In its recent board meeting on June 27, 2024 (“Board Meeting“), the Securities and Exchange Board of India (“SEBI”) approved a number of proposals, including, in particular, approving Category I and Category II Alternate Investment Funds (“AIFs”) to borrow funds for up to 30 days in order to temporarily cover a deficit in investor drawdown …
SEBI Approves Borrowings for AIFS to Cover Deficit in Investor Drawdown Read More »
Background and Order By way of its order dated May 28, 2024, the Registrar of Companies (“RoC”) has imposed a penalty on India Containers Limited (“ICL”) and its directors for a total amount of approximately INR 3,00,000 on account of non-filing of annual return under Section 92 of the Companies Act, 2013 (“Act”). Under Section …
By way of its order dated May 22, 2024, the Registrar of Companies (“RoC”) has imposed a penalty on Microsoft Chief Satya Nadella and eight other executives for an amount of approximately INR 28 lacs on account of violating requirements related to beneficial interest and significant beneficial ownership under the Companies Act, 2013 (“Act”) in …
RoC fines Mr. Satya Nadella, Linkedin India and others for violating SBO norms Read More »
What is reverse vesting? For founders wanting to raise external capital, one of the critical clauses that they will time and again review and negotiate is a ‘vesting’ on their shares. What this essentially means is that the founder will need to remain employed with the company over a fixed period to get access to …
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