by Majmudar & Partners | Dec 16, 2015 | Banking and Finance, Corporate/M&A
Introduction On November 30, 2015, the Reserve Bank of India (the “RBI”) revamped the regime governing external commercial borrowings (“ECBs”) by Indian companies and introduced a revised framework (the “Revised Framework”). The Revised Framework significantly relaxes...
by Majmudar & Partners | Dec 14, 2015 | Real Property
Introduction The real estate sector in India forms a critical component of the Indian economy and contributes 5-6% to the GDP. Although this sector has stagnated over the last couple of years, it has started to show a turnaround, and growth is expected on the back of...
by Majmudar & Partners | Dec 4, 2015 | Foreign Investment
Introduction India stands committed to having a Foreign Direct Investment (“FDI”) regime that is investor friendly and promotes foreign investment for overall economic growth. Since the Modi government came to power in June 2014, many FDI policy reforms were made in...
by Majmudar & Partners | Nov 5, 2015 | Disputes and Arbitration
Sasan Power Limited v. North America Coal Corporation The often debated question of whether two (or more) Indian parties can opt for a foreign seat of arbitration has surfaced again. The Madhya Pradesh High Court (the “MP HC”) has, in the case of Sasan Power Limited...
by Majmudar & Partners | Oct 19, 2015 | Tax
Recently, in the case of Wipro Limited (the “Taxpayer”), the Karnataka High Court (the “KHC”) has held that a foreign tax credit can be claimed against Indian income under the provisions of section 90(1)(a)(i) of the Income-tax Act, 1961 (the “Act”), irrespective of...
