SEBI, vide its circular dated June 21, 2023, has mandated all schemes of AIFs (except for schemes whose tenure (excluding permissible extensions) ends on or before April 30, 2024) to issue or convert their units in dematerialised form subject to conditions specified by SEBI from time to time and in compliance with the below mentioned […]
SEBI, vide notification dated June 15, 2023, has notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2023 to further amend the SEBI (Alternative Investment Funds) Regulations, 2012. Few of the key amendments are: (a) introduction of a new category of Alternative Investment Funds (“AIFs”) known as ‘Specified Alternative Investment Fund’; (b) requirement of issuing AIFs […]
We are pleased to share with you the link to our newsletter “Legalaxy” for June, 2023, providing updates on the recent and relevant legal developments in India. Below are the key highlights of the newsletter: TRAI issues direction on digital consent acquisition to curb the pesky calls and messages OTT platforms must display tobacco warnings The […]
We are pleased to share with you a copy of our latest publication ‘Competition News Alert’, briefing on recent gazette notification, S.O. 2228(E), dated 18th May 2023, wherein the Government of India, Ministry of Corporate Affairs has enforced certain important Sections/provisions of the Competition (Amendment) Act, 2023 with effect from 18 May 2023. We trust that […]
The National Company Law Appellate Tribunal, Chennai (“NCLAT”), by a judgment pronounced on March 29, 2023, in the matter of Union Bank of India v. Mr. P. K. Balasubramanian [Company Appeal (AT) (CH) (Ins) No. 293 of 2022] has held that the Insolvency and Bankruptcy Code, 2016 (“IBC”) does not contemplate multiplicity of applications against […]
The National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has, in its judgement dated March 29, 2023 (“Judgement”), in the matter of Shri Baiju Trading and Investment Private Limited v. Mr. Arihant Nenawati and Others [Company Appeal (AT)(Ins.) No. 699 of 2021], held that ‘fraud’ for the purpose of Section 66 (Fraudulent trading or wrongful […]
