Select Your Location
According to Regulation 11(aa) of the SEBI (Portfolio Managers) Regulations, 2020, a Portfolio Manager must first acquire SEBI’s prior consent before changing the control of a company in the way SEBI may specify. The process for getting prior approval in case of a change in control of Portfolio Managers was laid down in Vide Circular of SEBI and was updated recently on January 10, 2023.
The planned change in control of a portfolio manager was approved more quickly by capital markets regulator Sebi. In accordance with this, the regulator has outlined the process that PMs must take in instances involving scheme(s) of arrangement that requires National Company Law Tribunal sanction (NCLT).
Table of Contents
A portfolio manager is a legal entity that, in accordance with a contract or other agreement with a client, advises, directs, or otherwise takes on behalf of the client the management or administration of a portfolio of securities or the client’s assets.
A portfolio is a grouping of investments, such as stocks, bonds, cash and cash equivalents, trade funds, closed-end funds, and so forth. Because managing a portfolio can be difficult and time-consuming, the investor hires a portfolio manager to handle it.
Before engaging in the requisite activities, the corporate body must first register with SEBI as a portfolio manager in accordance with SEBI requirements. The SEBI (Portfolio Managers) Rules, 1993, contain the requirements.
The following describes the portfolio manager’s function.
The following eligibility requirements must be met in order for portfolio managers to register with SEBI:
The benefits of choosing these services are described below.
Portfolio managers will now be required to seek the capital markets regulator’s prior authorisation in the event of a change in control, according to new rules announced by Sebi. The following are the specified regulation procedures that need to be followed by the portfolio managers.
To accomplish the investor’s financial goal, the portfolio manager develops plans and strategies. They receive excellent compensation for handling the clients. Before beginning to work on the portfolio, the portfolio manager and investor have a thorough conversation about the client’s goal and what can be accomplished with the resources at hand.
Also Read:Portfolio Management Services- A Budding BusinessDifference Between Portfolio Management and Mutual Fund
I am a driven and meticulous professional who completed B.Com BL (Hons) from Tamil Nadu Dr. Ambedkar Law University and completed Master of Laws in specialization (Criminal Law with Cyber Crimes). I have extensive experience in Criminal Litigation and want to utilise my legal knowledge in writing also I have proficiency in writing legitimate content with comprehensive research. My core areas of interest are Business Law, Intellectual Property Rights, and Cyber crimes.
Black money has been the subject of heated political debate in India for a long time. Successiv...
The Apex Court pronounced a judgement in the case titled Tata Motors Vs The Brihan Mumbai Elect...
Since economies are moving towards digitalisation and making it feasible to conduct transaction...
The Alternative Investment Funds (AIFs) Pro-rata and Pari-Passu Rights Proposal Consultation Pa...
The Financial Action Task Force, i.e. FATF (the Force), is the global money laundering and terr...
Advance tax refers to the payment of the tax liability before the end of the relevant financia...
On 11.12.15, the Hon’ble Delhi High Court (HC) pronounced a landmark judgement in the case ti...
Money laundering can be defined as the process of illegal concealment of the origin of money ob...
Every assessee in India is obligated to file an income tax return and make the timely payment o...
In the recent past, India has seen burgeoning demand for internet and smartphones. The rapid ri...
The industry of Alternative Investment Funds (AIF) has skyrocketed in a matter of few years despite it being in its...
18 Apr, 2023
Alternative investment AIFs included under this category are SME Funds, Venture Capital Funds, Social Venture Funds...
15 Jan, 2018
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
Stay updated with all the latest legal updates. Just enter your email address and subscribe for free!