IFSCA Issues Process for Finance Companies to Report RE Changes

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  • Last Updated on 3 July, 2025

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IFSCA guidance for regulated entities

Circular No. IFSCA-FCR0FCR/5/2025-Banking/01, Dated 01.07.2025

The International Financial Services Centres Authority (IFSCA) has issued a Guidance Note to streamline and clarify the process for submitting requests related to changes that require either prior approval or intimation to the Authority.

1. Scope of the Guidance Note

The Guidance Note provides detailed directions regarding the process and documentation to be followed by regulated entities for submitting requests in respect of:

  • Change in Management – Any alteration in key managerial personnel or governing body members must be reported or approved as per the classification provided.
  • Change in Name – Entities proposing a change in their registered name must follow the laid-out approval or intimation procedure.
  • Change in Activities – If an entity proposes to modify, expand, or curtail its business activities, the change must be duly reported or approved depending on regulatory classification.
  • Voluntary Surrender of Registration – Entities intending to cease operations and surrender their registration must comply with the procedures specified in the note.

2. Objective of the Guidance

The Guidance Note aims to:

  • Ensure regulatory transparency
  • Promote efficient compliance mechanisms
  • Clarify documentation requirements
  • Enable timely processing of requests

It is part of IFSCA’s efforts to foster a well-regulated and orderly functioning financial ecosystem within India’s International Financial Services Centre (IFSC).

3. Effective Date

The provisions of this circular have come into force with immediate effect, and all concerned entities are expected to adhere to the guidance laid down while making submissions to IFSCA.

4. Implications for Regulated Entities

Entities regulated by IFSCA must:

  • Review internal governance and compliance systems to align with the new guidance
  • Prepare and maintain necessary documentation for all proposed changes
  • Liaise with IFSCA proactively for approvals or intimations as required

Failure to comply with the procedural requirements could result in delays in processing or regulatory scrutiny.

Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied