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...
Indian government amends company law, introduces mandatory secretarial standards and a new incorporation form
Introduction On August 29, 2013, the Companies Act, 2013 (the “2013 Act”) received the assent of the President of India. Since then, 282 sections...
Clarifications to India’s foreign direct investment policy
Introduction On May 12, 2015, the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (the “DIPP”)...