^1[107J. The FMEs shall have the following risk management measures in place: (a) An internal policy comprising of a comprehensive risk management framework to identify and address the unique risks associated with third-party fund management and conflicts emerging from the same; (b) Segregation of funds and operational independence for all the schemes, whether under self-management or third-party fund management; (c) Existing mechanism to address the investors' com... ... ...

^1[107I. For the Restricted Schemes that are managed under the third-party fund management services, besides making disclosures under regulation 36, the FME shall make the following disclosures under a separate head / section at a prominent place in the placement memorandum: (a) Details of the third-party and the persons who effectively conduct the business of such third-party; (b) Details of the segregated responsibilities of the FME and such third-party; (c) Pote... ... ...

^1[107H. Eligibility of 'third-party' A FME may provide third-party fund management services only to such third-party who is a third-party fund manager and meets the following criteria, namely: (a) It is incorporated either in India, IFSC or a foreign jurisdiction; (b) It allocates adequate resources to discharge its functions; (c) The persons responsible for its functions have adequate and requisite experience; and, (d) The third-party, its officers, direc... ... ...

^1[107G. (1) A FME shall manage Restricted in accordance with and in the manner as specified under Part B of Chapter III of these regulations: Provided that such scheme does not exceed the corpus of USD 50 million or such other value as may be specified by the Authority. (2) The third-party, under the third-party fund management arrangement, shall be deemed to be an associate of the FME for the purpose of compliance with the requirements specified under sub-regulation 3 of regulation ... ... ...

SUDERSHAN KUMAR MISRA, J. For the Petitioners : Mr. Abhimanyu Mahajan with Mr. Susmit Pushkar, Advocates For the Official Liquidator : Mr. Rajiv Bahl, Advocate, Mr. V. K. Gupta, Dy. Registrar of Companies ORDER SUDERSHAN KUMAR MISRA, J. 1. This joint petition has been filed under Sections 391(2) & 394 of the Companies Act, 1956 by the petitioner companies seeking sanction of the Scheme of Amalgamation of M/s. Genpact Infrastructure (Hyderabad) Private Limited (hereinafter referred... ... ...

  Definition as per the Income-tax Act, 2025 Section 355 { For purpose of Part B, NPO}  "wholly for charitable or religious purposes" shall mean wholly for charitable purposes or wholly for religious purposes or wholly for charitable and religious purposes. =============... ... ...

^1[107F. A FME seeking authorisation to offer third-party fund management services shall, at all times, maintain an additional net worth of USD 500,000 or such other amount as may be specified by the Authority; Explanation.- Such net worth shall be separate and in addition to: (i) the minimum net worth requirements applicable for its activities as a FME for the schemes, Portfolio Management Services or any other activities as permitted under these regulations as per the category ... ... ...

An FME under a third-party fund management arrangement must appoint a dedicated Principal Officer for each scheme, responsible for fund management, risk management and compliance. Non-Retail FMEs may use an existing Compliance Officer for third-party managed schemes, while Retail FMEs must keep Retail Scheme compliance oversight separate from Non-Retail Scheme oversight. Third-party managed scheme assets under management count towards additional KMP requirements, excluding fund of funds schemes.

A Fund Management Entity seeking authorisation for third-party fund management services in an IFSC must be constituted as a company, limited liability partnership, or another form permitted by the Authority. Its constitutional documents must expressly authorise the provision of third-party fund management services.

Third-party fund management services require an FME to obtain authorisation and comply with applicable conditions. The FME must maintain a strengthened compliance function, with resources proportionate to its IFSC operations and adequate scheme-specific compliance oversight. The FME and fiduciaries must ensure compliance, while the FME remains liable for all obligations and liabilities arising from a third-party fund management arrangement despite any contractual or indemnification arrangement with the third party.

Third-party fund management services or arrangements arise where a Registered FME manages schemes on behalf of a third party. A third-party fund manager includes an entity registered or regulated by the relevant financial-sector regulator in its country of incorporation for fund management, portfolio management, investment advisory, or a similar activity, and which avails such services from a Registered FME.

  Definition as per the Income-Tax Act, 2025 Section 355 { For purpose of Part B, NPO}  "value" means the value of any benefit or facility granted or provided free of cost or at concessional rate to any related person. Definition as per the Income-tax Act, 1961 Explanation - Section 12(2) For the purposes of this sub-section, the expression "value" shall be the value of any benefit or facility granted or provided free of cost or at concessional rate to any person ... ... ...

GOVERNMENT OF NCT OF DELHI DEPARTMENT OF TRADE AND TAXES POLICY BRANCH, VYAPAR BHAWAN, IP ESTATE, NEW DELHI-110002. F. No.3(523)/GST/POLICY/2024/1543-51 Dated: 22/5/24 INSTRUCTION Sub: The Insolvency and Bankruptcy Code (IBC), 2016 has been enacted to consolidate and amend the laws relating to reorganisation and insolvency resolution in a time bound manner for maximisation of value of assets, to promote entrepreneurship, availability of credit and balance the interests of a... ... ...

J.B. PARDIWALA AND MANOJ MISRA JJ. For the Petitioner : Mr. Rajat Khattry, Adv. Mr. Varadarajan, Adv. Mr. Abhay Kumar, AOR For the Respondent : Mr. S.K. Verma, AOR Mr. Rajesh Singh Chauhan, AOR Mr. Anil Kumar Singh, Adv. JUDGMENT J. B. PARDIWALA, J .: 1. This petition seeking leave to appeal under Article 136 of the Constitution is at the instance of M/s Universal Sompo General Insurance Company Limited, Original appellant before the National Consumer Disputes Redressal Commission... ... ...

New Delhi, Sep 11 (PTI) Commerce and Industry Minister Piyush Goyal on Friday said exports from BRICS countries have risen from about USD 900 billion in 2003 to USD 6 trillion in 2024, reflecting the scale of its market and potential. Speaking at the BRICS Business Forum here, Goyal also said the share of BRICS nations in global exports has nearly doubled to about 24 per cent. "This is the largest BRICS business forum ever held. The Forum has taken up issues such as non-tariff barriers imp... ... ...

Mumbai, Sep 11 (PTI) India's forex reserves jumped by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion during the week ended September 4, the RBI said on Friday. In the previous reporting week, the overall reserves increased USD 11.475 billion to a new all-time high of USD 740.803 billion. The kitty had been declining since the start of the conflict in West Asia earlier this year, as the rupee came under pressure and the RBI had to intervene in the forex market t... ... ...

For uniformity in Delhi GST administration, the Delhi State Tax Department applies mutatis mutandis Instruction No. 05/2023-GST of Central Tax while implementing the Delhi Goods and Services Tax Act, 2017. The central-tax instruction concerns the Supreme Court judgment in Northern Operating Systems Private United (NOS), and the measure is clarificatory; implementation difficulties may be referred to the Commissioner of State Tax, Delhi.

Regulation 107A, within Part D: Third-Party Fund Management Services, authorises an FME to launch a scheme on behalf of a third party, subject to compliance with Part D. It establishes a regulatory route for third-party scheme launches by an FME, with Part D requirements governing the exercise of that permission.

Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged corruption, question-paper leaks, and manipulation of state Public Service Commission examinations conducted in 2020 and 2021. An additional collector, formerly an officer on special duty in the office of the then chief minister, was arrested in connection with the investigation. Custodial interrogation is proposed to be sought before the special Prevention of Money Laundering Act court.

Under the Madhya Pradesh Excise Act and Country Spirit Rules, a CS-1 licence for manufacture, bottling and wholesale supply of country spirit requires State Government approval and operation within an area determined by the Excise Commissioner. The governing provisions do not prescribe prior participation in a tender process or prior allotment of an operational area as licence conditions. Although no fundamental right exists to trade in liquor, the State's grant of liquor privileges must satisfy Article 14 and cannot be arbitrary. Refusal solely for non-participation in tendering is therefore inconsistent with the statutory scheme and requires reconsideration without those extraneous conditions.