Corporate Amicus, October 2025

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Article

Key clarifications under the SEBI issued FAQs 2025

By Asish Philip Abraham, Astha Sinha and Simran Chetwani

The article in this issue of Corporate Amicus discusses the clarifications provided in the recently issued FAQs by SEBI for research analysts. It notes that the clarifications were required since the amendments as introduced in 2024 in the SEBI (Research Analysts) Regulations, 2014 had led to operational challenges and practical issues due to ambiguous provisions and compliance requirements. Elaborately discussing the FAQs, the authors also discuss lacuna beyond the clarifications. According to the authors, the clarifications still do not address the change which aligns the legal and compliance requirements for research analysts with those provided by SEBI for ‘Investment Advisers’, particularly with respect to educational and certification requirements, client service segregation, disclosure norms and deposit requirements. The authors state that for a balanced and effective regulatory environment, the distinct nature of the roles of research analysts and investment advisers should be recognised.

Notifications and Circulars
 

• RBI permits investment of SRVA rupee balances in corporate debt securities
   
• Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 amended
   
• Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015 amended
   
• RBI extends Integrated Ombudsman Scheme, 2021 to State and Central Co-operative Banks
   
• SEBI relaxes disclosure requirements for Related Party Transactions
   
• SEBI extends timeline for disclosure of allocation methodology by Angel Funds
   
• MCA extends deadline for filing e-form DIR-3-KYC and web-form DIR-3-KYC-WEB
   
• MCA grants relaxation of additional fees and extends time for filing of Financial Statements and Annual Returns
   

Ratio decidendi
 

• Doctrine of Lis Pendens cannot be used to protect speculative and frivolous suits for specific performance – Delhi High Court
   
• Guardian’s unauthorized sale of minor’s property is voidable – Subsequent repudiation by conduct suffices – Supreme Court
   
• Mortgage enforcement disputes are non-arbitrable – Bombay High Court
   
• Insurance company is not a necessary party in medical negligence complaints – Andhra Pradesh High Court
   
• Consumer proceedings filed during moratorium under IBC are void and unenforceable in law – Bombay High Court

News Nuggets
 

• EPFO launches ‘Vishwas Scheme 2025’ to reduce long-pending litigation
   
• SEBI issues ex-parte interim order against CERC Officials for alleged insider trading in IEX shares
   
• Uttarakhand High Court quashes 31-yr-old central govt ban on contract workers in ONGC
   
• Federal Bank to raise INR 6,196 crore via preferential issue of warrants to a Blackstone entity
   
• Finance Ministry mulls at raising FDI limits in PSBs to 49 per cent
   
• CCI approves JB Chemicals’ acquisition by Torrent Pharma