Finance Law and Banking Law

The Securities and Exchange Board of India, through notification dated 10.07.2026, has notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2026, further amending the SEBI (Alternative Investment Funds) Regulations, 2012.

Indian tax law provides a ‘safe harbour’ for the offshore funds managed from India. Broadly, the fund management activities carried out by an eligible fund manager in India with respect to an eligible investment fund, does not result in such Fund constituting a taxable presence in India or being treated as a tax resident in India.

Following the amendments to the AIF Regulations on July 14, 2026, SEBI has introduced the ‘Green-channel AIF Rollout Upon Document Acknowledgement (GARUDA)’ framework to streamline the Private Placement Memorandum (PPM) filing process and accelerate the rollout of AIF schemes.

A recent ruling by the National Company Law Tribunal examines whether standard project finance safeguards—including escrow controls, reserved matters, and monitoring rights—transform debenture holders into related parties, thereby disqualifying them from participating in the Committee of Creditors.

India's roads literally keep the nation moving — but what keeps them moving? In this episode of the IndiaLaw LLP Podcast, host Shreya Kabra sits down with Ms. Uditi Singh...

Rebalancing Portfolios: Take advantage of the regulatory incentives by diverting to the increased allocation of the instruments of the sovereign debt.

SEBI has introduced a new mechanism for handling lock-in requirements for pledged shares in public issues, requiring companies to amend their Articles of Association to ensure pledged equity shares remain locked-in even after pledge invocation or release. The circular establishes specific procedural requirements for issuers, including mandatory notifications to lenders and pledgees at key stages of the public offering process.

SEBI's intensified scrutiny of "General Corporate Purposes" in IPO offer documents reflects a fundamental shift in how regulators view the deployment of public capital. What began as a modest catch-all for operational flexibility has evolved into allocations reaching 25-35% of issue proceeds, prompting questions about transparency, investor protection, and the true intentions behind these vague funding categories.

Indian companies transitioning from founder-driven private enterprises to publicly listed entities face a fundamental governance challenge: distinguishing between founder-led vision and founder-controlled power structures. As SEBI's regulatory framework demands transparency in board composition, related party transactions, and decision-making processes, pre-IPO companies must dismantle informal governance practices and build institutional counterweights that protect minority shareholders while preserving st

Municipal bonds in India represent a critical financing mechanism for urban infrastructure, yet the market remains underdeveloped compared to corporate debt. This comprehensive legal guide examines the regulatory framework governing municipal bond issuance under SEBI's ILMDS Rules, exploring eligibility requirements, credit enhancement mechanisms, tax treatment, and the unique challenges facing both domestic and foreign investors in this emerging asset class.

The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, was enacted with the laudable objective of enabling banks and financial institutions to recover their dues...

Sophisticated investors investing in India are no longer required to settle for the fund. Increasingly, they want the deal, i.e., the specific, high-conviction opportunity sitting inside the fund’s portfolio.