FPIs prohibited from executing Non-Disposal Undertakings

On March 14, 2018, SEBI issued an informal guidance to UBS AG (“Applicant”), a SEBI registered FPI, clarifying the position on whether non-disposal undertakings (“NDU’s”) constitute an ‘encumbrance’ under the SEBI (Foreign Portfolio Investors) Regulations, 2014 (“FPI Regulations”). Regulation 32(2)(d) of the FPI Regulations imposes an obligation on the designated depository participant engaged by an…

SEBI Board Meeting in March, 2018

SEBI has taken the following significant decisions in its board meeting held on 28 March 2018: Decision on recommendations of the Kotak Committee As a reaction to the reducing governance standards in listed companies and the heated board room battles, SEBI had formed a committee to re-look into the corporate governance norms in India under…

© Finsec Law Advisors | 2019
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