by Majmudar & Partners | Jul 31, 2015 | Tax
Background The provisions of section 90(2) of the Income-tax Act, 1961 (the “Act”) permit a non-resident to avail either the provisions of the Act or the Double Taxation Avoidance Agreement (the “DTAA”), whichever are more beneficial. There are various judicial...
by Majmudar & Partners | Jul 10, 2015 | Banking and Finance, Insolvency and Restructuring
Introduction To address various issues surrounding distressed assets in the banking system, on February 26, 2014, the Reserve Bank of India (the “RBI”) issued the Framework for Revitalising Distressed Assets in the Economy (the “Framework”). The Framework, inter alia,...
by Majmudar & Partners | Jul 2, 2015 | Corporate/M&A, Private Equity and Venture Capital
Introduction On June 5, 2015, the Ministry of Corporate Affairs, Government of India (the “MCA”) issued a notification (the “Notification”), which significantly reduces the compliance requirements for private companies under the Companies Act, 2013 (the “Act”). With...
by Majmudar & Partners | Jun 5, 2015 | Corporate/M&A
Introduction On August 29, 2013, the Companies Act, 2013 (the “2013 Act”) received the assent of the President of India. Since then, 282 sections of the 2013 Act have been brought into force in three (3) phases. Further, between March 27 and March 31, 2014,...
by Majmudar & Partners | May 21, 2015 | Corporate/M&A, Foreign Investment
Introduction On May 12, 2015, the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (the “DIPP”) issued the consolidated foreign direct investment policy circular of 2015 (the “FDI Policy 2015”). The circular on...
