Tag: SEBI
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Information Asymmetry Arising From a Confidential DRHP Filing: A Source of Prejudice to Retail Investors
[Advait Arunav is a 4th year B.A., LL.B. (Hons.) student at National Law University, Delhi and Myra Khanna is a 5thyear B.A., LL.B. (Hons.) student at Maharashtra National Law University, Mumbai] In November 2022, the Securities and Exchange Board of India (SEBI) introduced an optional confidential pre-filing mechanism by amending the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and inserting Chapter…
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The Illiquidity Trap: Why India’s AIF Framework Must Build a Secondary Market
[Ayushi Singh is a 3rd Year B.B.A. LL.B. (Hons.) student at Gujarat National Law University, Gandhinagar] India’s alternative investment fund (AIF) industry has enjoyed considerable success. Total AIF commitments reached ₹15.74 trillion by December 2025, growing at nearly 30% each year over the past five years. More than 1,700 AIFs are now registered with the Securities and Exchange Board of India…
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Reading SEBI’s Buyback Reversal: Tax Fix, Not Change of Heart
[Ishika Gupta is a 3rd year B.A. LL.B. (Hons.) student at NALSAR University of Law, Hyderabad] On 1 April 2025, the Securities and Exchange Board of India (“SEBI”) extinguished the open market buyback route through stock exchanges, completing a phase-out it had set in motion at the end of 2022. Sixteen months later, on 1 August…
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Rain Derivatives in India: Financial, Insurance, or Climate-Risk Instrument?
[Akanksha Dutta is an Associate at IC RegFin Legal Partners LLP] On May 29, 2026, the National Commodity and Derivatives Exchange (NCDEX) launched ‘RAINMUMBAI’, which is India’s first exchange-traded weather derivative contract. It is structured as a cash-settled futures instrument whose settlement is determined by observed rainfall data rather than physical loss assessment. It is built…
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The Gig Equity Paradox: ESOPs for Platform Workers
[Jayavardhini S is a third year B.A., LL.B. (Hons.) student at National University of Advanced Legal Studies, Kochi.] India’s gig workforce is expanding so rapidly that it is projected to encompass roughly 23.5 million individuals or roughly 4.1% of all livelihoods in India by the year 2030. This is the booming reality of India’s rapidly expanding platform economy that…
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SEBI’s Regulation of the Carbon Market
[Ashwin Murthy is the Negative Emissions Fellow at Sabin Center for Climate Change Law at the Columbia Climate School, Columbia University, New York. This post is part of the IndiaCorpLaw Blog Symposium on ‘Corporate Law and Climate Change: Indian and Comparative Perspectives’.] The climate crisis necessitates immediate action. The IPCC has made it clear that addressing climate change…
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From Paris to the Boardroom: Can Voluntary Corporate Climate Governance Deliver India’s NDCs?
[Raushan Tara Jaswal is an Assistant Professor and PhD Candidate, Jindal Global Law School, O.P. Jindal Global University, Sonepat, Haryana and Post-Doctoral Researcher, Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU), Germany. This post is part of the IndiaCorpLaw Blog Symposium on ‘Corporate Law and Climate Change: Indian and Comparative Perspectives’.] The highly contentious adoption of the Paris Agreement has been a…
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Rajesh Exports Case: Reassessing SEBI’s Jurisdiction Over Statutory Auditors
[Pakhi Jain is an Advocate practising in the areas of corporate law and financial regulatory matters] The interim ex-parte order passed by the Securities and Exchange Board of India (“SEBI“) in the matter of Rajesh Exports Limited (“REL Interim Order“) will be remembered not merely for the magnitude of REL’s alleged financial misstatements, but for the vexed regulatory…
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SEBI’s 2026 InvIT Amendments: Fixed in Regulation, Broken in Documentation
[Prakhar Suryawanshi is an Associate with the Projects, Energy & Corporate Law team at AZB & Partners] An infrastructure investment trust (InvIT) is a SEBI-regulated pooled vehicle that channels capital into operating infrastructure assets through a layered structure: trust, holding company, and project-specific special purpose vehicles (SPVs). Each SPV holds a single government-awarded concession – a…
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Disgorgement Under Section 11B of the SEBI Act: When Legitimate and Manipulative Trading Coexist
[Hardik is a graduate of the National Law School of India University, Bengaluru] Over a year ago, the Securities and Exchange Board of India (SEBI) passed an interim order against Jane Street Group, LLC and related entities (JS Group), directing them to disgorge Rs. 4,843 crores in alleged unlawful gains from index options profits and restraining JS Group…