Page 14 – Vaish Associates Advocates

Restructuring Through Fast Track Mergers – Practical Considerations

The National Company Law Tribunal (NCLT) driven merger process, being a cumbersome and time consuming process involved in the implementation of a merger scheme, poses certain inherent challenges to the overall timeline in the completion of the merger process. Therefore with the advent of the Companies Act, 2013, the idea of fast-track mergers was conceptualized in order to have a simpler and a faster alternative process for certain categories of mergers by doing away with courts/tribunals approvals as it requires the approval of only jurisdictional Regional Directors.

In the said context, Mr. Yatin Narang (Partner) has authored an article titled ‘Restructuring Through Fast Track Mergers – Practical Considerations’ wherein Mr. Yatin Narang has discussed the legislative framework surrounding the fast-track mergers and the practical issues which arise while undertaking a fast-track merger scheme which can be accessed below.

This article was originally published in The Indian Business Law Review, Volume 2, Issue 3, ISSN: 2583-8148 (available at https://iblronline.com/elementor-903/)

The author of the article is:

Mr. Yatin Narang
Partner
[email protected]

TaxBuzz | Delhi High Court clarifies the law relating to eligibility of 10A deduction and lays down important guidelines for Transfer Pricing benchmarking

We are pleased to share with you a copy of our in-house publication – “TaxBuzz”, wherein we have analysed the recent ruling of the Delhi High Court in the case of Birlasoft Ltd. 2024: DHC: 9318-DB, wherein, the High Court has clarified the law relating to eligibility of 10A deduction and laid down important guidelines for Transfer Pricing benchmarking.

We trust that you will find our TaxBuzz useful and look forward to receiving your valuable feedback.

For any further information/ clarification, please feel free to write to:

Mr. Neeraj K Jain
Senior Partner
[email protected]

Mr. Aniket D. Agrawal
Associate Partner
[email protected]

Mr. Abhisek Singhvi
Associate
[email protected]

Customs and GST Alert – December 2024

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 write to:

Mr. Shammi Kapoor
Senior Partner
[email protected]

Mr. Arnab Roy
Associate Partner
[email protected]

Customs and GST Alert – Vol. 1 – Issue 12 – November 2024

We are pleased to share with you the link to 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 Kapoor
Senior Partner
[email protected]

Mr. Arnab Roy
Associate Partner
[email protected]

SEBI (Alternative Investment Funds) (Fifth Amendment) Regulations, 2024 – Notified

Securities and Exchange Board of India (“SEBI”), vide its notification dated November 18, 2024, has notified the SEBI (Alternative Investment Funds) (Fifth Amendment) Regulations, 2024 (“AIF Amendment Regulations”), thereby amending SEBI (Alternative Investment Funds) Regulations, 2012.

The key amendments are:

Pro rata right to investors – The investors of a scheme of an Alternative Investment Fund (“AIF”) shall have rights, pro-rata to their commitment to the scheme, in each investment of the scheme and in the distribution of proceeds of such investment, except as may be specified by SEBI from time to time. However, the rights of the investors of schemes of AIF issued prior to the notification of AIF Amendment Regulations which are not pro-rata to their commitment to the scheme and not exempted by SEBI, shall be dealt with in the manner specified by SEBI. However, this shall not apply to angel funds.
Differential rights to investors – The rights of investors of a scheme of an AIF shall be pari passu in all aspects other than the rights of the investors which are pro rata to their commitment to the scheme of AIF. SEBI has exempted Large Value Fund for Accredited Investors in this regard.
However, differential rights may be offered to select investors of a scheme of an AIF, without affecting the interest of other investors of the scheme, in the manner as may be specified by SEBI.

Further, any differential right already issued by an AIF prior to the notification of AIF Amendment Regulations, shall be dealt with in the manner as specified by SEBI.

To read the AIF Amendment Regulations click here

For any clarification, please write to:

Mr. Yatin Narang
Partner
[email protected]

Legalaxy | Monthly Newsletter Series – Vol XVIII – November, 2024

In the November edition of our monthly newsletter “Legalaxy”, our team analyses some of the key developments in securities market, banking and finance, corporate affairs, labour and employment, environment and consumer affairs.

Below are the key highlights of the newsletter:

SEBI UPDATES

SEBI notifies specific due diligence requirements of investors and investments of AIFs
SEBI notifies liquidity window facility for the listed debt securities
Extension of relaxation under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
SEBI modifies compliance and reporting requirement for non-individual investment advisers

RBI & IFSC UPDATES

RBI revises guidelines regarding submission of information to credit information companies by ARCs
Implementation of credit information reporting mechanism subsequent to cancellation of licence or certificate of registration
RBI issues guidelines for compounding of contraventions under FEMA
RBI issues notification for due diligence in relation to non-resident guarantees availed by residents
IFSCA issues directions for operations of the foreign currency accounts of Indian resident individuals opened under the liberalised remittance scheme
IFSCA (Payment and Settlement Systems) Regulations – Notified

OTHER UPDATES

Advertisers required to refrain from engaging in greenwashing and misleading environmental claims
Exemption to IT and ITES establishments in Uttar Pradesh
MCA clarifies the applicability of the e-adjudication rules to pending proceedings
Biological Diversity Rules, 2024 – Notified

We hope you like our publication. We look forward to your suggestions.

Please feel free to contact us at [email protected]