Transaction and Regulatory Advisory Services Alert May 2025

In this edition we have tried to bring you notice the latest amendment that followed in the month of May, 2025 issued by SEBI, RBI, MCA and IBBI and Other laws.

SEBI

Revised FAQ of SEBI on digital Know Your Customer (KYC) process

With the said revised FAQs, SEBI has taken a commendable step in this direction by reinforcing its commitment to equal access to financial services for persons with disabilities (PwDs), including those with visual impairments.

To read more:

https://www.sebi.gov.in/legal/circulars/may-2025/accessibility-and-inclusiveness-of-digital-kyc-to-persons-with-disabilities_94096.html

Norms for Internal Audit Mechanism and composition of the Audit Committee of Market Infrastructure Institutions 

SEBI has issued a circular on the Norms for Internal Audit Mechanism and composition of the Audit Committee of Market Infrastructure Institutions.

To read more:

https://www.sebi.gov.in/legal/circulars/may-2025/norms-for-internal-audit-mechanism-and-composition-of-the-audit-committee-of-market-infrastructure-institutions_94030.html

Review of provisions pertaining to Electronic Book Provider (EBP) platform to increase its efficacy and utility

SEBI has issued a circular relating to Review of provisions pertaining to Electronic Book Provider (EBP) platform to increase its efficacy and utility. This circular consolidates and clarifies previous guidelines, ensuring a standardized and transparent approach to private placements, particularly for large issuances. 

To read more:

https://www.sebi.gov.in/legal/circulars/may-2025/review-of-provisions-pertaining-to-electronic-book-provider-ebp-platform-to-increase-its-efficacy-and-utility_94020.html

Investor Charter for Registrars to an Issue and Share Transfer Agents (RTAs)

SEBI has issued a circular to Update the Investor Charter for RTAs to Enhance Investor Protection and Financial Inclusion. 

To read more:

https://www.sebi.gov.in/legal/circulars/may-2025/investor-charter-for-registrars-to-an-issue-and-share-transfer-agents-rtas-_93919.html

Review of – (a) disclosure of financial information in offer document, and (b) continuous disclosures and compliances by Real Estate Investment Trusts (REITs)

SEBI with an intent to enhance transparency and streamline compliance for Real Estate Investment Trusts (REITs), has issued a Circular on disclosure in offer documents and continuous compliance requirements post-listing. 

To read more:

https://www.sebi.gov.in/legal/circulars/may-2025/review-of-a-disclosure-of-financial-information-in-offer-document-and-b-continuous-disclosures-and-compliances-by-real-estate-investment-trusts-reits-_93837.html

Publishing Investor Charter for KYC (Know Your Client) Registration Agencies (KRAs) on their Websites.

SEBI with an intent to enhance transparency and investor awareness, has issued a circular, mandating all Know Your Client (KYC) Registration Agencies (KRAs) to prominently publish an Investor Charter on their websites and at their offices.

 To read more:

https://www.sebi.gov.in/legal/circulars/may-2025/publishing-investor-charter-for-kyc-know-your-client-registration-agencies-kras-on-their-websites-_93811.html

Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2025

This amendment strengthens the disclosure framework applicable to securitised debt instruments (SDIs) and related entities. SEBI has mandated enhanced annual disclosures by trustees of securitised debt instruments to improve transparency and protect investor interests. 

To read more:

https://www.sebi.gov.in/legal/regulations/may-2025/securities-and-exchange-board-of-india-listing-obligations-and-disclosure-requirements-second-amendment-regulations-2025_93783.html

Measure for Ease of Doing Business – Facilitation to SEBI registered Stock Brokers to undertake securities market related activities in Gujarat International Finance Tech-city – International Financial Services Centre (GIFT-IFSC) under a Separate Business Unit (SBU)

SEBI with an intent of enhancing the ease of doing business and strengthening India’s position in the global financial ecosystem, issued a circular to introduce a significant relaxation for SEBI-registered stock brokers aiming to expand their operations to the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC) 

To read more:

https://www.sebi.gov.in/legal/regulations/may-2025/securities-and-exchange-board-of-india-listing-obligations-and-disclosure-requirements-second-amendment-regulations-2025_93783.html

RBI

Investments by Foreign Portfolio Investors in Corporate Debt Securities through the General Route – Relaxations

The Reserve Bank of India has relaxed norms for Foreign Portfolio Investors in Corporate Debt Securities through the General Route.

To read more:

https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12847&Mode=0

Policy Statement: Framework for Formulation of Regulations

This framework outlines the broad principles for formulation of Regulations issued in exercise of the powers conferred on the Reserve Bank of India by or under the provisions of various Acts and Rules. 

To read more:

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=60392

Processing of Regulatory Authorisations/ Licenses/ Approvals through PRAVAAH

The Reserve Bank of India has launched PRAVAAH (Platform for Regulatory Application, Validation And AutHorisation) as a secure and centralised web-based portal for any entity or individual to seek authorisation, license or regulatory approval on any reference made by it to the Reserve Bank

To read more:

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12845&Mode=0

MCA

 Extension of Form CSR-2

According to a notification, the deadline for submitting the form, which pertains to Corporate Social Responsibility activities, has been pushed to June 30, 2025. This amendment was implemented through the Companies (Accounts) Amendment Rules, 2025, which came into effect upon their publication in the Official Gazette. 

To read more:

https://www.mca.gov.in/bin/dms/getdocument?mds=LDpXKzuAigAavlWsKxaZDw%253D%253D&type=open

Companies (Indian Accounting Standards) Amendment Rules, 2025

The amendment has been carried out in Ind AS 21 to clarify the concept of exchangeability between currencies, requiring assessment at the measurement date for a specific purpose. 

To read more:

https://www.mca.gov.in/bin/ebook/dms/getdocument?doc=NTM0OTE2NzU5&docCategory=Notifications&type=open

IBBI

Launch of Revised Forms for Corporate Insolvency Resolution Process (CIRP).

The Insolvency and Bankruptcy Board of India, through notification dated 19th May, 2025, has amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 to introduce a simplified and streamlined forms framework for monitoring Corporate Insolvency Resolution Process (CIRP). 

To read more:

https://ibbi.gov.in/uploads/whatsnew/61b8f4eb234c5836f5078e77198b760b.pdf

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