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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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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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Oct 30, 2024

SEBI Provides Exemptions to University Funds and University Related Endowments Registered as FPIs from Making Additional Disclosures

SEBI, by way of Circular dated August 24, 2023 (‘August 2023 Circular’), mandated additional granular disclosures for foreign portfolio investors (‘FPIs’) that fulfilled the prescribed objective criteria along with the criteria for exemptions from making such additional disclosures.

In furtherance to the August 2023 Circular, SEBI has by way of Circular dated August 1, 2024, exempted university funds and university related endowments that are registered or eligible to be registered as category – I FPIs, from making the additional disclosures, subject to compliance with the following conditions:

i.    Indian equity assets under management (‘AUM’) being less than 25% of global AUM;

ii.   global AUM being more than INR 10,000 crore (approx. USD 1,190,000) equivalent; and

iii.  appropriate return/filing to the respective tax authorities in their home jurisdiction to evidence the nature of a non-profit organisation exempt from tax.

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DISCLAIMER

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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