SEBI: Infrastructure Investments and Portfolio Investments

Infrastructure Investment Trusts
Last last year, we
had discussed
the SEBI Consultation Paper on Infrastructure Investment Trusts. While the move
towards the establishment of infrastucture investment trusts (InvITs) was
welcome, certain issues such as tax treatment remained to be ironed out. Now
that the tax treatment has been addressed in the Budget 2014, SEBI has
published a draft
of the SEBI (Infrastructure Investment Trusts) Regulations, 2014
for public
comments. Only a short window of 7 days was available for comments, which
expired on July 24, 2014. For a more detailed discussion of the implications of
this draft as well as a comparative analysis, see The
Firm – Corporate Law in India
.
Foreign Portfolio Investors
The legal regime
surrounding foreign institutional/portfolio has undergone a change with the
enactment of the SEBI (Foreign Portfolio Investors) Regulations, 2014. In this
regard, SEBI has issued a detailed set of Frequently
Asked Questions (FAQs)
which deal extensively with the legal and operational
aspects for foreign portfolio investors (FPIs). This is particularly useful for
industry players as well as the regulators in the implementation of the new regime,
and makes the process entirely transparent.

About the author

Umakanth Varottil

Umakanth Varottil is an Associate Professor at the Faculty of Law, National University of Singapore. He specializes in corporate law and governance, mergers and acquisitions and cross-border investments. Prior to his foray into academia, Umakanth was a partner at a pre-eminent law firm in India.

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