Sovereign wealth fund notification requires government ownership, no private benefit, vesting on dissolution, and no commercial activity. A sovereign wealth fund seeking notification under clause (23FE) of section 10 must provide its identification and residence particulars and certify that it is wholly owned and controlled by a foreign government, established and regulated under that government's law, and that its earnings benefit no private person. Its assets must vest in the government upon dissolution, and it must not undertake commercial activity in or outside India. Constituting documents, amendments, and other relevant information must be attached, with verification by a person competent under section 140.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Sovereign wealth fund notification requires government ownership, no private benefit, vesting on dissolution, and no commercial activity.
A sovereign wealth fund seeking notification under clause (23FE) of section 10 must provide its identification and residence particulars and certify that it is wholly owned and controlled by a foreign government, established and regulated under that government's law, and that its earnings benefit no private person. Its assets must vest in the government upon dissolution, and it must not undertake commercial activity in or outside India. Constituting documents, amendments, and other relevant information must be attached, with verification by a person competent under section 140.
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