The consultation paper proposes a regulatory framework governing preferential issues and QIPs by IFSC-listed entities, focusing on disclosure norms, investor protection, and streamlined capital raising.
The draft regulations aim to curb insider trading, market manipulation, and fraudulent practices in IFSC securities markets while replacing existing SEBI rules.
The proposed regulations prescribe timelines, subscription periods, allotment procedures, and monitoring of issue proceeds for rights issues by IFSC-listed entities. The framework seeks to ensure orderly and transparent capital raising.
DGFT has launched the Support for Emerging Export Opportunities initiative under EPM to help MSMEs access trade finance for exports to underserved markets. The scheme provides government-backed risk-sharing support through Exim Bank to strengthen cross-border trade.
The government introduced a pilot credit assistance program under the Export Promotion Mission to provide working capital, guarantee cover, and interest subvention to MSME e-commerce exporters.
SEBI has introduced a voluntary lock-in facility allowing investors to freeze debits from mutual fund folios. The measure aims to enhance digital security and prevent unauthorized unit transactions.
The Uttarakhand High Court held that service of notice solely through the GST portal is invalid when the taxpayer’s registration has already been cancelled. Authorities must use other modes of service under Section 169.
The High Court held that refund of IGST paid on ocean freight cannot be rejected as time-barred when the levy itself has been declared unconstitutional. Authorities were directed to grant refund with interest.
The Court observed that the Tribunal granted partial relief without analysing whether the assessee had a strong prima facie case. The order was therefore remitted back for reconsideration of the interim application.
The tribunal held that disallowance under Section 14A cannot be made when the assessee has not earned any exempt income during the relevant year. The ruling reaffirmed that the provision applies only when exempt income actually arises.
