Compliance & Regulatory
Private Markets Intelligence
The 4 Compliance Controls That Actually Protect Fund Managers in 2026
The four controls SEBI already requires of AIF managers, and the record each one produces for your trustee, investors and SEBI.
FDI Limit Expansion for PROI Equity Holders: What Changes in 2026 and Why It Matters
A practical 2026 guide to India's insurance foreign-investment ceiling and the ownership checks that still matter.
Handling Downstream Investment Reporting for Foreign-Owned and Controlled Entities
An Indian company's downstream investment may count as indirect foreign investment under FEMA. This guide explains the ownership and control tests, applicable conditions, DPIIT intimation and Form DI.
The Real Cost of Physical Share Certificates in a Digital-Market
A company-law decision path for exceptional physical share certificates before a private-company holding is dematerialised.
The Cost of 'Good Leaver' vs 'Bad Leaver' Clauses in SHAs: What Founders Actually Lose
A founder's worksheet for checking signed good- and bad-leaver terms and comparing hypothetical gross share-transfer amounts.
Merchant Banker vs Registered Valuer: Who Signs Which Report?
On 5 December 2025, SEBI quietly rewrote the rulebook on who gets to put their signature on a valuation report, and most founders still don't know it happened. If you've been asking a Merchant Banker to sign something a Registered Valuer should be signing, or vice versa, your report may not hold up the next time SEBI, the Income Tax Department, or an auditor comes asking. This is the question every CFO and company secretary has been Googling since the notification landed: Merchant Banke
What Is a Founders' Agreement? How Do You Structure It for an Indian Startup?
A practical agenda for recording founder roles, ownership, decisions and exit questions before a lawyer reviews the agreement.
ESOP Trust vs Direct Issuance: Which option should you pick?
Choose an ESOP delivery route by mapping where employee shares come from, whether a trust needs company funding, and who maintains the records.
How ESOPs Are Taxed in India: A Complete Guide for Employees and Companies
Exercise-date FMV sets the ESOP salary perquisite and the later share cost. Check employer records before estimating tax or claiming deferral.