October 2016

Informal Guidance in the matter of Alembic Pharmaceuticals

SEBI, in an informal guidance dated October 17, 2016, allowed M/s Alembic Pharmaceuticals to reclassify its promoters without having to obtain shareholders’ approval. Under Regulation 31A(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, stock exchanges may allow modification/ reclassification of the status of the shareholders upon receipt of a request from the company…

SEBI proposes changes to Investment Advisers Regulations

SEBI notified the Investment Advisers Regulations in 2013, making it mandatory for entities providing investment advice for a consideration, to register under the Regulations. Regulation 4 grants exemption from registration to certain entities that provide investment advice to their clients, incidental to their primary activity. Despite such exemption, registered intermediaries are required to comply with…

SEBI simplifies InvIT norms

SEBI notified the Infrastructure Investment Trusts Regulations (InvIT Regulations) on September 26, 2014 for registration and regulation of InvITs in India. Subsequently, SEBI issued circular to allow investment by foreign portfolio investors and guidelines for public issue of units of InvITs. Pursuant to the feedback received from various market participants, SEBI, in its board meeting…

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