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SEBI Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/158 dated 27.08.2020

The Circular talks about Guidelines issued by SEBI on Power of Attorney (PoA) signed by Client in favor of the Stock Broker. The Circular mentions that the PoA is only an optional document, and the same should not be included in the documents to be signed compulsorily when registering with Proxy Advisors. Power of Attorney documents should be deliberated upon and signed separately by the Client. The Circular clarifies the stance and motive of SEBI to protect the investor/client. The Circular also mentions the restrictions applicable on the PoA, even if one is obtained. The restrictions include restrictions on transferring funds, transferring personal assets, or transfer of securities for off-market trades, among other things.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.