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Highlights of PMLA (Maintenance of Record) 3rd Amendment Rules, 2023 & Impact on VDASPs

Highlights of PMLA (Maintenance of Record) 3rd Amendment Rules, 2023 & Impact on VDASPs

/ Compliance, Data Privacy /

Key Highlights Of Prevention Of Money Laundering (Maintenance Of Record) Third Amendment Rules, 2023 And The Impact On Vdasps The Ministry of Finance on October 17, 2023 notified the Prevention of Money Laundering (Maintenance of Record) Third Amendment Rules, 2023 (“Amendment”) to amend the  Money  Laundering  (Maintenance of  Record)  2005  (“PMLA  Rules”). Following are some […]

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Breaking Down the Amendments to RBI’s Master Direction on KYC

Breaking Down the Amendments to RBI’s Master Direction on KYC

/ Compliance, Data Privacy /

The Reserve Bank of India (RBI), through its a circular dated: October 17, 2023, amended the Master Direction on Know Your Customer (KYC) (“Master Directions”) to impose stricter Customer Due Diligence (“CDD”) guidelines, instructing regulated entities (which, inter alia, includes NBFCs, scheduled commercial banks, payment system providers, prepaid payment instruments etc.) (“RE”) to adopt a

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RBI Notifies Directions for Regulation of Payment Aggregators – Cross-Border

RBI Notifies Directions for Regulation of Payment Aggregators – Cross-Border

/ Compliance, Data Privacy /

Delineating The Difference Between A Payment Aggregator – Cross Border And An Online Payment Gateway Service Provider On October 31, 2023, the Reserve Bank of India (RBI) through its circular named Regulation of Payment Aggregator – Cross Border; (the Regulations), has brought all entities involved in facilitating cross-border payments for the import and export of

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treatment of convertable notes as financial debt under ibc

Treatment of Convertable Notes as Financial Debt Under IBC

/ Funds, Investments /

Possible Treatment Of Convertible Notes As Financial Debt Under IBC Similar to Compulsorily Convertible Debentures (“CCDs”), Convertible Notes (“CNs”) are hybrid instruments that combine elements of debt and equity. However, unlike CCDs, CNs are defined under the Companies Act, 2013. Rule 2 of the Companies (Acceptance of Deposits)  Rules,  2014  (Deposit  Rules),  defines  CNs as

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Online Rummy and Poker Regarded as Games of Skill: Madras High Court Ruling

/ Gaming and Sports /

Case Analysis: All India Gaming Federation and Ors. vs State of Tamil Nadu Recently, the Madras High Court (“Court”) on November 9, 2023, in the case of All India Gaming Federation vs. the State of Tamil Nadu, while upholding the validity of the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act,

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new mandatory dematerialization norms for private companies

New Mandatory Dematerialization Norms for Private Companies

/ Corporate Secretarial /

In a significant move aimed at enhancing corporate governance practice among Indian companies, the Ministry of Corporate Affairs on October  27, 2023  notified an amendment to the Companies (Prospectus and Allotment of Securities) Rules, 2014, and has subjected private companies to norms of mandatory dematerialization of shares. Following are the key aspects of the amendment:

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denial of gender neutral sexual harassment policy supreme court

Denial of gender neutral Sexual Harassment Policy: Supreme court

/ Labour and Employment /

Binu Tamta & Anr. Vs. High Court Of Delhi & Ors. The Supreme Court of India through an order passed in the case of ‘Binu Tamta & Anr. Vs. High Court of Delhi & Ors, W.P.(C) No. 162/201’, rejected the petition to make the sexual harassment policy gender-agnostic. The plea sought to supplant references to

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Scrutinising CCDs through the lens of IBC: Has the Supreme Court ended the debate?

Scrutinising CCDs through the lens of IBC: Has the Supreme Court ended the debate?

/ Insolvency and Bankruptcy /

Introduction  Recently, in a landmark judgment, the Supreme Court of India (the “SC”), via its order dated: November 09, 2023 in the case of IFCI Limited vs Sutanu Sinha and Ors, while upholding the order of National Company Law Appellate Tribunal (“NCLAT”) held that Compulsorily Convertible Debentures (“CCDs”) should be treated as equity under Insolvency and Bankruptcy

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Sebi To Regulate Fractional Ownership Platforms

Sebi To Regulate Fractional Ownership Platforms

/ Corporate Secretarial /

Investment in real estate is often capital intensive which requires considerable market knowledge. Not every investor has the appetite or knowledge for such an investment. Furthermore, the past decade has shown considerable growth and returns in the commercial real estate market with people investing in real estate other than owning their home. This trend has

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unraveling the flipping phenomenon among indian startups

Unraveling The ‘flipping’ Phenomenon Among Indian Startups

/ Corporate and Commercial, Investments, Start-Ups /

Introduction  In the evolving landscape of Indian entrepreneurship, the phenomenon of Indian startups ‘flipping’ into foreign jurisdictions has emerged as a strategic maneuver, capturing the attention of founders, investors and industry observers. This trend, marked by the relocation of startup headquarters to international destinations such as US and Singapore, brings forth a myriad of implications

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