Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

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Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

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This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

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Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Jun 30, 2022

Amendment in Companies (Share Capital and Debentures) Rules, 2014

The Ministry of Corporate Affairs (‘MCA’), by its Notification dated May 04, 2022, has amended the Companies (Share Capital and Debentures) Rules, 2014, which is effective from May 05, 2022, by inserting a declaration from the transferee in Form SH-4 (securities transfer form). This amendment requires the transferee to confirm either of the following: (i) transferee is not required to obtain Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (‘NDI Rules’) prior to transfer of shares; or (ii) transferee is required to obtain Government approval under NDI Rules prior to transfer of shares, and a copy of such approval being attached.[1]

 

[1] This amendment has been introduced with the objective that if a transferee is a body corporate incorporated in, or a national of, a country which shares a land border with India, such body corporate or national, as the case may be, will be required to obtain Government approval under the NDI Rules, before effecting such transfer.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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