The Mumbai chapter of India's dedicated bankruptcy courts has approved the debt-recast plan for a bespoke manufacturer based on the outskirts of the city , marking the country's second successful resolution of sticky loans since the new recovery laws came into effect last year.
Read MoreFostering constructive partnership with the Indian private defense industry is considered not just a sound economic option but a strategic imperative to minimize dependence on imports and infuse self-sufficiency in defense manufacturing; however, only time will tell if the strategic partnership model has the desired effect
Read MoreThe interaction of domestic tax systems of different countries and the bilateral tax treaties amongst them, sometimes have led to unintended overlaps and gaps. Overlap happens when income is sought to be taxed by more than one jurisdiction resulting in double taxation, while gaps are manifested when income ends up not being taxed by any jurisdiction resulting in double non-taxation.
Read MoreThe interaction of domestic tax systems of different countries and the bilateral tax treaties amongst them, sometimes have led to unintended overlaps and gaps. Overlap happens when income is sought to be taxed by more than one jurisdiction resulting in double taxation, while gaps are manifested when income ends up not being taxed by any jurisdiction resulting in double non-taxation.
Read MoreRecent judgments passed by different benches of the National Company Law Tribunal (NCLT) across the country have given rise to fresh controversies surrounding the interpretation of the provisions of the Insolvency and Bankruptcy Code, 2016 (Code). Such controversies essentially revolve around the interpretation of the term "dispute" as defined under Section 5(6) of the Code. Decisions given by the Principal Bench (Delhi) and Mumbai Bench of the NCLT on claim applications filed by operational creditors under Section 9 of the Code are completely in contrast with each other and provide starkly opposite interpretations of the term "dispute."
Read More