Compliance with India’s foreign investment regulations is now more critical than ever. The Enforcement Directorate has initiated a number of investigations, especially in the fintech, e-commerce and similar sectors, where the purpose of foreign investment is stated as information technology services but the money is channelled into restricted sectors. M&A and PE investments need to follow the substance over form principle in relation to use of funds. Please go through our PPT for more details.
Recent developments at Swiggy: Did investors block a bona fide push to ease FEMA compliance or thwart an opportunistic move to consolidate power?
Swiggy, India’s leading food delivery and quick commerce, company ran into some turbulence in its attempt to make certain corporate governance changes and convert to an Indian owned and controlled company under Indian foreign exchange regulations. Indian...