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Spotlight

Union Budget 2022-23 has positive outcomes for the industry. We are thankful to the Hon'ble Finance Minister for announcement such as

  • Recognising the role of PE/VC industry as an important participant of India's economic agenda.
  • Setting up of the expert committee for the industry
  • Announcement of capping of surcharge on long term capital gains arising on transfer of any type of assets at 15 per cent
  • The extension of the period of incorporation of the eligible start-up by one more year, that is, up to 31.03.2023 for providing tax incentive
  • Providing the cornerstone capital for funds in the sunrise sectors and
  • Few announcements for Gift City. These are significant steps in accelerating the growth of the alternate asset industry

IVCA met Shri Ajay Seth, Secretary DEA on 6th Jan 2022 to discuss Budget 2022 dreams list for the domestic AIF industry to make India the World #1 StartUp Nation: Comprehensive AIF tax code; An ₹10,000 Cr Fund of Funds from EPFO / NPS;One LTCG Tax Rate for listed and unlisted shares (in AIF 1 and 2); and Unlock startup potential by bringing a change in the ESOP taxation

Virtual Meeting was organised with Shri Anand Mohan Bajaj, Additional Secretary DEA on 12th Jan 2022 to discuss Budget 2022 dreams list for the domestic AIF industry to make India the World #1 StartUp Nation


Department for Policy Promotion and Industrial Trade (DPIIT), Ministry of Commerce and Industries hosted a “Closed Door Roundtable on Mobilising Capital for Investment into Startups” with IVCA which received participation of 75 VC fund investors from across the United States, Japan, Singapore along with Domestic Funds and other Global Funds domiciled in India. All of these funds had a combined reported AUM to the north of $30 Bn in the Indian Region. The meeting was chaired by Shri Piyush Goyal, Minister of Commerce and Industry, GOI




IVCA members Mr. Vaibhav Sanghavi, Mr. Srini Sriniwasan, Mr. Nipun Sahani & Mr. Vipul Roongta met Shri Tarun Bajaj, Revenue Secretary, on 4th Jan 2022 to discuss the issues on Special Situations Fund as a sub-category of Category I AIFs, CAT III AIF taxation and few Real Estate issues. Joint Secretary TPL I, Joint Secretary TPL II and Member CBDT were also present in the meeting



Mr. Gopal Srinivasan, Ms. Renuka Ramnath and Mr. Karthik Reddy met Shri Tarun Bajaj Revenue Secretary on 5th Jan 2022 to discuss Budget 2022 dreams list for the domestic AIF industry to make India the World #1 StartUp Nation: Comprehensive AIF tax code; An ₹10,000 Cr Fund of Funds from EPFO / NPS;One LTCG Tax Rate for listed and unlisted shares (in AIF 1 and 2); and Unlock startup potential by bringing a change in the ESOP taxation




IVCA and Control Risk hosted the webinar on the topic "2022: Top 3 risks for private investors in India".


Advocacy


Updates for the month of January

DPIIT & Startup India organised a VC Roundtable (virtual) with IVCA at India Innovation Week dated 13th Jan 2022 to sensitise the government towards Alternatives and Startups

IVCA met Mr. Deepak Kumar, Executive Director and other RBI officials on 27th Jan 2022 on the few issues faced in setting up the IFSC AIF structure and recommendations to simplify the fund set-up and encourage the IFSC AIF regime.

Representation on Modification in tax regime for Alternative Investment Funds investing in distressed assets and Special Situation Funds and recognition of Special Situation Funds as ‘secured creditor’ to DEA on 1st Jan 2022

Representation on CAT III AIFs- Pass through Taxation for domestic investors - Post Meeting with Revenue Secretary to Joint Secretary (JS TPL I & II), Member CBDT & DEA on 6th Jan 2022

Submission on unlisted debentures within SARFAESI Act, CAT III AIFs Taxation & IFSC issues post meeting with Revenue Secretary on 7th Jan 2022

Representation on Budget 2022 dreams list for the domestic AIF industry to make India the World #1 StartUp Nation to CBDT, DEA & Finance Secretary & Secretary Expenditure

Representation on revised ESOP's Proposal (suggestion for ESOP taxation & startup definition) to DPIIT on 10th Jan 2022

Click here to view the other crucial representations and updates for the month of November. In case you have any enquiries, please write to us at advocacy@ivca.in."

IVCA in the News

IVCA and its members received wide global media coverage in January 2022 with 16 coverage coming across print, television and online media.

Indian women are storming the
gates of the investor
'boys club'

AlJAZEERA

PE/VC deal value
touched $77 bn in 2021;
exits hit a peak at $43 bn

Live Mint

Union Budget 2022-23:
Startups seek a reset in
tax regime

The Economic Times | CNBC TV-18

 
Click here to view other media coverages from the month of January.
 

Member's Speak


Special situation funds: an attempt to revolutionalize
stressed assets space

- Dibya Behera, Shivam Ahuja
and Arjun Gupta,
Nishith Desai Associates -

Read more

India's electric revolution:
the track to
transition

- Swathy Ramanath, Partner
Energy, Infrastructure and Resources,
Mergers and Acquisitions, Khaitan & Co. -

Read more

New Members

IVCA welcome its new members. Click here to view our Member Spotlight to know more about our new members.

Click here to view all IVCA members.

 

Get in Touch!

 
 
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