Chartered Logistics' subsidiary gets GIFT City finance co. approval
Chartered Logistics Ltd's wholly-owned subsidiary, Chartered Comcare IFSC Limited, has received a Certificate of Registration from the International Financial Services Centres Authority (IFSCA) to commence business as a Finance Company in Gujarat International Finance Tec-city (GIFT), IFSC. Concurrently, GIFT SEZ LTD has issued a Letter of Approval (Form G) for establishing a unit in the SEZ to operate as a ship leasing entity under the IFSCA Finance Company Regulations 2021. This dual approval allows the subsidiary to begin its authorized operations. The registration is contingent upon adherence to several conditions, including immediate intimation of operations, displaying the certificate, deploying adequate resources, informing of material changes, and complying with all applicable IFSCA regulations and fee structures.
Key Highlights
- Chartered Comcare IFSC Ltd received IFSCA registration as a Finance Company.
- GIFT SEZ LTD approved setting up a unit for ship leasing operations.
- The subsidiary will operate in Gujarat International Finance Tec-city (GIFT), IFSC.
- Approvals enable commencement of new finance business in a special economic zone.
- Operations are subject to strict compliance with IFSCA regulations.