NEWS & UPDATES
May 18, 2020

NEW PSE POLICY ANNOUNCED BY FINANCE MINISTER

In the last tranche of the economic relief package, India’s FM has opened up all sectors to private players. A new public sector enterprises (PSE) policy will list strategic and non-strategic sectors. Strategic sectors will have at least 1 PSE, although the maximum number of PSEs has been capped to 4. This move will lead…

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May 15, 2020

SEBI ANNOUNCES A HOST OF RELAXATIONS FOR LISTED COMPANIES

India’s securities regulator (SEBI) announced a host of relaxations for listed companies in the second week of May, including on procedural aspects such as mode of service of documents to shareholders. The SEBI has also directed stock exchanges not to penalize listed companies if they are unable to achieve the minimum public shareholding between March…

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BENEFITS ANNOUNCED FOR MSMEs BY FINANCE MINISTER

Following up on the PM’s speech on May 12, 2020, India’s Finance Minister announced certain benefits for micro, small and medium enterprises (MSMEs): Collateral free loans of up to 20% of the outstanding credit as on February 29, 2020, to be extended up to an aggregate amount of INR 3 trillion (US$39.8 billion). Subordinate debt…

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May 14, 2020

FINANCE MINISTER ANNOUNCES RELIEF PACKAGE FOR BUSINESSES

India’s Finance minister announced a relief package for businesses on May 14, 2020, easing tax compliance rules in a bid to help taxpayers cope with the fallout of the coronavirus pandemic. This includes- reduction in tax withholding rates (by 25% of the existing rate for all Indian residents) until March 31, 2021; extension of the…

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FINANCE MINISTER ANNOUNCES LIQUIDITY MEASURES FOR EMPLOYERS

On May 13, 2020,  India’s Finance Minister announced some liquidity measures for employers : The relief announced by the government in March, under which the government agreed to pay provident fund (social security) contributions on behalf of both, the employer and the employee, for establishments where 90% of the staff receives a salary below INR15,000…

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May 11, 2020

Benchmark Litigation 2020 – Asia-Pacific region

We are pleased to announce that our partner Neerav Merchant has been recognized as Litigation Star by Benchmark Litigation 2020 in the Asia-Pacific region, for his work in the areas of Intellectual Property, Dispute Resolution and Commercial and Transaction. Congratulations!

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May 7, 2020

NOTICE ISSUED BY MCA ON HOLDING OF ANNUAL GENERAL MEETING (AGM) for 2020

In view of the ongoing lockdown in India, the Ministry of Corporate Affairs (MCA) has permitted companies to hold annual general meetings through video conference for the calendar year 2020. The compliances for distribution of notice of the meeting, voting mechanism and payment of dividends have also been issued.  

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May 6, 2020

RUKSHAD DAVAR DISCUSSES THE IMPACT OF COVID-19 ON INDIAN ECONOMY, MEASURES TAKEN AND THE NEED FOR A RELIEF PACKAGE

Rukshad Davar, partner at Majmudar & Partners, shares his views with The Financial Express on: The impact of COVID-19 on the Indian economy. The measures introduced to alleviate the impact. The need for a financial relief package. Read the article here.

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April 29, 2020

INDIA BUSINESS LAW JOURNAL (IBLJ) 2020 INDIAN LAW FIRM AWARDS

We are delighted to share that Majmudar & Partners has been declared as an “Award Winning Law Firm” by India Business Law Journal (IBLJ) 2020 Indian Law Firm Awards. We have won awards in the following categories: Insurance & Reinsurance Labour & Employment

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April 28, 2020

RELAXATION IN REGULATION 24(i)(f) OF THE SEBI (BUY-BACK OF SECURITIES) REGULATIONS, 2018 DUE TO THE COVID-19 PANDEMIC

Under India’s securities law, public issues and rights issues have to be opened within 12 months of receipt of the approval from the Securities and Exchange Board of India (SEBI). On April 23, 2020, the SEBI extended the validity period of approvals which may have expired, or are due to expire, between March 1, 2020…

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