SEBI clarifies shareholding transfer rules for investment advisers and analysts, ET LegalWorld
Highlights The Securities and Exchange Board of India has clarified that transfers of shareholding among immediate relatives will not constitute a change in control, aiding operational continuity for investment advisers, research analysts, and KYC registration agencies. For proprietary firms, the transfer of business or capital via transmission is considered a change in control, necessitating a […]
Sebi clarifies rules on change in control for investment advisers, research analysts, KRAs, ET LegalWorld
Markets watchdog Sebi on Friday clarified the rules for transfer and transmission of shareholding among immediate relatives for investment advisers, research analysts, and know your client (KYC) registration agencies (KRAs). The move aims to streamline regulatory compliance and protect investor interests while ensuring transparency in the functioning of these intermediaries. With regards to transfer among […]
GST Council clarifies on popcorn taxation, Legal News, ET LegalWorld
Nirmala Sitharaman chairs 55th GST Council meeting in Jaisalmer GST Council on Saturday agreed to issue a clarification on taxation of popcorn, saying that pre-packed and labelled ready-to-eat snacks will attract a 12 per cent tax while an 18 per cent GST will be levied if it is caramelised. There is no change in the […]
NCLAT ruling clarifies section 10A applicability in corporate debt cases, ET LegalWorld
Highlights The National Company Law Appellate Tribunal has ruled that a party cannot be barred under Section 10A from filing proceedings under Section 7 if the liability to pay interest arose before the Section 10A period and continues during and after it. The Appellate Tribunal determined that the date of default, ascertained through the National […]
NCLAT ruling clarifies section 10A applicability in corporate debt cases, ET LegalWorld
Highlights The National Company Law Appellate Tribunal has ruled that a party cannot be barred under Section 10A from filing proceedings under Section 7 if the liability to pay interest arose before the Section 10A period and continues during and after it. The Appellate Tribunal determined that the date of default, ascertained through the National […]
No RERA registration unless a property meets this eligibility in Maharashtra, clarifies MahaRERA, ET LegalWorld
The Maharashtra Real Estate Regulatory Authority (RERA) has issued an order clarifying the conditions for real estate projects to be eligible for RERA registration in the state. This new circular clarifies exactly which projects are eligible to be registered with RERA and also provides a clarification regarding the commencement certificate and the completion certificate within […]
Sebi clarifies on advertisement code for research analysts, Legal News, ET LegalWorld
Markets regulator Sebi on Thursday clarified that research reports and recommendations of research analysts (RAs) are not considered advertisements unless anything contained in such reports is in the nature of promotion of products or services offered by them. This came after the Securities and Exchange Board of India (Sebi) received certain queries concerning the applicability […]
Delhi High Court clarifies Scope of “patent illegality” in Arbitration; upholds limited grounds for challenging awards, ET LegalWorld
The Delhi High Court has held that the ground of “patent illegality” is applied when there is a contravention of the substantive law of India, the Arbitration Act, or the rules applicable to the substance of the dispute. Thus, the term “patent illegality” does not apply to legal violations that are unrelated to matters of […]
Sebi clarifies on 3-in-1 accounts usage for public issue applications, ET LegalWorld
Markets regulator Sebi on Friday clarified that investors can continue using 3-in-1 accounts to apply online for public issues of debt securities, non-convertible redeemable preference shares, municipal debt securities, and securitised debt instruments. This is in addition to the existing modes of application, Sebi said in a circular. A three-in-one trading account combines a savings […]
NCDRC clarifies product liability law for vehicle safety, Legal News, ET LegalWorld
On September 20, The National Consumer Disputes Redressal Commission (NCDRC) provided crucial clarifications on Indian product liability law, particularly with respect to vehicle safety mechanisms like airbags and seatbelts. Emphasizing that any allegation of a manufacturing defect must be supported by substantial evidence established through any expert opinion as required under section 13(1)(c) of the […]