Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
The regulator amended the Angel Fund framework and, having earlier required existing Angel Funds to disclose an allocation methodology in their PPMs and apply it to investments after October 15, 2025, has extended that compliance deadline to January 31, 2026. Thereafter, allocations must follow the disclosed methodology. All other aspects of the prior circular remain unchanged. The extension responds to industry requests for more time and is effective immediately, issued under the regulator's statutory powers to protect investors and regulate the securities market.
The regulator amended the Angel Fund framework and, having earlier required existing Angel Funds to disclose an allocation methodology in their PPMs and apply it to investments after October 15, 2025, has extended that compliance deadline to January 31, 2026. Thereafter, allocations must follow the disclosed methodology. All other aspects of the prior circular remain unchanged. The extension responds to industry requests for more time and is effective immediately, issued under the regulator's statutory powers to protect investors and regulate the securities market.
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