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International Financial Services Centres Authority

(A statutory authority established by Government of India)

News Details

IFSCA sets up committee of experts for feasibility of the Variable Capital Company in India

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The International Financial Services Centres Authority has set up a Committee of Experts for examining the feasibility of the Variable Capital Company (VCC) in India with the following terms of reference:

  • Comprehensive analysis of fund structures under Indian Trust Act and VCC.
  • To examine VCC structure and suggest appropriate model/ framework that may significantly enhance the competitiveness of IFSC in India.
  • Feasibility of introducing VCC as separate chapter in Companies Act, 2013 versus need of enacting a separate legislation.
  • To explore alternative structures having characteristics like VCC.
  • The Committee may also deliberate on any issues which may be considered necessary but not mentioned in the above terms of reference.

The Committee consists of the following :

  • Shri K P Krishnan (IAS-Retd.) - Chairman,
  • Shri J Ranganayakulu (Former ED-Legal, SEBI) - Member
  • Shri Bobby Parikh (Managing Partner, Bobby Parikh & Associates) - Member
  • Shri Ketan Dalal (Founder, Katalyst Advisors LLP) - Member
  • Shri Tushar Sachade (Partner, PWC) - Member
  • Shri Jitesh John (Director, Department of Economic Affairs) - Member
  • Shri Pranay Chaturvedi (Deputy Director, Ministry of Corporate Affairs) - Member
  • Shri Denning K. Babu (DGM-Legal, IFSCA) – Member Secretary