Securities and Exchange Board of India vide Circular dated 13th May 2022, issued Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC.

SEBI Circular link: https://www.sebi.gov.in/legal/circulars/may-2022/guidelines-for-seeking-noc-by-stock-brokers-clearing-members-for-setting-up-wholly-owned-subsidiaries-step-down-subsidiaries-joint-ventures-in-gift-ifsc_58918.html