India Notifies its End-of-Life Vehicles Rules
– Ashutosh Senger & Nirmal John INTRODUCTION The Ministry of Environment, Forest and Climate Change (“MoEFCC”) has notified the Environment Protection (End-of-Life Vehicles) Rules, 2025 (“ELV Rules”) which establishes a comprehensive framework for the environmentally sound management of end-of-life vehicles (“ELVs”). These ELV Rules come into force from 1st April 2025.
Abolition of Angel Tax in India: A Boost for the Startup Ecosystem
On July 23, 2024, the Finance Minister Nirmala Sitharaman through the introduction of the Finance Bill, 2024,[1] held that Section 56(2)(viib) of the Income Tax Act, 1961 (“Act”),
Insolvency Brief Case – February 2024
The Insolvency and Bankruptcy Board of India (IBBI), lifted restrictions and allowed the same insolvency professional for both a company and its personal guarantor, aiming for improved harmonization and coordination in the resolution process.
Arbitration Brief Case – February 2024
While the temperature at the capital continued to drop, December 2023 saw a flurry of much awaited decisions by the Supreme Court.
Insolvency Brief Case – January 2024
The Finance Ministry instructed the public sector banks to actively oversee and evaluate the top 20 cases under the Insolvency and Bankruptcy Code (IBC) as part of their strategy for managing non-performing assets.
Corporate Law Brief-January 2024
On February 1, 2024, the Union Finance Minister presented the Interim Budget 2024-25. The key highlights are as follows:
Major Clauses of a Shareholders’ Agreement Decoded
Unlike regular agreements such as services agreements, lease agreements, employment contracts etc. which the parties normally enter into in their usual course of business, Share Subscription Agreement (SSA), Share Purchase Agreement (SPA) and Shareholder’s Agreement (SHA) are one such category of agreements which are not executed on regular intervals and can be said to be …
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An Unfair Code for Personal Guarantors
Introduction The Insolvency and Bankruptcy Code (“IBC”) was enacted in 2016 to provide a stimulus to the insolvency and bankruptcy process in India, which had not been performing as per the desired pace due to the lack of effective mechanism in the previous legislations. The IBC is a comprehensive legislation enacted with an aim to …
REVAMP OF OVERSEAS INVESTMENT REGULATORY FRAMEWORK
The Reserve Bank of India (“RBI”) in consultation with the Government of India (“GoI”), has recently revamped the regulatory framework governing the overseas direct investment (“ODI”) made by residents in India. The GoI has brought in Foreign Exchange Management (Overseas Investment) Rules, 2022 and the RBI has issued Foreign Exchange Management (Overseas Investment) Directions, 2022, …
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Electricity regulator continues to reign supreme for now
Authored by Abhishek Nath Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors