On August 9, 2021, the lower house of the Indian Parliament passed the Limited Liability Partnership (Amendment) Bill, 2021 (LLP Bill). Once the LLP Bill receives the assent of the President, it can be notified. The LLP Bill is the first amendment to the Limited Liability Partnership Act, 2008 (LLP Act) since its enactment.
Majmudar & Partners has put together an analysis of these amendments.
Click here to download the full presentation.
Download .pdf Background The former Chief Executive Officer (the “Complainant”) of Safal Life Science (P) Ltd. (the “Company”) filed a criminal complaint under Sections 420 (cheating), 406 (criminal breach of trust), and 34 (acts done by several persons with common...
Download .pdf Background Foreign companies in India are often subjected to a tax audit scrutiny by the Indian tax authorities to check if they have a Permanent Establishment (“PE”) in India and what will be the profits attributable to such a PE. The issue of...
Download .pdf The Competition (Amendment) Act, 2023 (the “2023 Amendment”) was introduced on April 11, 2023, to amend the Competition Act, 2002 (the “Act”) and, inter alia, establish a new threshold for assessing transactions, known as the Deal Value Threshold (the...
Download.pdf The Indian government has recently notified the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (the “Amendment Rules”) to amend the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (the “NDI Rules”). This...
Download .pdf Overview Pursuant to a favourable tax ruling for Tiger Global Eight Holdings in the Policybazar case, in the Flipkart Singapore case involving Tiger Global International Holdings (the “Taxpayer”), the Delhi High Court (the “DHC”) held that the order...
Download .pdf Recently, the Reserve Bank of India (the “RBI”) introduced new comprehensive guidelines for peer-to-peer (“P2P”) lending platforms (the “Guidelines”) in the Master Direction - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank)...