Chartered Logistics' IFSC Subsidiary Gets Green Light from IFSCA

Chartered Logistics Limited has announced that its subsidiary has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to commence business operations. This marks a significant milestone for the company's expansion into the IFSC ecosystem.The subsidiary, likely set up in GIFT City, India's first operational IFSC, is poised to leverage the unique regulatory environment and tax benefits offered in the zone. While specific details of the planned operations are yet to be disclosed, the approval opens doors for Chartered Logistics to engage in various financial services activities permitted under IFSCA regulations.The company is now in the process of obtaining final approvals from SEZ authorities, which is a standard procedure following IFSCA's in-principle nod. This development aligns with Chartered Logistics' strategy to diversify its service offerings and tap into new growth opportunities in the financial services sector.

Source: Chartered Logistics Ltd. Regulatory Filing