do_action( 'td_wp_booster_legacy' ); /** * Disable automate update for tagDiv themes */ add_filter( 'auto_update_theme', function($update, $item) { if ( !empty($item) && is_object( $item) && !empty($item->theme) && ( 'Newspaper' === $item->theme || 'Newsmag' === $item->theme)) { return false; } return $update; }, 999, 2); /** * Admin notices */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/tagdiv-admin-notices.php' ); /** * The global state of the theme. All globals are here */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/tagdiv-global.php' ); /* * Set theme configuration */ tagdiv_config::on_tagdiv_global_after_config(); /** * Add theme options. */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/tagdiv-options.php' ); /** * Add theme utility. */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/tagdiv-util.php' ); /** * Add theme http request ability. */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/tagdiv-log.php' ); /** * Add theme http request ability. */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/tagdiv-remote-http.php' ); /** * ---------------------------------------------------------------------------- * Redirect to Welcome page on theme activation */ if( !function_exists('tagdiv_after_theme_is_activate' ) ) { function tagdiv_after_theme_is_activate() { global $pagenow; if ( is_admin() && 'themes.php' == $pagenow && isset( $_GET['activated'] ) ) { wp_redirect( admin_url( 'admin.php?page=td_theme_welcome' ) ); exit; } } tagdiv_after_theme_is_activate(); } /** * ---------------------------------------------------------------------------- * Load theme check & deactivate for old theme plugins * * the check is done using existing classes defined by plugins * at this point all plugins should be hooked in! */ require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/plugins/class-tagdiv-old-plugins-deactivation.php' ); require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/plugins/class-tagdiv-current-plugins-deactivation.php' ); /** * ---------------------------------------------------------------------------- * Theme Resources */ /** * Enqueue front styles. */ function tagdiv_theme_css() { if ( TD_DEBUG_USE_LESS ) { wp_enqueue_style( 'td-theme', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=style.css_v2', '', TD_THEME_VERSION, 'all' ); // bbPress style if ( class_exists( 'bbPress', false ) ) { wp_enqueue_style( 'td-theme-bbpress', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=bbpress', array(), wp_get_theme()->get( 'Version' ) ); } // WooCommerce style if( TD_THEME_NAME == 'Newsmag' || ( TD_THEME_NAME == 'Newspaper' && !defined( 'TD_WOO' ) ) ) { if ( class_exists( 'WooCommerce', false ) ) { wp_enqueue_style( 'td-theme-woo', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=woocommerce', array(), wp_get_theme()->get( 'Version' ) ); } } // Buddypress if ( class_exists( 'Buddypress', false ) ) { wp_enqueue_style( 'td-theme-buddypress', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=buddypress', array(), wp_get_theme()->get( 'Version' ) ); } } else { wp_enqueue_style( 'td-theme', get_stylesheet_uri(), array(), wp_get_theme()->get( 'Version' ) ); // bbPress style if ( class_exists( 'bbPress', false ) ) { wp_enqueue_style( 'td-theme-bbpress', TAGDIV_ROOT . '/style-bbpress.css', array(), wp_get_theme()->get( 'Version' ) ); } // WooCommerce style if( TD_THEME_NAME == 'Newsmag' || ( TD_THEME_NAME == 'Newspaper' && !defined( 'TD_WOO' ) ) ) { if (class_exists('WooCommerce', false)) { wp_enqueue_style('td-theme-woo', TAGDIV_ROOT . '/style-woocommerce.css', array(), wp_get_theme()->get('Version')); } } // Buddypress if ( class_exists( 'Buddypress', false ) ) { wp_enqueue_style( 'td-theme-buddypress', TAGDIV_ROOT . '/style-buddypress.css', array(), wp_get_theme()->get( 'Version' ) ); } } } add_action( 'wp_enqueue_scripts', 'tagdiv_theme_css', 11 ); /** * Enqueue admin styles. */ function tagdiv_theme_admin_css() { if ( TD_DEPLOY_MODE == 'dev' ) { wp_enqueue_style('td-theme-admin', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=wp-admin.css', false, TD_THEME_VERSION, 'all' ); if ('Newspaper' == TD_THEME_NAME) { wp_enqueue_style( 'font-newspaper', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=font-newspaper', false, TD_THEME_VERSION, 'all' ); } } else { wp_enqueue_style('td-theme-admin', TAGDIV_ROOT . '/includes/wp-booster/wp-admin/css/wp-admin.css', false, TD_THEME_VERSION, 'all' ); if ('Newspaper' == TD_THEME_NAME) { wp_enqueue_style('font-newspaper', TAGDIV_ROOT . '/font-newspaper.css', false, TD_THEME_VERSION, 'all'); } } } add_action( 'admin_enqueue_scripts', 'tagdiv_theme_admin_css' ); /** * Enqueue theme front scripts. */ if( !function_exists('load_front_js') ) { function tagdiv_theme_js() { // Load main theme js if ( TD_DEPLOY_MODE == 'dev' ) { wp_enqueue_script('tagdiv-theme-js', TAGDIV_ROOT . '/includes/js/tagdiv-theme.js', array('jquery'), TD_THEME_VERSION, true); } else { wp_enqueue_script('tagdiv-theme-js', TAGDIV_ROOT . '/includes/js/tagdiv-theme.min.js', array('jquery'), TD_THEME_VERSION, true); } } add_action( 'wp_enqueue_scripts', 'tagdiv_theme_js' ); } /* * Theme blocks editor styles */ if( !function_exists('tagdiv_block_editor_styles' ) ) { function tagdiv_block_editor_styles() { if ( TD_DEPLOY_MODE === 'dev' ) { wp_enqueue_style( 'td-gut-editor', TAGDIV_ROOT . '/tagdiv-less-style.css.php?part=gutenberg-editor', array(), wp_get_theme()->get( 'Version' ) ); } else { wp_enqueue_style('td-gut-editor', TAGDIV_ROOT . '/gutenberg-editor.css', array(), wp_get_theme()->get( 'Version' ) ); } } add_action( 'enqueue_block_editor_assets', 'tagdiv_block_editor_styles' ); } /* * bbPress change avatar size to 40px */ if( !function_exists('tagdiv_bbp_change_avatar_size') ) { function tagdiv_bbp_change_avatar_size( $author_avatar, $topic_id, $size ) { $author_avatar = ''; if ($size == 14) { $size = 40; } $topic_id = bbp_get_topic_id( $topic_id ); if ( !empty( $topic_id ) ) { if ( !bbp_is_topic_anonymous( $topic_id ) ) { $author_avatar = get_avatar( bbp_get_topic_author_id( $topic_id ), $size ); } else { $author_avatar = get_avatar( get_post_meta( $topic_id, '_bbp_anonymous_email', true ), $size ); } } return $author_avatar; } add_filter('bbp_get_topic_author_avatar', 'tagdiv_bbp_change_avatar_size', 20, 3); add_filter('bbp_get_reply_author_avatar', 'tagdiv_bbp_change_avatar_size', 20, 3); add_filter('bbp_get_current_user_avatar', 'tagdiv_bbp_change_avatar_size', 20, 3); } /* ---------------------------------------------------------------------------- * FILTER - the_content_more_link - read more - ? */ if ( ! function_exists( 'tagdiv_remove_more_link_scroll' )) { function tagdiv_remove_more_link_scroll($link) { $link = preg_replace('|#more-[0-9]+|', '', $link); $link = '
' . $link . '
'; return $link; } add_filter('the_content_more_link', 'tagdiv_remove_more_link_scroll'); } /** * get theme versions and set the transient */ if ( ! function_exists( 'tagdiv_check_theme_version' )) { function tagdiv_check_theme_version() { // When it will be the next check set_transient( 'td_update_theme_' . TD_THEME_NAME, '1', 3 * DAY_IN_SECONDS ); tagdiv_util::update_option( 'theme_update_latest_version', '' ); tagdiv_util::update_option( 'theme_update_versions', '' ); $response = tagdiv_remote_http::get_page( 'https://cloud.tagdiv.com/wp-json/wp/v2/media?search=.zip' ); if ( false !== $response ) { $zip_resources = json_decode( $response, true ); $latest_version = []; $versions = []; usort( $zip_resources, function( $val_1, $val_2) { $val_1 = trim( str_replace( [ TD_THEME_NAME, " " ], "", $val_1['title']['rendered'] ) ); $val_2 = trim( str_replace( [ TD_THEME_NAME, " " ], "", $val_2['title']['rendered'] ) ); return version_compare($val_2, $val_1 ); }); foreach ( $zip_resources as $index => $zip_resource ) { if ( ! empty( $zip_resource['title']['rendered'] ) && ! empty( $zip_resource['source_url'] ) && false !== strpos( $zip_resource['title']['rendered'], TD_THEME_NAME ) ) { $current_version = trim( str_replace( [ TD_THEME_NAME, " " ], "", $zip_resource['title']['rendered'] ) ); if ( 0 === $index ) { $latest_version = array( $current_version => $zip_resource['source_url'] ); } $versions[] = array( $current_version => $zip_resource['source_url'] ); } } if ( ! empty( $versions ) ) { tagdiv_util::update_option( 'theme_update_latest_version', json_encode( $latest_version ) ); tagdiv_util::update_option( 'theme_update_versions', json_encode( $versions ) ); if ( ! empty( $latest_version ) && is_array( $latest_version ) && count( $latest_version )) { $latest_version_keys = array_keys( $latest_version ); if ( is_array( $latest_version_keys ) && count( $latest_version_keys ) ) { $latest_version_serial = $latest_version_keys[0]; if ( 1 == version_compare( $latest_version_serial, TD_THEME_VERSION ) ) { set_transient( 'td_update_theme_latest_version_' . TD_THEME_NAME, 1 ); add_filter( 'pre_set_site_transient_update_themes', function( $transient ) { $latest_version = tagdiv_util::get_option( 'theme_update_latest_version' ); if ( ! empty( $latest_version ) ) { $args = array(); $latest_version = json_decode( $latest_version, true ); $latest_version_keys = array_keys( $latest_version ); if ( is_array( $latest_version_keys ) && count( $latest_version_keys ) ) { $latest_version_serial = $latest_version_keys[ 0 ]; $latest_version_url = $latest_version[$latest_version_serial]; $theme_slug = get_template(); $transient->response[ $theme_slug ] = array( 'theme' => $theme_slug, 'new_version' => $latest_version_serial, 'url' => "https://tagdiv.com/" . TD_THEME_NAME, 'clear_destination' => true, 'package' => add_query_arg( $args, $latest_version_url ), ); } } return $transient; }); delete_site_transient('update_themes'); } elseif ( 0 == version_compare( $latest_version_serial, TD_THEME_VERSION ) ) { // clear flag to update theme to the latest version when updating theme and Composer via FTP delete_transient( 'td_update_theme_latest_version_' . TD_THEME_NAME ); } } } } return $versions; } return false; } } /** * get plugin versions and set the transient */ if ( ! function_exists( 'tagdiv_check_plugin_subscription_version' )) { function tagdiv_check_plugin_subscription_version() { if ( is_plugin_active('td-subscription/td-subscription.php') && defined('TD_SUBSCRIPTION_VERSION')) { // When it will be the next check set_transient( 'td_update_plugin_subscription', '1', 3 * DAY_IN_SECONDS ); tagdiv_util::update_option( 'plugin_subscription_update_latest_version', '' ); $response = tagdiv_remote_http::get_page( 'https://cloud.tagdiv.com/wp-json/wp/v2/media?search=.zip' ); if ( false !== $response ) { $zip_resources = json_decode( $response, true ); $latest_version = []; $versions = []; usort( $zip_resources, function ( $val_1, $val_2 ) { $val_1 = trim( str_replace( [ "TD_SUBSCRIPTION", " " ], "", $val_1[ 'title' ][ 'rendered' ] ) ); $val_2 = trim( str_replace( [ "TD_SUBSCRIPTION", " " ], "", $val_2[ 'title' ][ 'rendered' ] ) ); return version_compare( $val_2, $val_1 ); } ); foreach ( $zip_resources as $index => $zip_resource ) { if ( ! empty( $zip_resource[ 'title' ][ 'rendered' ] ) && ! empty( $zip_resource[ 'source_url' ] ) && false !== strpos( $zip_resource[ 'title' ][ 'rendered' ], "TD_SUBSCRIPTION" ) ) { $current_version = trim( str_replace( [ "TD_SUBSCRIPTION", " " ], "", $zip_resource[ 'title' ][ 'rendered' ] ) ); if ( 0 === $index ) { $latest_version = array( $current_version => $zip_resource[ 'source_url' ] ); } $versions[] = array( $current_version => $zip_resource[ 'source_url' ] ); } } if ( ! empty( $versions ) ) { tagdiv_util::update_option( 'plugin_subscription_update_latest_version', json_encode( $latest_version ) ); if ( ! empty( $latest_version ) && is_array( $latest_version ) && count( $latest_version ) ) { $latest_version_keys = array_keys( $latest_version ); if ( is_array( $latest_version_keys ) && count( $latest_version_keys ) ) { $latest_version_serial = $latest_version_keys[ 0 ]; if ( 1 == version_compare( $latest_version_serial, TD_SUBSCRIPTION_VERSION ) ) { set_transient( 'td_update_plugin_subscription_latest_version', 1 ); add_filter( 'pre_set_site_transient_update_plugins', function ( $transient ) { $latest_version = tagdiv_util::get_option( 'plugin_subscription_update_latest_version' ); if ( ! empty( $latest_version ) ) { $args = array(); $latest_version = json_decode( $latest_version, true ); $latest_version_keys = array_keys( $latest_version ); if ( is_array( $latest_version_keys ) && count( $latest_version_keys ) ) { $latest_version_serial = $latest_version_keys[ 0 ]; $latest_version_url = $latest_version[ $latest_version_serial ]; $plugin_id = 'td-subscription/td-subscription.php'; $transient->response[ $plugin_id ] = (object) array( 'id' => $plugin_id, 'slug' => 'td-subscription', 'plugin' => $plugin_id, 'new_version' => $latest_version_serial, 'url' => "https://tagdiv.com/td_subscription", 'package' => add_query_arg( $args, $latest_version_url ), ); } } return $transient; } ); delete_site_transient( 'update_plugins' ); } elseif ( 0 == version_compare( $latest_version_serial, TD_SUBSCRIPTION_VERSION ) ) { // clear flag to update theme to the latest version when updating theme and Composer via FTP delete_transient( 'td_update_plugin_subscription_latest_version' ); } } } } return $versions; } } return false; } } /* ---------------------------------------------------------------------------- * Admin */ if ( is_admin() ) { /** * Theme plugins. */ require_once TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/plugins/class-tgm-plugin-activation.php'; add_action('tgmpa_register', 'tagdiv_required_plugins'); if( !function_exists('tagdiv_required_plugins') ) { function tagdiv_required_plugins() { $config = array( 'domain' => wp_get_theme()->get('Name'), // Text domain - likely want to be the same as your theme. 'default_path' => '', // Default absolute path to pre-packaged plugins //'parent_menu_slug' => 'themes.php', // DEPRECATED from v2.4.0 - Default parent menu slug //'parent_url_slug' => 'themes.php', // DEPRECATED from v2.4.0 - Default parent URL slug 'parent_slug' => 'themes.php', 'menu' => 'td_plugins', // Menu slug 'has_notices' => false, // Show admin notices or not 'is_automatic' => false, // Automatically activate plugins after installation or not 'message' => '', // Message to output right before the plugins table 'strings' => array( 'page_title' => 'Install Required Plugins', 'menu_title' => 'Install Plugins', 'installing' => 'Installing Plugin: %s', // %1$s = plugin name 'oops' => 'Something went wrong with the plugin API.', 'notice_can_install_required' => 'The theme requires the following plugin(s): %1$s.', 'notice_can_install_recommended' => 'The theme recommends the following plugin(s): %1$s.', 'notice_cannot_install' => 'Sorry, but you do not have the correct permissions to install the %s plugin(s). Contact the administrator of this site for help on getting the plugin installed.', 'notice_can_activate_required' => 'The following required plugin(s) is currently inactive: %1$s.', 'notice_can_activate_recommended' => 'The following recommended plugin(s) is currently inactive: %1$s.', 'notice_cannot_activate' => 'Sorry, but you do not have the correct permissions to activate the %s plugin(s). Contact the administrator of this site for help on getting the plugin activated.', 'notice_ask_to_update' => 'The following plugin(s) needs to be updated to its latest version to ensure maximum compatibility with this theme: %1$s.', 'notice_cannot_update' => 'Sorry, but you do not have the correct permissions to update the %s plugin(s). Contact the administrator of this site for help on getting the plugin updated.', 'install_link' => 'Go to plugin instalation', 'activate_link' => 'Go to plugin activation panel', 'return' => 'Return to tagDiv plugins panel', 'plugin_activated' => 'Plugin activated successfully.', 'complete' => 'All plugins installed and activated successfully. %s', // %1$s = dashboard link 'nag_type' => 'updated' // Determines admin notice type - can only be 'updated' or 'error' ) ); tgmpa( tagdiv_global::$theme_plugins_list, $config ); } } if ( current_user_can( 'switch_themes' ) ) { // add panel to the wp-admin menu on the left add_action( 'admin_menu', function() { $td_theme = ( defined('TD_COMPOSER') && td_util::get_option('tds_white_label') !== '' ) ? td_util::get_wl_val('tds_wl_theme_name', TD_THEME_NAME) : TD_THEME_NAME; /* wp doc: add_menu_page( $page_title, $menu_title, $capability, $menu_slug, $function, $icon_url, $position ); */ add_menu_page('Theme panel', $td_theme, "edit_posts", "td_theme_welcome", function (){ require_once TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/tagdiv-view-welcome.php'; }, null, 3); if ( current_user_can( 'activate_plugins' ) ) { add_submenu_page("td_theme_welcome", 'Plugins', 'Plugins', 'edit_posts', 'td_theme_plugins', function (){ require_once TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/tagdiv-view-theme-plugins.php'; } ); } $is_white_label = defined('TD_COMPOSER') ? td_util::get_option('tds_white_label') : 'no'; if ('enabled' !== $is_white_label) { add_submenu_page("td_theme_welcome", 'Support', 'Support', 'edit_posts', 'td_theme_support', function () { require_once TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/tagdiv-view-support.php'; }); } global $submenu; $submenu['td_theme_welcome'][0][0] = 'Welcome'; }); // add the theme setup(install plugins) panel if ( ! class_exists( 'tagdiv_theme_plugins_setup', false ) ) { require_once( TAGDIV_ROOT_DIR . '/includes/wp-booster/wp-admin/plugins/class-tagdiv-theme-plugins-setup.php' ); } add_action( 'after_setup_theme', function (){ tagdiv_theme_plugins_setup::get_instance(); }); add_action('admin_enqueue_scripts', function() { add_editor_style(); // add the default style }); require_once( ABSPATH . 'wp-admin/includes/file.php' ); WP_Filesystem(); } } SEBI mulls higher NRI investment for FPIs in IFSC – Modern Business Times
Home News SEBI mulls higher NRI investment for FPIs in IFSC

SEBI mulls higher NRI investment for FPIs in IFSC

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SEBI mulls higher NRI investment for FPIs in IFSC

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SEBI floated a consultation paper on Friday that seeks to allow higher participation of non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) into foreign portfolio investors (FPIs) based out of International Financial Services Centres (IFSCs) in India.

NRIs and OCIs may be allowed to contribute 50 per cent or more to the FPI’s corpus. Such investors have to provide granular details of all entities holding any ownership, economic interest or control in the FPI if the latter holds more than 33 per cent of its Indian equity AUM in a single Indian corporate group or if it (along with its investor group) holds more than ₹25,000 crore of equity AUM in the Indian market.

The contribution of a single NRI or OCI or resident Indian will be below 25 per cent of the total contribution in the corpus of the applicant.

NRIs and OCIs identified as beneficial owners of the FPI will have to provide passport number and OCI number respectively to their designated depository participants.

Boost to GIFT IFSC

SEBI said that IFSCA has a better information sharing mechanism with SEBI compared to other international regulators and will be in a better position to oversee structures having predominant NRI/OCI ownership.

“The relaxation for NRI/OCI investment in FPIs set-up in IFSC will give a big boost to GIFT IFSC as an offshore financial jurisdiction. Such relaxation should also be considered for resident individuals investing in alternative investment funds based out of IFSC and investing in India,” said Yashesh Ashar, partner, Illume Advisory.

There has been an increasing demand for channelling more NRI/OCI investments in the Indian markets through the FPI route. Such entities currently have the option of using the PIS, or portfolio investment scheme route, but this restricts investment through overseas pooled structures.

Restrictions on contribution by NRIs/ OCIs to the FPI corpus increases compliance burden and cost on the FPI. For instance, a redemption request from non-NRI/OCI investors may raise the percentage contribution by NRIs/OCIs in the FPI corpus, necessitating forced redemption or arranging for fresh non-NRI/OCI investments.

Higher NRI and OCI contribution could lead to money laundering, circular trading, and flouting of minimum public shareholding and takeover norms. The dangers of allowing access to such entities were highlighted by the joint committee report (JPC) on the stock market scam presented to the Lok Sabha on December 19, 2002.

“The concerns of market manipulation by NRI/OCI owned entities stated in the JPC report exist even today due to possible proximity of persons of Indian origin with Indian companies/promoters. At the same time, it is recognized that further investments in the Indian securities markets can be facilitated by channelling such investments into the country through FPIs that are professionally run,” the consultation paper said.



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