The Indian Landscape of Insider Trading Understanding Regulations, Managing Risks, and Upholding Ethical Governance for Board Members
Insider trading refers to the practice of trading a company’s securities based on Unpublished Price Sensitive Information (“UPSI”),
M&A AND PE IMPACT DUE TO THE CHANGES TO INDIA’S COMPETITION LAW REGIME
The Competition (Amendment) Act, 2023 (the “2023 Amendment”) was introduced on April 11, 2023, to amend the Competition Act, 2002 (the “Act”) and, inter alia, establish a new threshold for assessing transactions, known as the Deal Value Threshold (the “DV Threshold”). On September 10, 2024 (the “Effective Date”), India’s Ministry of Corporate Affairs (the “MCA”) …
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CROSS-BORDER SHARE SWAPS MADE EASIER THROUGH AMENDMENTS TO INDIA’S FOREIGN EXCHANGE REGULATIONS
The Indian government has recently notified the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (the “Amendment Rules”) to amend the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (the “NDI Rules”). This update delves into some important changes on share swaps and clarifications introduced by the Amendment Rules. Key changes (i) Equity swaps by …
CROSS-BORDER SHARE SWAPS MADE EASIER THROUGH AMENDMENTS TO INDIA’S FOREIGN EXCHANGE REGULATIONS
The Indian government has recently notified the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (the “Amendment Rules”) to amend the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (the “NDI Rules”).
Impact of India’s General Anti-avoidance Rules on Transactions
Overview In the Ayodhya Rami Reddy Alla (the “Taxpayer”) case, the Telangana High Court (the “THC”) held that,
THE UNIFORM CODE FOR PHARMACEUTICAL MARKETING PRACTICES, 2024 — IMPACT ON INDIA’S PHARMA INDUSTRY
The Department of Pharmaceuticals (the “DoP”) recently notified the Uniform Code for Pharmaceutical Marketing Practices 2024 (“UCPMP 2024”), in supersession of the UCPMP issued in 2014 (“UCPMP 2014”).
RBI proposes a revamp on the framework applicable to wilful defaulters
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.
Annexure
The TRAI Recommendations propose a comprehensive framework for the regulation of AI in India. Its salient features are listed below.
Artificial Intelligence and Big Data regulation: Analyzing India’s emerging regulatory framework
The Telecom Regulatory Authority of India (the “TRAI”) has recently released recommendations on “Leveraging Artificial Intelligence and Big Data in the Telecommunication Sector” and has suggested that the Indian government must adopt a regulatory framework for AI that applies across sectors.
SEBI allows LPs to choose the AIF investments they want to participate in
In a circular issued last month (the “Circular”), the Securities and Exchange Board of India (the “SEBI”) has allowed specific investors to excuse or exclude themselves from any particular investment being made by an alternative investment funds (“AIF”) in which they have invested.