![]() Sebi is examining the possibility of introducing a framework for regulating SPACs in India. While public comments have been sought on the plan, the ministry of corporate affairs intends to commence discussions with other government agencies, such as the department of economic affairs in the finance ministry. So far, the International Financial Services Centre Authority (IFSCA) has put in place regulations for SPAC listing in GIFT City. Government officials said that the move will require several amendments to the law and there may also be fresh taxation issues, which will need to be addressed. The committee pointed out that some Indian companies such as ReNew Power had opted for the SPAC route to list overseas. ![]() This is holding up the plan, which was seen as a key reform initiative in recent years. While Parliament allowed the move, the revenue department has refused to address issues related to taxation. ![]() The panel has gone on to suggest that the provisions allowing Indian companies to list directly on overseas exchanges should be operationalised.
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