Company Directors, trustees, and nominee shareholders are now under Money Laundering Act
The Finance Ministry expanded the ambit of the Prevention of Money Laundering Act (PMLA) to include directors of a company, trustees of an express trust, and nominee shareholders of a company as reporting entities. This means that these individuals will be held responsible for any misconduct or viol
SEBI warns trustees of VC funds over investment lapses
The Securities & Exchange Board of India (SEBI) has issued show cause notices to IDBI Trusteeship Services and Vistra, two trustee companies, in connection with investment lapses by venture capital funds. Even though trustees do not have a role in the day-to-day functioning of alternative invest
