The eagerly awaited new consolidated FDI policy was released by the Department of Industrial Policy & Promotion (DIPP) on 31 March. We round up the major highlights of this document, which is commonly known as circular 1 of 2011.
Read MoreOn 9 February the Insurance Regulatory and Development Authority (IRDA) released an exposure draft of an order on Schemes of Arrangement and Transfers of Non-Life Insurance Business. In it the Indian insurance sector regulator sets out directions intended to cover all types of transfers of general insurance business including specifically, court-driven schemes of arrangements and amalgamations of general insurers under the Companies Act, 1956.
Read MoreIn recent times, one of the most hotly debated provisions in agreements between Indian and US partners has been the “FCPA clause”. It is not unusual to see this innocuous boiler plate clause in US drafts bring negotiations to a halt due to the discomfort of Indian parties to contractually agree to the high standard set out under the US Foreign Corrupt Practices Act (FCPA).
Read MoreInitial public offerings or IPOs in the Indian insurance sector have garnered much interest over the last couple of years. The spark that ignited this interest can be traced to Reliance Life Insurance Company Limited’s much publicized attempt to launch an IPO, which met with stern resistance from the Ministry of Finance and the Indian insurance sector regulator, the Insurance Regulatory and Development Authority (IRDA).
Read MoreTrue to its word, the Department of Industrial Policy and Promotion ushered in the second half of the financial year with a new edition of the consolidated foreign direct investment (FDI) policy in India – Circular 2 of 2010. The document appears to be a concentrated effort at streamlining regulations and also providing clarity to foreign investors on the framework for investments.
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