Sebi plans pre-listing trading for IPOs. Will this wipe out grey market activity?, ET LegalWorld
Capital markets regulator Sebi is planning to introduce a mechanism where, after an IPO, shares can be traded in the three days between allotment and listing. This is aimed at reducing the activity in the grey market, which is largely unregulated and has a significant influence on listings. However, experts say a majority of the […]
Sebi plans hiking threshold to Rs 50,000 cr for making granular disclosures, ET LegalWorld
Sebi on Friday proposed doubling the threshold amount to Rs 50,000 crore for foreign portfolio investors to make granular disclosures about their investors holding any ownership or economic interest. At present, certain foreign portfolio investors (FPIs) with equity assets under management (AUM) exceeding Rs 25,000 crore are required to provide granular details of all their […]
Reliance Infrastructure faces ₹494 cr arbitral award; Plans appeal, ET LegalWorld
Reliance Infrastructure Limited has received an arbitral award passed by a arbitral tribunal in the matter of arbitration between Aravali Power Company Private Limited and RIL in relation to a EPC Contract on December 18, 2024. A three-member arbitral tribunal by a 2:1 majority held in favour of APCPL. The Award against the Company is […]
IBBI proposes mandatory monitoring committees for resolution plans, ET LegalWorld
The Insolvency and Bankruptcy Board of India (IBBI) has proposed monitoring committees for implementing resolution plans under the Insolvency and Bankruptcy Code (IBC) rules. These changes seek to address challenges in implementing resolution plans and bolster confidence in the insolvency resolution process. The move came after a Supreme Court judgement emphasising statutory recognition for such […]
Can CoC liquidate before considering Resolution Plans? NCLAT rules, ET LegalWorld
The National Company Law Appellate Tribunal has held that the legislative fiat of Section 33(2) of the Insolvency and Bankruptcy Code, 2016, read with the explanation clause, empowers the Committee of Creditors to decide to initiate liquidation even before inviting resolution plans i.e., the power given to the CoC to take decisions for liquidation is […]
Govt plans amendments to law, proposes dedicated commercial courts at district level, ET LegalWorld
The Union law ministry has floated a draft Bill to amend the Commercial Courts Act which, among other things, proposes setting up of “dedicated” commercial courts at the district level. Seeking views of the public on the proposed amendments, the department of legal affairs in the law ministry has said that the aim is to […]
Zydus Wellness faces ₹3.09 million tax demand for FY 2014-15, plans appeal, ET LegalWorld
Zydus Wellness Products Limited has received an Assessment Order from the Excise and Taxation Officer-cum-Notified Authority, U.T., Chandigarh, under Section 29(2) of The Punjab VAT Act, 2005, and The CST Act, 1956, alleging a demand of ₹0.31 million towards VAT (including a penalty of ₹0.16 million) and ₹2.78 million towards CST, aggregating to ₹3.09 million […]
RBI plans to revamp currency management infrastructure to cater to future cash needs, ET LegalWorld
The Reserve Bank plans to comprehensively revamp its currency management infrastructure over the next 4-5 years, mainly to ensure adequate storage and handling capacity to cater to the future cash needs of the growing economy. The creation of greenfield currency management centres, the introduction of warehouse automation, the installation of security and surveillance systems, an […]