IFSCA-LPRA/9/2024-Legal and Regulatory Affairs dated August 10, 2026 directs all Regulated Entities in the IFSC to continuously hold a valid and subsisting Letter of Approval (LoA) under the Special Economic Zones Act, 2005 and applicable Regulatory Instrument(s). An LoA is a condition precedent for obtaining registration, license, recognition, authorisation, permission, approval or equivalent Regulatory Instruments and undertaking permissible IFSC activities. Entities are directed not to undertake business without valid LoA and applicable Regulatory Instrument(s). It has been observed that certain Regulated Entities continue to undertake business activities in the IFSC without holding valid and subsisting –a. LoA; and/orb. applicable Regulatory Instrument(s). In view of the foregoing, it is hereby directed that all Regulated Entities shall, at all times, ensure that they –a. hold valid and subsisting LoA and applicable Regulatory Instrument(s); andb. do not undertake any business activities without holding valid and subsisting LoA and applicable Regulatory Instrument(s).