreejith R & Payaswini Upadhyay What? Just prior to its listing in 2021, Paytm called a shareholder vote to approve removal of its founder Vijay Shekhar Sharma as promoter Paytm then granted Sharma 21 million stock options – which it couldn’t…
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India’s New Global M&A Flavour: Cash-free M&A, SPACs, Roll-ups now possible?
Foreign expansion of Indian companies gets a boost – offshore acquisitions now allowed by share swaps SPACs and roll-ups greenlit – foreign investors can now acquire Indian companies by a share swap….
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Should investors be subjected to “gift-tax” when subscribing to listed shares?
Listed companies generally issue the shares at SEBI mandated floor price. However, allotment of shares due to procedural requirements can happen only after a month or more resulting in stock price run up and notional gains This run up in market price may inadvertently be caught under ambit of “gift tax”, which seeks to tax…
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Should Holding Companies Like Tata Sons Be Forced to List?
Should Holding Companies Like Tata Sons Be Forced to List? August 14, 2024 Author: Sharia Shoaib What? RBI’s Scale Based Regulations (SBR) classified Tata Sons, a core investment company (CIC) in the upper layer of Non-Banking Financial Companies (NBFC-UL) in September 2022, subjecting it to the mandatory listing requirement by September 2025 SBR for NBFCs…