The Indian government is looking at putting in place a regulatory framework for SPACs in the statutes to aid the possible listing of Indian companies, The Times of India reports.
The Company Law Committee, which submitted its report on a fresh set of amendments to the Companies Act, has suggested introduction of enabling provisions in the law to list a SPAC on domestic or international exchanges.
The panel has gone on to suggest that the provisions allowing Indian companies to list directly on overseas exchanges should be operationalized. While parliament allowed the move, the revenue department has refused to address issues related to taxation. Read more.
