Legal Compliance Manual

Check out this Legal Compliance Manual put together by the Indian Institute of Corporate Affairs which has a list of statutory compliance required to be met by businesses under various laws such as corporate law, labour law, tax law, etc. This could be handy for practitioners and in-house compliance managers...

Towards better financial regulation

Here are the views of Ila Patnaik on FSLRC Approach Paper. Towards better financial regulation and What is regulation for. Interesting read...

Direct Tax Code, 2010

You may be aware that a comprehensive review of the Direct Tax Code 2010, particularly in the context of General Anti Avoidance Rules, is on anvil. Here is the Code. I will discuss some aspects of Avoidance Rules in my posts later...

Companies Bill, 2011

Here is the draft Companies Bill, 2011 and the latest Report of the Parliamentary Standing Committee on this Bill. After taking into consideration the Standing Committee’s views, the Cabinet has approved certain amendments to the Bill on 4th Oct 2012 which you will find here.

You will find the highlights of the Bill here and here. I will discuss some of the key features of the Bill in my posts later...

Financial Sector Legislative Reforms Commission

FSLRC (Financial Sector Legislative Reforms Commission) constituted by the Ministry of Finance, Government of India, to rewrite and harmonize financial sector rules and regulations, has recently published an Approach Paper. This can be accessed here. A detailed analysis of this paper will follow...

SEBI (Alternative Investment Funds) Regulations, 2012

You may be aware that the SEBI in May 2012 notified the SEBI (Alternative Investment Funds) Regulations, 2012 which is intended to regulate venture capital, private equity and other fund pooling activity. However, some doubts were expressed as to the reach of these regulations and different views were making rounds in the practitioners circle.

Here is an interesting post from Vinod Kothari and Soma Bagaria. The arguments laid out in their post can hardly be refuted on two counts: (a) meticulous interpretation of the regulations brought out (b) even on the basis of the first principles, the fundamental role of any securities regulator is to manage/regulate intricate issues flowing out of various so called agency / fiduciary relationships such as intermediary-client, company-investor, etc. But where the investor himself has a control over the ownership interest, the securities regulator should have no business.

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This blog deals with legal, tax and deal aspects of corporate finance. Hope you enjoy and benefit from reading this blog.