Introduction

Edition 10th 23-24

Week – June 19th to June 24th

Quote for the week:

“I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.”

 - Mark Zuckerberg

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various circulars/notifications issued by certain regulatory authorities such as the Securities and exchange Board of India (“SEBI”), Reserve Bank of India (“RBI”).

The Regulatory authorities provided various updates/relaxations, some of which being:

1. SEBI issued Circular dated June 21, 2023 Standardized approach to  valuation  of  investment  portfolio  of Alternative Investment Funds.
2. SEBI vide Circular dated June 21, 2023 has issued Modalities for launching Liquidation Scheme and for distributing the investments of Alternative Investment Funds (AIFs) in-specie.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of June 19th to June 24th, 2023.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

SEBI

1. SEBI issued Circular dated June 21, 2023 Standardised approach to valuation of investment portfolio of Alternative Investment Funds
2.  SEBI on June 20, 2023 issued Master Circular on Scheme of Arrangement by Listed Entities and Relaxation under Sub-rule (7) of rule-19 of the Securities Contracts (Regulation) Rules, 1957
3. SEBI on dated June 21, 2023 issued Master Circular containing updates for Issue of Capital and Disclosure Requirements
4. SEBI vide Circular dated June 21, 2023 issued Circular asking AIFs to issue units in Dematerialised form
5. SEBI vide Circular dated June 21, 2023 has issued Modalities for launching Liquidation Scheme and for distributing the investments of Alternative Investment Funds (AIFs) in-specie

RBI

1.  RBI vide Notification dated June 22, 2023 issued additions to Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)