The SEBI has released a consultation paper on the preferential issue guidelines prescribed under Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the “ICDR Regulations”), along with the recommendations discussed below.
Rukshad Davar, Partner & Head of Transactions Practice at Majmudar & Partners, has compiled an analysis on these changes.
Download .pdf India’s Ministry of Corporate Affairs (the “MCA”) has notified the Companies (Management and Administration) Second Amendment Rules, 2023 (the “Amendment Rules”), which amend Rule 9 of the Companies (Management and Administration) Rules, 2014 (the...
Download .pdf In the Bharti Hexacom case, India’s Supreme Court (the “SC”) has held that the variable licence fee that was paid annually by telecommunication companies (the “Taxpayers”) to the Department of Telecommunications (the “DoT”) under the New Telecom...
Download .pdf Recently, in the case of Vishal Chelani & Ors. v. Debashis Nanda (Civil Appeal No. 3806 of 2023), India’s Supreme Court (SC) ruled on the interface of the Insolvency and Bankruptcy Code, 2016 (IBC) with the Real Estate (Regulation and Development)...
Download .pdf Last month, the Reserve Bank of India (the “RBI”) released a draft Master Direction (the “Draft Direction”) proposing revisions to the Master Circular released in 2015 relating to wilful defaulters. The Draft Direction has broadened the definition...
By its notification dated September 25, 2023, the Central Board of Direct Taxes (CBDT) has amended Rule 11UA of the Income-tax Rules, 1962 which provides the manner of computing the fair market value of unlisted equity shares and compulsorily convertible preference shares under Section 56(2)(viib) of the Income-tax Act, 1961.
Download .pdf Generative Artificial Intelligence (“AI”) technologies, such as ChatGPT, are often celebrated as transformative forces across various sectors, and are often even perceived to challenge the necessity of human involvement in such sectors. Nevertheless,...