by Majmudar & Partners | Jan 23, 2019 | Banking and Finance, Foreign Investment
The Reserve Bank of India (the “RBI”) has revised the external commercial borrowings (“ECB”) framework on a regular basis in a bid to make foreign borrowings a lucrative method of raising capital. On December 17, 2018, the RBI replaced the erstwhile regulations on...
by Majmudar & Partners | Jan 21, 2019 | Tax
Recently, the Delhi High Court (the “DHC”) upheld a judgement of the Delhi Bench of the Income-tax Appellate Tribunal (the “Delhi Tribunal”) in the case of GE Energy Parts, Inc. (the “Taxpayer”). The DHC held that the liaison office established by the Taxpayer in New...
by Majmudar & Partners | Jan 16, 2019 | Corporate/M&A
In 2013, India adopted a new company law regime under the Companies Act, 2013 (the “Act”) and the rules there under, which have been amended from time-to-time. This update discusses the changes introduced by the Companies (Amendment) Ordinance Act, 2018 (the...
by Majmudar & Partners | Dec 27, 2018 | Tax
Recent developments The Indian tax authorities have started invoking the general anti-avoidance rules (“GAAR”) under India’s Income-tax Act, 1961 (the “IT Act”). In the last twelve (12) months, tax notices have been issued to many Indian subsidiaries of foreign...
by Majmudar & Partners | Dec 14, 2018 | Competition
The Competition Act, 2002 (the “Act”) sets out the regime for anti-competitive practices and merger control in India. While the Competition Commission of India (the “CCI”) is a fairly young regulator, over the last few years, the jurisprudence on Indian competition...
