Newsletter - MMJC - Page 4

Introduction Regulation 37 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’) mandates every listed entity desirous of undertaking a scheme of arrangement or involved in a scheme of arrangement under sections 230–234 and section 66 of Companies Act, 2013 to file the draft scheme of arrangement with the designated stock exchange(s)

Introduction Going public is a major milestone for any company, often seen as a validation of its business model and a gateway to significant capital infusion. However, the path to a successful Initial Public Offering (IPO) is fraught with challenges, and many companies are not adequately prepared for the rigors of the public market. The

The Central Government in exercise of the powers conferred by clauses (aa) and (ab) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) (Hereinafter referred to as “FEMA 1999”) notified the Foreign Exchange Management (Non-debt instruments) Rules, 2019 [NDI Rules 2019] in supersession of the Foreign Exchange Management (Transfer or

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