UNRAVELING THE AMPHIBIOUS NATURE OF CCDS UNDER IBC
INTRODUCTION Compulsorily convertible debentures (“CCDs”), often classified as “deferred equity”, are issued by companies as debentures which are compulsorily convertible into equity upon occurrence of agreed trigger events or post maturity.
EARCL’s security interest extinguished in Resolution Plan after notional value of One Rupee ascribed to claim – NCLAT upholds RP decision
The NCLAT in its recent judgment in Edelweiss Asset Reconstruction Company Ltd. v. Mr. Anuj Jain, Resolution Professional of Ballarpur Industries Limited & Ors. has held that when any asset, including security interest in an asset is part of the CIRP, a resolution plan can provide for extinguishment of such asset/ security interest in the …
The Finance Bill 2023 introduces new taxation laws for Online Games
During Covid, online gaming as an industry experienced meteoric growth, gaining popularity among the new-age GenZ and millennials. Online games were easily accessible through smartphones, play stations, Nintendo, and Xbox and were nothing short of a best friend in disguise to eradicate the boredom and isolation brought upon by the pandemic.
The Finance Bill 2023 introduces new taxation laws for Online Games
During Covid, online gaming as an industry experienced meteoric growth, gaining popularity among the new-age GenZ and millennials. Online games were easily accessible through smartphones, play stations, Nintendo, and Xbox and were nothing short of a best friend in disguise to eradicate the boredom and isolation brought upon by the pandemic.
“The Rise of Data Centers in India: Exploring the Growth and Challenges”.
During recent years, the Indian Data Centre (DC) industry is expanding rapidly. India has become a fast growing DC hub pursuant to a massive and growing internet userbase, explosion of data, and establishment of a favourable environment through the government’s Digital India initiative. A Data Centre is a dedicated secure space within a building/ centralized …
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Voting Rights: The new arsenal for Lenders
In India, it is a common practice for the promoters/directors of a company to pledge their securities to secure the loans raised by such companies. Rights in relation to the pledged securities, including right to exercise voting rights over the shares, transfer the share downstream or constitute a nominee, have always been a bone of …
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RECOMMENDATIONS OF THE WORKING GROUP ON DIGITAL LENDING – IMPLEMENTATION: FLDG
The regulatory framework issued by the Reserve Bank of India (“RBI”) on implementation of the Recommendations of the Working Group on Digital Lending on 10.08.2022 (“Implementation Framework”) [1] has resulted in much discussion on permissibility of first loss default guarantee (“FLDG”).
TIGER GLOBAL AAR RULING: ISSUES FOR RE-CONSIDERATION
India-Mauritius tax treaty has come under scanner yet again with a recent pronouncement by the Authority for Advance Rulings (“AAR”) in the case of Tiger Global International II Holdings, In re[1]. The AAR was called upon to adjudicate whether capital gains arising from the sale of shares held by Mauritius based Applicant companies [with further …
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Accept – Reject of Comparables- When can it constitute a ‘substantial question of law’?
Accept – Reject of Comparables- When can it constitute a ‘substantial question of law’? Comparability analysis is one of the most critical aspects of Transfer Pricing benchmarking and therefore it comes as no surprise that selection of comparables has been one of the highly litigated issues before Indian Courts.
Extending the Reach of Indian Safe Harbour Provisions and Advance Pricing Agreement (Transfer Pricing) – A Critical Analysis
Few months back, Indian Government in the February 2020 Budget stipulated a number of significant proposals on Transfer Pricing Regime in relation to Safe Harbour Rules and APAs. In this article, we examine the changes to Indian Safe Harbour and APA rules critically evaluating the benefit and implications of these changes for multinational companies insofar …