Following the Indian Supreme Court decision in March 2020 (see our update on the ruling here), under which the ban on cryptocurrencies was lifted, the Indian government brought out the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.
Although this bill was to be taken up for discussion in the winter session, it has been deferred due to representations made by the crypto industry.
Download .pdf The Ministry of Corporate Affairs (the “MCA”) has recently issued a public notice inviting comments on the draft Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025 (the “Draft Amendment Rules”). The Draft Amendment Rules...
Download .pdf Introduction As per Para 1 of Annexure 3 of India’s consolidated foreign direct investment policy, Indian companies are allowed to freely issue rights/ bonus shares to their existing non-resident shareholders, subject to adherence of sectoral caps and...
Download .pdf Introduction In March 2023, the Bar Council of India (the “BCI”) notified the Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022 (the “BCI Rules”) permitting foreign lawyers and law firms to...
Download .pdf Background In July 2024, India’s Finance Minister announced that a comprehensive review of the existing Income-tax Act, 1961 (the “IT Act”) would be undertaken with the intent to make the tax law simple and to minimize tax controversy. The Finance...
Download .pdf Late last year, the Indian government released a draft of the proposed Arbitration and Conciliation (Amendment) Bill, 2024 (the “Draft Amendment Bill”). The Draft Amendment Bill proposes to amend the Arbitration & Conciliation Act, 1996 (the...
Download .pdf India’s Union Budget (the “Budget”) was announced on February 1, 2025, and the Finance Bill, 2025 (the “Finance Bill”) was tabled in Parliament. The Finance Bill will be discussed in Parliament before its enactment, and it is likely that it will be...