Entries by Anushka Vohra

SEBI proposals to ease trading plans by company insiders

-Consultation paper proposes to rationalise the existing framework under insider trading Anushka Vohra | Senior Manager corplaw@vinodkothari.com Background The concept of trading plan was introduced for the first time in the SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT Regulations’). The rationale for introducing the same, as indicated in the Report of the High Level […]

Contra trade restrictions – traversing out of PAN to common control

Anushka Vohra | Senior Manager corplaw@vinodkothari.com Introduction The SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT Regulations’) impose certain restrictions and obligations on the DPs, one of which is contra trade restriction. The DPs and their immediate relatives are restricted from entering into contra trade which refers to opposite trades executed viz. buy / sale […]

Extended disclosure u/r 30A w.r.t. Agreements

-Anushka Vohra | corplaw@vinodkothari.com Companies often enter into various agreements with third parties, which may / may not be in the normal course of business and for which approval of shareholders is not mandated by law. Likewise, the promoters, directors of companies may enter into various agreements with third parties, to which the company is […]

Succession planning: failing to plan is planning to fail

-Anushka Vohra | Manager | anushka@vinodkothari.com The article was also published in the CRA E-Bulletin and can be viewed here Background Passing the torch, lighting the way – an expression that can be used to refer to succession planning. Be it a household, business organization or institution, succession planning is needed everywhere. In a household, […]

Pledge of shares by promoter entities

– concerns involved, regulatory framework and need for additional disclosures – Anushka Vohra, Manager | corplaw@vinodkothari.com Background It is common for promoter / promoter companies (HoldCo) to raise funds by way of pledging their shares held in operating companies (OpCo). This is known as loan against securities (LAS). LAS enables borrowers to raise funds from […]

Corporate law changes: small steps towards procedural simplification 

– Anushka Vohra, Manager | corplaw@vinodkothari.com The Budget 2023, proposes certain amendments, partly towards ease of doing business, and partly for certain rationalization measures. The major amendments proposed are as follows: We had in our previous article, dealt with the question whether,GST paid, while acquiring goods or services for CSR activities would give rise to […]

Deferred public disclosure of RHP in IPO/filing of pre DRHP in confidential mode

– Anushka Vohra, Manager | corplaw@vinodkothari.com SEBI vide its notification dated November 21, 2022 has come up with SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2022 (“Amendment”), effective immediately, making changes in the existing SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR”) w.r.t. Initial Public Offer (“IPO”). The Amendment has […]