[The following post is contributed by Shriya Jain, Fourth year student & Param Pandya, Fifth year student of Gujarat National Law University, Gandhinagar, Gujarat. The authors can be contacted at [email protected] & [email protected] respectively]. A government company is defined under section 2(45) of the Companies Act, 2013 (‘2013 Act‘) as a company in which not...
Subordinated debentures – A Capital Supporting Instrument
[The following guest post is contributed by Vinita Nair of Vinod Kothari & Co. The author may be contacted at [email protected]] Non Banking Financial Companies (NBFCs) in India are always seeking sources of raising funds. Capital is costly and therefore NBFCs rely more on public funds. Public funds as defined under the Systemically Important Non-Banking Financial (Non-Deposit Accepting...
SEBI’s Action on Illegal Collective Investment Schemes
[The following guest post is contributed by Pavit Singh Kochar, a legal associate (corporate) with KNM & Partners Law Offices, New Delhi] The Securities and Exchange Board of India (SEBI), the Indian market regulator has been taking significant steps over the last couple of years by protecting the interests of retail investors due to their inability to take a well-informed decision about...
Supreme Court on SEBI’s Jurisdiction Over GDRs
The Supreme Court in Securities and Exchange Board of India v. Pan Asia Advisors Ltd. clarified that the jurisdiction of the Securities and Exchange Board of India (SEBI) extends to the issuance of global depository receipts (GDRs) by Indian companies to foreign investors, and also to ensnare lead managers to such issuances if they have an adverse impact on the Indian securities markets. Although...
Metal to Paper: India’s Sovereign Gold Bonds
[The following guest post is contributed by Rishi A, a fourth year student of Hidayatullah National Law University] The Government of India recently released a concept paper on Sovereign Gold Bonds. It has been proposed that these bonds would carry a fixed rate of interest of around 1.5-2%, which can be further raised by individual banks, and will be redeemable at the price of gold at the time of...
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