Editorial October 2025
Dear Readers,
During the month of October 2025 we are pleased to share the successful closing of a M&A transaction in Bengaluru for which RNM Capital acted as an exclusive Sell Side advisor in the Auto Dealership space. The transaction demonstrated our deep understanding of the auto industry as well as the nuances of deal making, including Valuations, M&A tax, Due Diligence, transaction documentation, psychology of money. In the end the satisfaction of achieving a win-win for both parties is the ultimate testament of a job well done.
On the Direct Tax side, the due date for filing Tax Audit has been extended to 10 November 2025 and the Income Tax Return due date has been extended to 10 December.
On the Indirect Tax Side, the Honorable Hight Court of Allahabad in the case of Vrinda Automation has held that the demand in an Order cannot exceed the amount specified in the Show Cause Notice (SCN) and any order passed beyond the scope of SCN is unsustainable in law.
On the Assurance Side, the Sebi has issued a Circular during the month of October 2025 modifying the original Circular of June 2025 to operationalize the Related Party Transaction (RPT) Industry Standards for minimum information to be provided to the Audit Committee and shareholders for approval of RPTs. Now only for RPTs exceeding Rs 10 crore full disclosure as specified in the RPT Industry Standard should be provided.
On the Transaction Regulatory front, the National Company Law Appellate Tribunal (NCLAT) in the case of Vantage Point Asset Management has held that any attachment of assets by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) ceases to have effect once the resolution plan is approved under the Insolvency and Bankruptcy Code (IBC).
We would like to take this opportunity of wishing all our readers, especially in North America best wishes for Thanksgiving Day on 27 November. On this day we celebrate gratitude, unity and harvest including the blessings of family and friends.