Securities and Exchange Board of India (“SEBI”), vide its notification dated May 21, 2025, has notified the SEBI (Alternative Investment Funds) (Amendment) Regulations, 2025, thereby amending the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). Regulation 17(a) of the AIF Regulations has been substituted to clarify that Category II AIFs shall now invest in investee […]
We are pleased to share with you the link to our 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 […]
As per Sections 11 and 12, income of institutions/ trusts/ organization for “charitable purpose” are exempt from tax under the Act so long as the mandatory conditions under Sections 2(15)/ 12A of the IT Act are satisfied. Section 13 specifies certain prohibited instances of payments/ transactions; for e.g., Section 13(1)(c) provides that Sections 11/12 shall […]
In the May edition of our monthly newsletter “Legalaxy”, our team analyses some of the key developments in securities market, banking and finance, labour, environment and foreign direct investment. Below are the key highlights of the newsletter: SEBI UPDATES SEBI clarifies the role of compliance officers in listed entities: a structural update SEBI amends the […]
In terms of Regulation 4(g)(i) of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), the key investment team of the manager of an Alternative Investment Fund (“AIF”) is required to have at least 1 key personnel who shall obtain certification from the National Institute of Securities Market by passing […]
In a landmark judgment dated May 2, 2025, the Supreme Court of India annulled JSW Steel’s ₹19,700 crore acquisition of Bhushan Power and Steel Ltd. (BPSL), citing violations of the Insolvency and Bankruptcy Code (IBC). The Court ordered the liquidation of BPSL, emphasizing that the resolution plan failed to comply with mandatory provisions, including Section […]
