Articles and Updates

• Abhishek Saxena and Aashna Kothiyal - 20-11-2019

On 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.

• Sawant Singh and Aditya Bhargava - 14-11-2019

Until recently, proceeds of external commercial borrowings (ECB) were not allowed to be used for working capital or general corporate purposes, or for the repayment of rupee loans except where an ECB with a minimum average maturity of five years was obtained from a foreign equity holder. ECBs for on-lending for such purposes was also not permitted by the ECB directions.

• Sawant Singh and Aditya Bhargava - 14-11-2019

In June 2018, in what might have been considered a period of relative stability (given the events that transpired thereafter), the Reserve Bank of India (RBI), in its statement on developmental and regulatory policies, proposed the issuance of directions that would prevent abuse in markets regulated by the RBI.

• Sawant Singh and Aditya Bhargava - 14-11-2019

The Reserve Bank of India's (RBI) statement on developmental and regulatory policies for December proposed "rationalizing" the external commercial borrowing (ECB) framework "with a view to improving the ease of doing business". While the statement served as a forewarning, no draft regulations were placed on the RBI's website for public comments.

• Sawant Singh and Aditya Bhargava - 14-11-2019

The government and the financial sector regulators (Reserve Bank of Indian (RBI) and the Securities and Exchange Board of Indian (SEBI)) has brought in various measures to ease investment and related rules for foreign portfolio investors (FPIs).