Angel Tax and the (un)Ease of Doing Business in India
I. Introduction The provisions relating to angel tax in the Income Tax Act, 1961 (“IT Act”) were primarily introduced to regulate funding received by unlisted companies from angel investors and specifically, to curb money laundering and funnelling of black money into the start-up ecosystem.
GREEN HYDROGEN (SERIES II): A PRACTICAL INSIGHT INTO GREEN HYDROGEN PROJECT DEVELOPMENT
I. INTRODUCTION The green hydrogen sector has seen rampant development in recent years with the international community showing significant interest in reducing the reliance on fossil fuels and preventing harmful climate change.
RBI framework for cross-border payment aggregators: A shift in regulatory approach
In March 2020, the Reserve Bank of India (RBI) issued the guidelines to regulate the activities of the domestic payment aggregators (Domestic PA Framework)[1] and mandated the payment aggregators (PAs)[2] to seek authorisation from the RBI for their payment aggregation business.
ONLINE GAMING BANS IN INDIA: THE GAMBLE THAT DOESN’T PAY OFF
Introduction Millions of people use online gaming as a form of entertainment, and some, to a certain extent, use it as a mode of earning income.
NAVIGATING REGULATORY HURDLES IN INDIA’S FINTECH LANDSCAPE
FinTech[1] has been a trending topic for quite some time now due to the ease of access it offers in a vast and diverse country such as India.
DELHI HIGH COURT CLARIFIES JUDICIAL STAND POINT OF DIVISIONAL APPLICATIONS
Maintainability of a divisional application in India, has long been a subject of interpretational dilemma. However, a recent judgment from a Division Bench of the Delhi High Court has clarified the statutory stand on the subject.
Managing Foreign Buyers’ Risks in Indian M&A Transactions
Foreign buyers looking to acquire or invest in Indian companies are challenged with known and unknown risks similar to other jurisdictions. However, certain aspects of India’s exchange control rules, occasions of retrospective changes in law,
Reaching for the Stars: Private Sector Participation in India’s Space Sector
In recent weeks, India’s space endeavors have garnered international attention, including on account of the successful soft-landing of Chandrayaan-3 near the lunar south pole, followed by the launch of Aditya-L1 to study the solar atmosphere.
DISTINGUISHING PENAL INTEREST & CHARGES: REGIME CHANGE BY RBI
Introduction The Reserve Bank of India (“RBI”) in its press release titled ‘Statement on Developmental and Regulatory Policies’[1], dated 8th February 2023 observed divergent practices amongst regulated entities,
M/S. DAKSHIN GUJARAT VIJ COMPANY LIMITED V. M/S. GAYATRI SHAKTI PAPER AND BOARD LIMITED AND ANOTHER, ETC._ CIVIL APPEAL NOS. 8527-8529 OF 2009
In a landmark judgment delivered on 09.10.2023, the Hon’ble Supreme Court has finally settled the conundrum arising out of the conflicting interpretations of Rule 3 of the Electricity Rules,