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SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated 17.09.2020

SEBI on Thursday modified certain rules related to Mutual Fund (“MF”) schemes. It said the closing NAV of the day shall be applicable during purchase of MF units, irrespective of the time or size of receipt. The rules are to come into effect from January 1, 2020.
AMCs are required to use an automated Order Management System wherein the orders for equity and related instruments of each scheme shall be placed by the Fund Manager of the respective schemes.

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.