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Bridging Borders: Platform Play to Integrate Global Fund Managers in GIFT IFSC?

Written by Niharika Rai & Divyanshi Srivastava. Introduction The International Financial Services Centres Authority (“IFSCA”) on July 24, 2025, introduced an amendment to the Fund Management Regulations, 2025. The amendment has introduced “Part D” in Chapter VI of the FM Regulations, aiming to facilitate a dedicated framework for Third-Party Fund Management Services (“TFMS”). The TFMS framework will facilitate a registered Fund Management Entity (“FME”), which is already set up and regulated in Gujarat International Finance Tech-City International Financial Services Centre (“GIFT IFSC”) to launch schemes that are managed by a third party. This framework is also known as “Platform Play”…

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Sinking Ships and Silent Casualties: Guarantors in the IBC Framework

Written by Khushi Patel and Dev Goyal. Introduction When a ship sinks, the captain goes down with the vessel while its passengers escape in lifeboats. However, India’s current insolvency framework seems to have inverted this maritime tradition. Corporate debtors who steer their enterprises onto financial rocks are often rescued by the ‘clean slate’ lifeboats of the Insolvency Bankruptcy Code (“IBC”), while personal guarantors remain chained to the sinking vessel, expected to go down with a ship they never commanded. This article contends that the IBC (Amendment) Bill 2025, while enhancing creditor recoveries, dangerously erodes the contractual and legal safeguards for…

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