Practice Areas

Follow us

SEBI Press Release: SEBI/HO/IMD/DF4/CIR/P/2020/202 dated 08.10.2020

SEBI came out with guidelines for inter-scheme transfer of securities in mutual funds whereby no such transfer will be allowed in case of negative news in the mainstream media about the security. If a security gets downgraded following Inter-Scheme Transfers (ISTs) within a period of four months, fund manager of the buying scheme has to provide detailed justification to the trustees for purchasing such security, SEBI said in a circular. SEBI came out with guidelines for inter-scheme transfer of securities in mutual funds whereby no such transfer will be allowed in case of negative news in the mainstream media about the security.
If a security gets downgraded following Inter-Scheme Transfers (ISTs) within a period of four months, fund manager of the buying scheme has to provide detailed justification to the trustees for purchasing such security, SEBI said in a circular.
Presently, ISTs are allowed only if such transfers are done at the prevailing market price for quoted instruments on spot basis and the securities so transferred are in conformity with the investment objective of the scheme to which such transfers have been made.

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.