Securities Exchange Board of India (“SEBI”), vide its notification dated May 10, 2024, issued certification requirements for the key investment team of the manager of the Alternative Investment Fund (“AIF”). The said notification mandates that at least 1 key personnel, amongst the associated persons functioning in the key investment team of an AIF manager shall […]
We are pleased to share our bi-monthly newsletter on the latest GST and Customs Developments. The newsletter covers recent judgments and regulatory updates in the GST and Customs space in India. We trust that you will find the same useful. Looking forward to receiving your valuable feedback. For any clarification, please write to: Mr. Shammi […]
In the May edition of our monthly newsletter “Legalaxy“, our team analyses some of the key developments in securities market, banking and finance, foreign direct investment, food safety and employment. Below are the key highlights of the newsletter: SEBI notifies the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2024 SEBI notifies regulations for administration and […]
Section 12AB was inserted by the Finance Act 2020, prescribing a new procedure of obtaining fresh registration by all existing and new charitable trusts/ institutions under section 12A of the Income Tax Act, 1961 (‘the Act’), effective from 1st June 2020, which was later deferred to 1st October 2020. The section replaced the erstwhile registration process, […]
Securities Exchange Board of India (“SEBI”), vide its circular dated April 29, 2024, based on the feedback received from the market participants has relaxed the requirement of intimating changes in the terms of the Private Placement Memorandum (“PPM”) of AIFs through merchant bankers and SEBI has identified that certain changes in the terms of the […]
The Supreme Court, vide its judgement dated March 12, 2024, in the case of Mahanadi Coalfields Limited v. Brajrajnagar Coal Mines Workers’ Union [Civil Appeal No(s). 4092-4093/2024], has held that the workers who are engaged in the performance of work which is perennial or permanent in nature would not be classified as contractual workers. Facts […]
