Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Creates a new SWAGAT-FI category for FPIs/FVCIs: (a) defines eligible investors (government/Govt-related, regulated public retail blind-pool mutual funds, regulated insurance companies investing own non-segregated funds, and regulated pension funds) and requires public retail funds to be from identified jurisdictions regulated by specified authorities, thereby permitting these entities to register as SWAGAT-FI FPIs; (b) permits existing FPIs to convert to SWAGAT-FI on application to their DDP, thereby enabling streamlined on-boarding; mandates depositories to provide a unified accounting/investing account for securities and units, thereby consolidating custody and reporting; extends registration renewal block to 10 years for SWAGAT-FI FPIs, thereby lengthening fee/renewal cycles; and sets custodial KYC review periodicity at 10 years for SWAGAT-FI FPIs, thereby reducing KYC frequency. SEBI.
Creates a new SWAGAT-FI category for FPIs/FVCIs: (a) defines eligible investors (government/Govt-related, regulated public retail blind-pool mutual funds, regulated insurance companies investing own non-segregated funds, and regulated pension funds) and requires public retail funds to be from identified jurisdictions regulated by specified authorities, thereby permitting these entities to register as SWAGAT-FI FPIs; (b) permits existing FPIs to convert to SWAGAT-FI on application to their DDP, thereby enabling streamlined on-boarding; mandates depositories to provide a unified accounting/investing account for securities and units, thereby consolidating custody and reporting; extends registration renewal block to 10 years for SWAGAT-FI FPIs, thereby lengthening fee/renewal cycles; and sets custodial KYC review periodicity at 10 years for SWAGAT-FI FPIs, thereby reducing KYC frequency. SEBI.
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