February, 2025 - MMJC

The Securities and Exchange Board of India (SEBI) released a comprehensive Industry Standards Note on Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations) to ensure uniformity and transparency in material disclosures by listed entities [ISF guidance]. Key Disclosure Guidelines under Regulation 30 provided by ISF guidance 1. Interpretation of

Background As countries around the world continue to explore the vast possibilities of space exploration and technology, the recent liberalization of Foreign Direct Investment (FDI) in the space sector marks a significant turning point in the industry. The extant FDI policy provides for FDI up to 100% only for satellite establishment and operation and that

Introduction SEBI, India’s market regulator, has put forward a proposal to broaden the definition of Qualified Institutional Buyers (QIBs) under the SEBI (ICDR) Regulations, 2018. This change would include Accredited Investors (AIs) for the sole purpose of investing in Angel Funds. The idea behind this move is to open up more investment opportunities for start-ups

Securities and Exchange Board of India (‘SEBI’) has issued a circular dated February 14, 2025, for Industry Standards on Minimum information to be provided for Review of the Audit Committee and Shareholders for Approval of a Related Party Transaction (RPT)’ (‘RPT Industry Standards’). SEBI Master circular dated 20 June 2023 on (i) Scheme of Arrangement

The Securities and Exchange Board of India (SEBI) has disseminated a consultation paper dated February 13, 2025, delineating proposed regulatory augmentations for ESG Rating Providers (ERPs)[1]. The draft circular, encapsulated in Annexure A, articulates pivotal modifications designed to fortify the operational integrity, transparency, and methodological robustness of ERPs. Rationale for SEBI’s Consultation Initiative ESG ratings

Revamping provisions of Annual Secretarial Compliance Report [‘ASCR’] Regulation 24A (2) of the LODR Regulations mandates listed entities to submit an Annual Secretarial Compliance Report [‘ASCR’] to stock exchanges within 60 days of the financial year-end. SEBI has now stated that given the regulatory developments during the last 2 years there is a need to

Securities and Exchange Board of India (‘SEBI’) has issued a circular dated February 14, 2025, for Industry Standards on ‘Minimum information to be provided for Review of the Audit Committee and Shareholders for Approval of a Related Party Transaction (RPT)’ (‘RPT Industry Standards’). The minimum information required to be placed before the audit committee and

Securities and Exchange Board of India (‘SEBI’) vide its notification dated February 3, 2025, released a consultation paper proposing a ‘Management statement and Auditor’s / Independent Practitioner’s report on digital assurance’ [‘Report on Digital Assurance’]. Why has SEBI floated consultation paper on Report of Digital Assurance? Regulation 33 of the SEBI (Listing Obligations and Disclosure

Securities and Exchange Board of India (‘SEBI’) vide its notification dt: February 7, 2025[1], released a consultation paper for extending automatic trading window closure facility to immediate relatives of designated persons. Following are key highlights of this consultation paper: Current Framework: SEBI Master Circular dt September 23, 2024, provides for automatic trading window closure for

Introduction The fund-raising sections under the Companies Act 2013 (‘the Act’) are crucial because they involve an investment of public funds in the company and, as a result, are concerned with public interest. This is probably why all the regulators are extremely cautious about the non-compliance of sections relating to fundraising. The caution exercised by