SEBI’s ban resolves the illiquidity issue; nevertheless, it also produces new market deformity which includes regulatory arbitrage towards AIFs, uneven playing field, and scarcity of domestic capital India’s startup ecosystem.

Until refinements are made, mutual funds will remain on the sidelines of the pre-IPO market, limited to anchor allocations and public issues as India’s IPO boom continues unabated—while the question of whether protection has inadvertently become exclusion remains unresolved.

India’s aviation sector is at a defining moment as airlines like IndiGo aim of flying beyond domestic skies and venture into international markets. However, the current structure of ATF taxation imposes a disproportionate burden on airlines and restricts their ability to compete.