HS Law & Associates

linkedin.com/pulse/do-valua… on expiry dates for valuation reports

SEBI declined to respond to 2 queries relating to pro-rata vs flexible exits to investors, and changes to minimum capital commitments upon transfer of investor units, citing policy concerns. Link: sebi.gov.in/sebi_data/comm…

4. A trust cannot be an angel investor in an angel fund unless it is registered as an AIF under the AIF Regulations or a Venture Capital Fund under SEBI (Venture Capital Funds) Regulations, 1996.

Through a recent informal guidance, SEBI has provided certain clarity on inter alia the regulatory horizon for angel fund investments. The points have been summarized below:

#SEBI #TakeoverRegulations #MergersAndAcquisitions #Compliance #OnlineFiling 📢Read the official circular here: sebi.gov.in/legal/circular…

· Fee payments must also be made through the SI Portal, replacing the previous SEBI payment module; · Reports for other exemptions under Reg 10 will continue via email

SEBI introduces Online Filing for Regulation 10(7) Reports To ease and streamline operations, SEBI has initiated the e-filing option via the SI portal, for reports to be submitted for certain exemptions per Reg 10(7) of the SEBI (SAST) Regulations, 2011 Takeover Regulations, 2011

Why SEBI Granted an Exemption? Under Reg. 10(1)(a)(ii)& Reg. 11(5), SEBI can waive an open offer requirement for promoters fulfilling certain conditions. Here, the nature of the transaction is of a family succession arrangement.

Inter-se Promoter Transfer: Mr.Galla increased his stake in a promoter entity (RFPL) from 43.20% to 99.53% through gifts from family members. Family succession arrangement: He transferred 99.53% of RFPL’s shares to four family trusts, keeping control within the promoter family.

DYK: not every acquisition triggers an open offer While Reg 3 & 4 of SEBI’s SAST Regulations (2011) mandate an open offer when an acquirer crosses 25% voting rights or gains control of a listed co., SEBI exempts certain types of transactions.

does penalty serve as a lesson learnt? Timely compliance with corp. regulations isn’t just a box to check - it ensure fairness, transparency, and protect co.s integrity. The listed co.s costly mistake should serve as a reminder to stay vigilant and follow the law to avoid penalty

in fact, in an article for @Ideas4India the authors had advocated for having networked women on the board of co.s substantiating this with empirical evidence, and the mitigating effect on agency costs (ideasforindia.in/topics/social-…

It’s a quarter of a century done and co.s continue to be penalized for failure to appoint a woman director on their board. Fresh off in the new year, RoC Mumbai had to levy a penalty on a listed co. for the delay in filling an intermittent vacancy