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Provisioning at a few banks hitherto keen on investing in Alternative Investment Funds (AIFs) could surge, while institutional flows into these aggressively managed pooled corpuses face disruption risks, after the central bank.
A Reserve Bank of India (RBI) circular issued Tuesday prohibits banks and NBFCs from investing in AIFs to prevent questionable asset transfers. This will affect large banks and NBFCs involved in AIF investments. "This RBI measure imposes significant requirements on banks and NBFCs," said Sai Krishna Bharathan, Partner, Trilegal.
Indian law firm Trilegal has continued to bolster its ranks, adding real estate specialist Monika Bhonsale as a partner in Mumbai from AZB & Partners.
Indian law firm Trilegal will hire corporate expert Pranav Atit as partner in Mumbai from AZB & Partners, with Atit set to start it in his new role in the next few months.
India’s Trilegal has hired four lawyers, namely Sai Krishna Bharathan, Shivani Kabra, Pallabi Ghosal and Vivek Bajaj, from AZB & Partners. While Bajaj will join Trilegal in Bengaluru, the other three will be based in Mumbai.