Corporate
The question on the panelists’ minds this week on CNBC-TV18’s The Firm: will the Securities and Exchange Board of India (SEBI) signal their approval of budding stock exchange MCX-SX’s capital reduction scheme by approving the company’s application to run as a full-fledged stock exchange. Menaka Doshi sat down with Vivek Gupta, Partner at BMR Advisors and Kartik Ganapathy, partner at Indus Law for some answers.
Corporate
Last week's episode of CNBC-TV18's The Firm sat Takeover Regulations Advisory Committee (TRAC) members YM Deosthalee and Sourav Mallik opposite AZB & Partners' Zia Mody and Amarchand Mangaldas' Cyril Shroff to discuss some of the intended and unintended consequences of the proposed drastic overhaul of India's takeover regulations.
Corporate The Government has released a draft Bill seeking to amend the century-old Indian Stamp Act 1899 in a bid to enlarge its scope and introduce numerous changes in the extant provisions, including introducing a definition of conveyance.
Corporate The commerce and industry ministry is likely to propose 100 per cent foreign direct investment (FDI) in multi-brand retail outlets, according to an unnamed source in the department quoted by the Economic Times today.
Corporate The Supreme Court has ruled today that all Indian company-related cases should be transferred to the National Company Law Tribunal (NCLT) from high courts and company adjudication bodies throughout the country, by upholding the validity of a 2002 amendment to the 1956 Companies Act.
Corporate Two far-reaching legal developments that will impact the transaction restructurings were published this month, following a Securities and Exchange Board of India (SEBI) circular amending clause 24 of the Equity Listing Agreement and a Delhi High Court decision imposing stamp duty on court approved schemes of amalgamation.
Corporate The Union Minister of Commerce & Industry has released a new foreign direct investment (FDI) policy framework to rescind all previous FDI Press Notes and consolidate all FEMA, RBI Circular and Press Note regulations into one consolidated document.
Corporate
Khaitan & Co has won a landmark order from the Authority for Advance Rulings (AAR) for the firm's client E*trade Mauritius (ETM) to obtain tax exemptions under the India-Mauritius Tax Treaty on capital gains accrued from a sale of shares it held in an IL&FS investment.
Corporate In a decision that could have major adverse consequences in the practice of corporate law the Bombay High Court on 15 February 2010 has effectively declared that transfer restriction clauses like rights of first refusal, tag along and drag along rights, or put and call options in joint venture agreements and shareholder agreements of public companies are void.
Corporate
The third consolidated policy circular on the foreign direct investment (FDI) made effective today has scrapped press note 1 and introduced other directives to further streamline FDI investments in India a year after the Government first announced policy overhauls.
Corporate
The government is mulling making Corporate Social Responsibility (CSR) voluntary rather than mandatory with the objective of invigorating spirit of “intent” over “legislation” in the new Companies Bill which is awaiting parliamentary approval.