Category Archives: Regulatory

Direct listing of equity shares of unlisted Public Companies incorporated in India on International Exchanges

The Government of India has issued following notifications on 24th January, 2024 namely; Foreign Exchange Management (Non-Debt Instruments) Amendment Rules, 2024 Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024. The aforementioned notifications enable unlisted public Indian companies as … Continue reading

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Investment under Employee Benefit Scheme/ESOP/Sweat Equity Shares

The new regime for Overseas Investment (“Regulations on OI”) as issued by Reserve Bank of India on August 22, 2022 permits resident individuals being employee or a director of an office in India or branch of an overseas entity or … Continue reading

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MCA Notifies Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023

MCA issued LLP (Significant Beneficial Owners) Rules, 2023 (“SBO Rules”) on 9th November 2023, requiring LLPs to identify and report details of Significant Beneficial Owner (“SBO”) to MCA. NON-APPLICABILITY The SBO Rules shall not apply to: Contribution held by the … Continue reading

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Rule 114B: CBDT Amends PAN-related Rules for Foreign Companies and NRs Transacting with IFSC Banking Units

The Central Board of Direct Taxes (CBDT) has amended rules related to obtaining and quoting Permanent Account Number (PAN). The amendments have been made in Rule 114B, 114BA and 114BB of the Income Tax Rules, 1962 (the Rules). Amendment in … Continue reading

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Rule 11UA: New Methods for Valuing CCPS and Unquoted Shares

The Finance Act, 2023 amended section 56(2)(viib) of the Income Tax Act, 1961 (‘the Act’) to bring into account the consideration received from non-residents for issuance of shares. Now, the CBDT has notified Income-tax (Twenty-First Amendment) Rules, 2023, amending Rule … Continue reading

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