Unintended Impact – Investor Education and Protection Fund (IEPF)
Publication: Capital Market Magazine, April 2024 Article Summary: The article analyses the evolution and practical implications of the Investor Education and Protection Fund (IEPF), a mechanism introduced to consolidate unclaimed investor funds such as dividends, matured deposits, debenture redemption proceeds and IPO refund amounts. Under the Companies Act, 1956, companies were required to transfer such […]
A Balancing Act – Bonus Issues and Stock Splits
Publication: Capital Market Magazine, February 2011 Article Summary: This article explains the economic logic behind two widely discussed corporate actions—bonus issues and stock splits—and clarifies several misconceptions surrounding them. Bonus shares are issued by capitalising a company’s reserves, converting a portion of accumulated profits into equity share capital. While shareholders receive additional shares free of […]
A Comprehensive Review of SEBI’s Major Regulatory Changes in 2010
Publication: Capital Market Magazine, December 2010 Article Summary: This article reviews several important regulatory initiatives introduced by the Securities and Exchange Board of India (SEBI) in 2010 aimed at strengthening investor protection and improving the functioning of India’s capital markets. One of the most significant developments was the expansion of the Application Supported by Blocked […]
Rights of a Nominee Depend On The Asset Being Inherited.
Publication: Capital Market Magazine, December 2010 Article Summary: This article examines an important but often overlooked aspect of personal financial planning—the role of nomination and inheritance rules in ensuring smooth transmission of financial assets such as insurance policies and shares. While nomination is widely regarded as a simple mechanism for transferring assets after the death […]
Minimum Public Float Norm – Bitter Pill for Stock Market’s Ailments
Publication: SEBI and Corporate Laws Magazine, December 2010 Article Summary: This article examines the amendment introduced by the Ministry of Finance in June 2010 to the Securities Contracts (Regulation) Rules, 1957 requiring all listed companies in India to maintain a minimum public shareholding of 25 per cent. The reform was intended to improve market depth, […]
ULIPs – An Attractive Makeover.
Publication: Capital Market Magazine, November 2010 Article Summary: This article analyses the regulatory overhaul of Unit Linked Insurance Policies (ULIPs) following the high-profile jurisdictional dispute between the Securities and Exchange Board of India (SEBI) and the Insurance Regulatory and Development Authority (IRDA). The controversy arose when SEBI attempted to restrict the sale of ULIPs by […]
Direct Taxes Code – Back to the Past
Publication: Capital Market, October 2010 Article Summary: The article analysed the Direct Taxes Code (DTC) 2010 Bill, which had been proposed as a comprehensive reform to replace the Income Tax Act, 1961 with the objective of simplifying tax laws and improving compliance. However, the revised version of the bill appeared to dilute several structural reforms […]
Takeover Regulations – A Fine Balance.
Publication: Capital Market, February 2010 Article Summary: The article analyses the proposed overhaul of India’s takeover regulations based on recommendations made by the Takeover Regulations Advisory Committee (TRAC) constituted by the Securities and Exchange Board of India (SEBI). The committee proposed sweeping changes to the existing takeover framework with the objective of improving transparency in […]
Differential Voting Rights Shares – Nipped in the Bud
Publication: SEBI and Corporate Laws, September 2010 Article Summary: This article analyses the regulatory framework governing Differential Voting Rights Shares (DVRS) in India and the reasons behind their limited adoption. DVRS were introduced through an amendment to Section 86 of the Companies Act, 1956, allowing companies to issue equity shares with voting rights differing from […]
Direct Taxes Code – Revised but not better
Publication: Capital Market, August 2010 Article Summary: This article examined the implications of the revised discussion paper on the Direct Taxes Code (DTC), particularly its impact on capital gains taxation and investor behaviour. While the original DTC proposal aimed to simplify taxation by removing the distinction between short-term and long-term capital gains, the revised version […]