The Securities & Exchange Board of India (“SEBI”) has in its Board meeting on 17th June 2016 issued a Consultation Paper for amendments to the SEBI (Real Estate Investment Trusts) (“REITs”) Regulations, 2014 in order to smoothen the process of registration of REIT as well as the process of launching the offer. (more…)
The Securities & Exchange Board of India has on 11th May 2016 issued guidelines for the public issue of units of Infrastructure Investment Trusts (“InfITs”). The guidelines lists out provisions for the Appointment & obligations of merchant bankers, allocation in public issue, public communications, publicity materials, advertisements and research reports, obligations post issue lead merchant bankers amongst others. (more…)
On 1st April 2016 the State Government of Maharashtra has issued the notification regarding the amendment in the Maharashtra Stamp Act, according to which an addition has been made to the existing proviso under article 34 in column 2 according to which the State Government of Maharashtra has waived stamp duty on transfer of immovable property which is residential or agricultural by the owner to an heir or a family member being husband, wife, son, daughter, grandson, grand-daughter, wife of deceased son for which the amount of stamp duty chargeable shall be Rs 200/- (Rupees Two Hundred Only). (more…)
The Central Government has on 18th December 2015 notified rules for Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Compensation, Rehabilitation and Resettlement and Development Plan) Rules, 2015 which helps in getting clarity for the industry on land acquisition front. (more…)
As a part of Make in Maharashtra plan the State Government of Maharashtra has in its cabinet meeting held on 17th November 2015 decided to do away with approvals required for transfer of private agricultural land or agricultural land falling under the authority of various state departments for industrial use in urban areas and in special planning zones. In view of which No Objection Certificate (“NoC”) of State Government will no longer be required for purchase of agricultural land for industrial use. The other key highlights of the decision are as under:
(more…)
