India: Securities

The Securities and Exchange Board of India (“SEBI”), at its board meeting held on June 19, 2026, approved amendments to the SEBI (Buy-back of Securities) Regulations, 2018 (“Buy-back Regulations”) to re-introduce open market buy-backs through the stock exchange route with effect from August 1, 2026.

Securities and Exchange Board of India (“SEBI”), vide its circular dated April 30, 2026, has introduced a fast-track mechanism for the processing of private placement memorandums (“PPMs”) filed by alternative investment funds (“AIFs”) with SEBI, as an ease of doing business measure.

The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”), In the case of Vistra ITCL (India) Limited vs. Vithal Madhukar Dahake and Ors.1, has considered whether a third-party mortgagor, which created security over its assets for the debt of another entity, could be treated as giving rise to a ‘financial debt’ under the Insolvency and Bankruptcy Code, 2016 (“IBC”). The appeal arose from an order of the National Company Law Tribunal, Mumbai (“NCLT”).