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To set up shop at IFSC, aircraft lessors need $200k corpus
IFSCA puts out regulations to set up aircraft leasing operations at Gift CityPremium
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New Delhi/Mumbai: Corporations looking to set up aircraft leasing businesses at the International Financial Services Centre (IFSC) in Gujarat’s GIFT City must maintain a minimum corpus of $200,000 or its equivalent in foreign currency, and be ready to pump in more capital depending on the scale of the business, the International Financial Services Centres Authority (IFSCA) said.
The operator at IFSC will be allowed to sell and lease back aircraft, transfer and renew contracts, or initiate similar transactions related to aircraft leasing. For any other related activity, it will have to take prior approval of the IFSCA, a circular from the authority said.
Aircraft leasing business can now take wings out of GIFT City
February 19, 2021
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Regulator issues ‘Framework for Aircraft Operating Lease’, paving way for offshore entities to set up base in IFSCs
The legal decks have been cleared for aircraft leasing businesses to take wings out of Indian shores (GIFT IFSC in Gujarat) with the GIFT City regulator International Financial Services Centre Authority ( IFSCA) on Friday issuing a ‘ Framework for Aircraft Operating Leases’.
This will enable the aircraft operating lease businesses to be set up in International Financial Services Centres (IFSCs) and address the projected market size of more than $ 50 billion for aircraft leasing in the country. Currently, India has only one IFSC in GIFT City in Gujarat.
Centre Can t Use Power To Notify IBC Sections Only As Regards Personal Guarantors, Salve Argues For Anil Ambani In SC
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The Supreme Court on Thursday heard the arguments of Senior Advocate Harish Salve on behalf of Reliance Communications head Anil Ambani on a plea challenging the Central Government notification extending provisions of the insolvency law to personal guarantors. You cannot specify the subject matter as regards which the section comes into force, you can only specify the section , Salve.
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SEBI bars few entities for fraudulently carrying out MF services
By IANS |
Published on
Fri, Feb 12 2021 21:42 IST |
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SEBI.. Image Source: IANS News
Mumbai, Feb 12 : The Securities and Exchange Board of India (SEBI) has barred Shukul Wealth Advisory, along with Shukul Wealth Creator LLP and their associate partners, for carrying out activities of a mutual fund without registration with the market regulator.
The regulator has also directed ICICI Bank to freeze the bank accounts of both the firms and not to permit any debits or withdrawals, along with not allowing credits to the accounts, till further orders, without the SEBI s permission.