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Settling the controversy in yet another notable judgment dated March 26, 2021 in Tata Consultancy Services Limited v. Cyrus Investments Pvt. Ltd. and others.

The Supreme Court of India in the case of IDBI Trusteeship Services Limited vs. Hubtown Limited set aside a Bombay High Court ruling which had garnered quite a lot of attention among the foreign investors and in the legal circles.

Family succession through a trust in a listed company can silently become a tripwire that triggers an open offer obligation for the promoter family. Succession planning in a listed company cannot be done the way it is done in an unlisted one. Skipping SEBI’s prescribed exemption route for transferring promoter shares to a trust entails strict liability for penalties and an open offer obligation that only becomes more complicated over time.

Trusts—arguably the most elegant way to say, "I don't want to own this, but I still want control over it."

Debenture trustee is a person who safeguards the interest of debenture holders and serves as a liaison between the issuer company and the debenture holders.

Further, the Tribunal relied on certain judicial precedents9 to hold that interest in partnership firm is nothing but shares of a partnership firm.

Section 8 companies were introduced under the Companies Act 1913. They permitted companies with charitable objects etc. to be registered without the words ‘Limited' or ‘Private Limited'. Section 8 continues...

The increasing use of private trusts in succession planning and promoter structuring has prompted significant regulatory scrutiny...

The Securities and Exchange Board of India (‘SEBI') in its 211th Board Meeting, held on September 12, 2025, has approved certain amendments to the Securities Contracts (Regulation) Rules...

The Securities and Exchange Board of India (SEBI) has introduced significant amendments to the regulatory framework governing Real Estate Investment Trusts and Infrastructure Investment Trusts, specifically in relation to:

Business trusts — Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) — and their unit holders are taxed under a pass-through framework built around Section 223 of the Income-tax Act, 2025 (corresponding to Section 115UA of the erstwhile 1961 Act), read with Schedule V (Table Serial Nos. 3, 4 and 5) of the ITA 2025, which mirror clauses (23FC), (23FCA) and (23FD) of Section 10 of the ITA 1961.

Securities and Exchange Board of India's ("SEBI") "accredited investor" framework in the Alternative Investment Funds ("AIF") space is built around...

The Finance Act 2021 had amended Section 10(23C) and Section 11 of Income Tax Act, 1961, to prevent claiming application of corpus as application of income by charitable institution.

For Alternative Investment Funds (AIFs) in India, the second certainty often proves more complex than the first.

In this regard, the 2020 Regulations have clarified that the role of the compliance officer cannot be assigned to the principal officer or the employee of the portfolio manager.

Imagine you are a founder of a company you built from scratch. Over the years, you diluted your shareholding through successive funding rounds, stepped back from day-to-day operations, brought in a professional CEO, and reconstituted the board with independent directors.