Author: CA Tushar Makkar

The Securities and Exchange Board of India (SEBI) introduced the Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015 to bring uniformity, transparency, and /legal/article-10456-the-role-of-securities-and-exchange-board-of-india-sebi-in-promoting-environmental-social-and-governance-esg-practices-in-indian-companies.htmlaccountability to companies listed on Indian stock exchanges. These regulations replaced the earlier clause-based listing agreement framework and consolidated multiple obligations into a single, comprehensive document. In today’s dynamic financial markets, the LODR plays a crucial role in ensuring that listed entities function with good governance practices, timely disclosures, and investor protection. What is LODR? Listing Obligations and Disclosure Requirements (LODR) Regulations are rules framed by SEBI to govern how listed companies must conduct themselves once they…

Mergers and acquisitions (M&A) are transformative business transactions that can significantly reshape companies, unlock new markets, and increase shareholder value. However, behind every successful M&A deal lies a rigorous process of due diligence—and among its most critical components is legal due diligence. Legal due diligence serves as the buyer’s legal microscope, scanning for potential liabilities, hidden risks, regulatory roadblocks, and contractual landmines. This comprehensive guide dives into what legal due diligence entails, its significance, steps, scope, common red flags, and best practices. What is Legal Due Diligence in M&A? Legal due diligence refers to the systematic investigation and analysis of…

Introduction The Foreign Exchange Management Act (FEMA), 1999 is a pivotal legislation in India’s economic reform story. Enforced on June 1, 2000, FEMA replaced the stringent and control-heavy Foreign Exchange Regulation Act (FERA), 1973. It was crafted to manage and facilitate foreign exchange in a more open and liberalized economic environment. FEMA reflects India’s transition from a protectionist regime to a globally integrated economy. Objectives of FEMA FEMA was designed with the goal of promoting orderly development and maintenance of the foreign exchange market in India. It aims to facilitate external trade and payments while ensuring the country’s forex reserves…

SEBI ICDR Regulations, 2018 The SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, commonly known as the SEBI ICDR Regulations, 2018, establish the regulatory framework for the issuance of securities, capital market activities, and listing of securities in India. The purpose of the SEBI ICDR Regulations is to safeguard investors’ interests, ensure proper disclosures, and enhance transparency in the capital market. These regulations apply to public offers, rights issues, private placements, preferential issues, and other mechanisms for capital raising in India. This detailed overview covers the important provisions, procedural requirements, and disclosures under the SEBI ICDR Regulations, 2018. Key…