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Reserve Bank of India liberalizes external commercial borrowing norms on end use provisions

by Majmudar & Partners | Aug 7, 2019 | Banking and Finance, Foreign Investment

Introduction Earlier this year, the Reserve Bank of India (the “RBI”) had revised the framework on external commercial borrowings (“ECBs”), and put in place a new and simplified framework for Indian entities to borrow monies from foreign lenders. (Read our update on...

Sexual harassment law update: Mandatory registration of the internal commitment for establishments located in Telangana and Mumbai

by Majmudar & Partners | Jul 16, 2019 | Employment Law

Introduction In India, the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (the “Harassment Act”) and the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Rules, 2013 (the “Harassment Rules”)...

India’s Budget 2019-20: key highlights

by Majmudar & Partners | Jul 12, 2019 | Policy & Governance Updates, Tax

Introduction India’s Union Budget (the “Budget”) was announced on July 5, 2019, and the Finance Bill, 2019 (the “Finance Bill”) was tabled in Parliament. The Finance Bill will be discussed in Parliament before its enactment, and therefore, it is likely that the...

India’s Supreme Court reiterates the tests to determine whether contract labourers can be employees

by Majmudar & Partners | Jun 24, 2019 | Employment Law

In a recent ruling, India’s Supreme Court (the “SC”) reiterated the basic tests to be applied in determining whether contract labourers can be classified as direct employees.  This update discusses the SC ruling and analyzes the precautions that employers should adopt...

RBI revises framework for resolution of stressed assets

by Majmudar & Partners | Jun 12, 2019 | Insolvency and Restructuring

On April 2, 2019, India’s Supreme Court (the “SC”) quashed the Reserve Bank of India’s (the “RBI”) consolidated framework for resolution of stressed assets (the “2018 Framework”) as being ultra vires the RBI’s powers under the Banking Regulation Act, 1949 (the...
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