Akil Hirani named among top 100 individual lawyers in Forbes India’s Legal Powerlist 2021

India – Insurance Update

Apr 5, 2023

The IRDAI has notified three regulations, which came into force on April 1, 2023, that are poised to grant insurers greater freedom in their organizational management and will have a material impact on insurers, insurance intermediaries and insurance agents. ...

India – Employment Law update

Mar 17, 2023

In a bid to woo new manufacturing businesses to the state of Karnataka, including the likes of Foxconn (which is Apple’s supplier), the state legislature passed the Factories (Karnataka Amendment) Bill, 2023 to amend the provisions of the Factories Act, 1948 (as...

India’s legal market opens up for foreign lawyers

Mar 15, 2023

The Bar Council of India (BCI) has, recently, permitted foreign lawyers to practice foreign law in India in non-litigious matters, subject to compliance with BCI’s registration guidelines. However, appearing in Indian courts, as also advising on real estate...

Akil Hirani quoted by IBLJ in an update on Alternative Investment Funds (AIFs) exit timelines

Mar 3, 2023

SEBI has sent out notices to several AIFs for failing to honour the timeline of funds specified in their offer documents. Akil Hirani, Managing Partner, was quoted by IBLJ on the topic. "While some degree of flexibility is needed, as markets are cyclical and...

Thrasio’s acquisition of Lifelong named in India Business Law Journal’s Deals of the Year 2022

Feb 21, 2023

We are pleased to announce that the firm’s role as buyer’s counsel representing Thrasio Holdings, Inc. (Thrasio) in its acquisition of a majority stake in Lifelong Online Retail Private Limited (Lifelong) has been named among the Deals of the Year 2022 by India...

The angel tax on foreign investors may increase the cost of foreign investment into India.

Feb 16, 2023

Currently, under Section 56(2)(viib) of the Income-tax Act, 1961 (ITA), if an Indian private company issues shares to a resident at a premium and the consideration paid for the shares is higher than the fair market value of such shares, then the excess consideration...