Special purpose acquisition companies (SPACs), also known as "blank-cheque companies", have gained popularity in India in recent years. Despite government support, the law is, in some ways, still hindering their development. Once the Securities and Exchange Board of India rolls out laws to govern SPACs, amendments will be required in the Companies Act to create harmony in the regulatory framework.
In the below video, Vineet Aneja discusses how covid-19 has driven a surge in SPACs in India and the legal challenges that need to be overcome in order to drive their success.
For further information on this topic please contact Vineet Aneja at Clasis Law by telephone (+91 11 4213 0000) or email ([email protected]). The Clasis Law website can be accessed at www.clasislaw.com.