The Maggi ban – has the Indian government done enough to control the damage?
On June 5, 2015, the Food Safety and Standards Authority of India (the “FSSAI”) issued an order against Nestle India Limited (“Nestle”) imposing...
Positive signal to FIIs and FPIs – no MAT prior to April 1, 2015
Background Section 115JB of India’s Income-tax Act, 1961 (the “IT Act”), provides for taxation of those companies who, despite showing high profits...
Policies and trends in India’s solar energy sector
Introduction In its Union Budget, 2015, the Indian government has set an ambitious target of installing 175,000 Megawatts (“MW”) of renewable energy...
Foreign companies receiving money from Indian payers may not need a permanent account number (PAN)
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...
Borrowers beware – banks can now take over companies to recover their debt
Introduction To address various issues surrounding distressed assets in the banking system, on February 26, 2014, the Reserve Bank of India (the...
Private companies can now breathe easier in India
Introduction On June 5, 2015, the Ministry of Corporate Affairs, Government of India (the “MCA”) issued a notification (the “Notification”), which...