Search results: Listing Obligations and Disclosure Requirements

During recent discussions with book running lead managers and other advisers, the Securities and Exchange Board of India (SEBI) indicated that, in an initial public offering of equity shares (IPO), it would categorise founders...

The Securities and Exchange Board of India (SEBI) has announced governance norms for real estate investment trusts (REITs) and infrastructure investment trusts (InvITs), in line with those for listed companies. It follows the board’s...

The Securities and Exchange Board of India (SEBI) has always kept a watchful eye on the proliferation of fintech entities everywhere in the consumer-facing side of the financial sector. In July 2022, the SEBI...

The Securities and Exchange Board of India (SEBI) has sought public comment on changing the disclosure requirements as applicable to listed companies. Among the major changes proposed is a tightened timeline, ranging from 30...

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The NSE scandal comprising a mysterious Himalayan yogi, a 'group operating officer' who had never worked in the securities market, and a board that looked the other way shows that it takes only a...

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The markets regulator has begun a process to move away from the broad concept of promoter to controlling shareholders in order to better identify who’s in charge. Shivanand Pandit reports Paving the way for a...

The improvement of corporate governance norms of banks has been on the agenda for many years. However, after egregious irregularities and misconduct at the highest levels were found at some well-known banks and non-banking...

Since the Supreme Court overturned India's ban on cryptocurrencies, trading volumes have increased exponentially and home-grown crypto startups have blossomed. But the government has yet to establish a regulatory regime, and reports of another...

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In November 2020, the Securities and Exchange Board of India (SEBI) issued a circular on due diligence to be carried out by debenture trustees on security for listed debentures. The circular prescribed additional obligations...

With the aim of improving protection and transparency for investors in debt markets, the Securities and Exchange Board of India (SEBI) by its circulars of 8 October 2020 significantly amended the SEBI (Debenture Trustees)...

The Securities and Exchange Board of India (SEBI) recently introduced a series of changes to protect investors in listed issuance debt securities. The precursor to these changes was a little noticed amendment to the...

Taking stock of the relief measures deployed by regulators to soften the impact of the lockdown. Gautam Kagalwala reports With the COVID-19 outbreak, the government has been fighting on two fronts. It has introduced a...

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Total and Adani have signed definitive agreements to deepen their partnership to supply and market natural gas in India. Total will acquire a 37.4% stake in Adani Gas for ₹61 billion (US$864 million). The...

The role of an independent director is an unenviable one, argues Nitin Mittal To be, or not to be, that is the dilemma a number of independent directors are grappling with these days. In the Punjab...

Ensuring compliance with amended insider trading regulations. By Ashwinee Oturkar At the turn of the year, the Securities and Exchange Board of India (SEBI) notified amendments to the country’s insider trading regulations, bringing about some...

The role of independent directors has recently come into sharp focus in India, as lax oversight has led to crises at large listed companies. Independent directors should be aware of and mitigate potential liabilities. Liabilities Directors...

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The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (PITR), prohibits communication of unpublished price sensitive information (UPSI) to any person except where it is in furtherance of legitimate purposes,...

The Ministry of Corporate Affairs (MCA) on 5 November 2018 called for public comments on a slew of proposed amendments to the Companies Act, 2013, with a view to strengthen the corporate governance framework...

The Securities and Exchange Board of India (SEBI) issued a press release on 10 August that provides clarifications with respect to amendments to regulation 40 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,...

The Securities and Exchange Board of India (SEBI) has introduced guidelines for listed infrastructure investment trusts (InvITs) registered under the SEBI (Infrastructure Investment Trusts) Regulations, 2014, allowing institutional investors to raise capital by way...

The Securities and Exchange Board of India (SEBI) issued a notification on 13 April providing guidelines for issuance of debt securities by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). On 15...

Listed companies undertaking schemes for compromises and arrangements have to comply with conditions prescribed by the Securities and Exchange Board of India (SEBI). The framework for this is set out in a circular issued...

Food delivery app Zomato has received an investment of US$200 million from Alibaba’s affiliate Ant Small and Micro Financial Services Group (Ant). Info Edge (India), which operates the job website Naukri and a key investor...

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IPOs have returned with a bang, but are they a true indicator of an improved economy? Gautam Kagalwala looks at the reasons for the revival of primary markets and the role of the regulator The...

Private equity and other investors (strategic or otherwise), while making minority investments in a listed company (listco), have to navigate a myriad of regulations including the Securities and Exchange Board of India (Listing Obligations...

Quis custodiet ipsos custodes? (Who will guard the guardians?) – Juvenal Since the introduction of clause 49 in the Listing Agreement more than a decade ago, the Securities and Exchange Board of India (SEBI) has...

With effect from 15 February, listed entities are exempt from filing a draft scheme of arrangement in the case of a merger between a holding company and its wholly owned subsidiary in order to...

Upside sharing agreements (otherwise referred to as compensation agreements) are arrangements which are sometimes entered between an investor (usually a private equity investor) and the promoters and/or management of a listed company with an...

The Securities and Exchange Board of India (SEBI), in its meeting on 14 January, proposed revisions to the regulatory framework governing the merger of an unlisted company with a listed company. The existing regime comprises (a)...

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In India, a promoter is generally understood as a person in control of a company. A change in the promoter of a listed company is perceived as sufficiently significant to affect the company’s share...

The Bombay Stock Exchange and the National Stock Exchange of India are gearing up for their own listings but they still face legal and regulatory hurdles. Nandini Lakshman reports For quite some time, the highly profitable stock exchanges...

The Securities and Exchange Board of India (SEBI) has amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016. The amendment has...

Last year, the Securities and Exchange Board of India (SEBI) notified the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Since then, SEBI has published multiple frequently asked questions (FAQs) to facilitate the listing process...

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As India’s equity markets stir, Nandini Lakshman investigates some of the recent deals, reveals the law firms that guided them and asks what’s in store for cash-hungry companies It has been a modest but eventful...

New listing regulations are a step in the right direction. Priyanka Kumar and Sohrab Khushrushahi explain why The Securities and Exchange Board of India (SEBI) notified the Securities and Exchange Board of India (Listing Obligations...

The Securities and Exchange Board of India (SEBI) notified the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on 2 September. The regulations are designed to consolidate all post-listing requirements applicable to entities that...

On 2 September, SEBI published the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which come into effect on 1 December 2015. Two provisions, however, came into force with immediate effect. They are: Passing...

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India Business Law Journal identifies and analyses the standout deals and disputes of 2013 and reveals the lawyers who guided them. By Nandini Lakshman The past year was one of the worst for the Indian economy...

India’s securities regulator, the Securities and Exchange Board of India (SEBI), recently released the draft SEBI (Real Estate Investment Trusts) Regulations, 2013. Some of the key features are captured below. Investment Restrictions: Real estate investment...

The US is fertile ground for Indian companies hungry to sow new seeds of investment. But without adequate knowledge, preparation and legal guidance, they could rake in more regrets than rewards Aliyah Shahid reports from...

Until recently, only two categories of non-resident investors, namely, (i) foreign institutional investors (FIIs) and their sub-accounts registered with the Securities and Exchange Board of India (SEBI), and (ii) non-resident Indians (NRIs), were permitted...

India Business Law Journal celebrates 50 of the most significant transactions and cases of 2011 and reveals the law firms that guided them to fruition Nandini Lakshman reports from Mumbai The global financial crisis may have...

The imminent introduction of India’s new takeover code presents an opportunity for regulatory arbitrage Cyril Shroff and Amita Choudary report The acquisition of shares of a listed company in India is currently governed by the Securities...

A great deal has been written about corporate governance in India since the turn of the millennium, when the nation’s economy was gaining prominence on the world stage. It became a buzzword in boardrooms...

Market turbulence has forced many Indian corporates to re-evaluate their domestic and international capital-raising strategies. But in spite of the difficulties, there is no shortage of investors willing to gamble on India, Chris Crowe reports...