#Budget2023 has proposed various direct and indirect tax proposals which impact different stakeholders. Read the summary on #UnionBudget2023 where our Partners Abhishek Saxena and Jatin Arora share key insights on key direct and indirect tax proposals.
Read MoreOur Bi-Monthly Tax Newsletter provides insight into key recent judgments, circulars, and notifications covering direct and indirect tax laws for the month of October & November.
Read MoreOur Bi-Monthly Tax Newsletter provides insight on recent judgments, circulars, notifications covering Direct and Indirect tax laws for the month of July and August.
Read MoreOur Bi-Monthly Tax Newsletter provides insight on recent judgments, circulars, notifications covering Direct and Indirect tax laws for the month of May and June.
Read MoreOur Bi-Monthly Tax Newsletter provides insight on recent judgments, circulars, notifications covering Direct and Indirect tax laws for the month of March and April.
Read MoreOur Bi-Monthly Tax Newsletter provides insight on recent judgments, circulars, notifications covering Direct and Indirect tax laws for the month of January and February.
Read MoreSummary of key tax proposals announced in the Union Budget 2022.
Read MoreOur partner Abhishek Saxena and associate Aashna Kothiyal discuss the application of the doctrine of frustration to resolution plans under the Insolvency and Bankruptcy Code, 2016.
Read MoreWhen news broke about Peoples Bank of China (PBOC) acquiring over 1% shareholding in one of India's largest housing finance company, the Housing Development Financial Corporation (HDFC), it caused a storm in the entire financial media and the business community. Alarm bells went off that Indian companies will become easy targets for acquisition by Chinese investors in the wake of sharp fall in the valuation of listed Indian companies because of COVID-19 pandemic.
Read MoreThis article provides a brief background leading up to the enactment of India’s current insolvency law, the Insolvency and Bankruptcy Code, 2016. It also discusses the most recent landmark judgment of the Supreme Court of India in Committee of Creditors of Essar Steel India Ltd v Satish Kumar Gupta & Ors Civil Appeal No 8766-67 of 2019 and analyses its significance for development of insolvency jurisprudence and will be a useful guide to international clients and law firms involved in insolvency proceedings in India.
Read MoreOur partner Abhishek Saxena and associate Aashna Kothiyal analyze the order passed by Hon'ble Bombay High Court in Rural Fairprice Wholesale Limited & Anr. v. IDBI Trusteeship Services Limited & Ors granting an injunction/stay against the sale of pledged shares taking note of the COVID-19 pandemic.
Read MoreOn 30th October, 2019 a writ petition was filed in the Delhi High Court seeking a ban on poker. It has been contended that poker is a game of chance and not skill as the player has no control over the cards dealt to him or her, and, therefore, playing it for real money amounts to gambling and is illegal. The Delhi High Court has sought a response from the Government and the Reserve Bank of India. This is the second such petition filed in the Delhi High Court within a few months.
Read MoreAn arbitration clause in an agreement, which is not stamped as per law, cannot be given effect if and until the agreement is duly stamped, i.e., full stamp duty in respect of such agreement as provided by law has been paid.
Read MoreThe effects of global warming and ever-rising pollution have brought an increased environmental consciousness among people globally. Various attempts have been made by governmental and non-governmental bodies to spread awareness about climate change and to control pollution. In India, use of fossil fuel-based energy resources, including in power generation, is one of the major reasons for pollution.
Read MoreThe Government of India has approved a scheme for grant of permanent residency status (PRS) to eligible foreign investors. The key features of the scheme have been mentioned in the press release issued by the Government of India (Press Release) but as the Press Release itself seems to suggest, further changes to immigration laws and foreign direct investment (FDI) policy will be required to give full effect to the scheme. This update briefly sets out key features of the scheme.
Read MoreForeign investment, comprising, amongst others, foreign direct investment (FDI) and portfolio investment, in India is regulated by the (Indian) Foreign Exchange Management Act, 1999 (FEMA). Additionally, the Government of India, from time to time, notifies its policy on FDI and prescribes the sectoral caps and other conditions for FDI (FDI Policy). The FDI Policy is adopted by the Reserve Bank of India (RBI), regulator for foreign exchange transactions, and notified under relevant regulations under FEMA (FEMA Regulations). These regulations are subject to sectoral guidelines issued by regulator/ministry of the relevant sector from time to time (Sectoral Regulations).
Read MoreForeign investment, comprising, amongst others, of foreign direct investment (FDI) and portfolio investment, in India is regulated by the (Indian) Foreign Exchange Management Act, 1999 (FEMA). Additionally, the Government of India, from time to time, notifies its policy on FDI and prescribes the sectoral caps and other conditions for FDI.
Read MoreThe Indian legal regime on insolvency and bankruptcy has long been criticised for being cumbersome, long drawn out, outdated, creditor unfriendly and fragmented across multiple pieces of legislation. The Indian Insolvency and Bankruptcy Code, 2016 (Code), which came into effect on May 28 2016, seeks to address the lacuna in the present regime and provide a consolidated framework for the insolvency of companies, limited and unlimited liability partnerships, and individuals.
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