Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 21 SEPTEMBER 2020

Corporate & Commercial Monthly Update – September 2020

HSA Advocates
Explore more from HSA Advocates

The FEMA (Non-Debt Instrument) Rules, 2019 (NDI Rules), notified by the Central Government on October 17, 2019, were recently amended further.

IndiaGovernment, Public Sector
HSA Advocates
HSA Advocates
Author LinkedIn connections

Third amendment to FEMA NDI Rules

The FEMA (Non-Debt Instrument) Rules, 2019 (NDI Rules), notified by the Central Government on October 17, 2019, were recently amended further. The Ministry of Finance issued the NDI (Third Amendment) Rules, 2020 (Third Amendment) vide its notification dated July 27, 2020. At the outset, third amendment seeks to bring about two major changes in NDI Rules, namely granting powers to the Reserve Bank of India (RBI) to administer the NDI Rules and to issue directions or circulars, as it may deem necessary, in this regard and amendment in the entry route and other conditions in relation to air transport services. The major changes have been enlisted below:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Punjab And Haryana High Court Strikes Down JAO - FAO Retrospective Amendment As Unconstitutional

The Hon’ble Punjab and Haryana High Court (HC) in Jyoti Sareen vs. UOI & Others (CWP No. 15791-2024 (O&M)) (Order) held the retrospective amendments carried out vide the Finance Act, 2026, with respect to the powers of the Jurisdictional Assessing Officer (JAO) to issue a reopening notice under section 148 (Reopening Notice) of the Income-tax Act, 1961 (IT Act), as unconstitutional, being violative of the ‘doctrine of separation of powers’ and thus violative of Article 14 of the Constitution of India.
IndiaGovernment, Public Sector
Khaitan & Co.
Khaitan & Co.
Article

Acquisition By An FOCC Of An Indian Company: Pricing Conditions For Resident And Non-resident Shareholders

A FOCC refers to an Indian entity that has received foreign investment and is ultimately owned or controlled by persons resident outside India. Although incorporated in India under the Companies Act, such entities are treated differently from domestically owned and controlled Indian companies for the purposes of foreign investment regulation and downstream investment structuring. Consequently, an FOCC, despite being an Indian incorporated entity, is subject to regulatory conditions applicable to foreign investment while undertaking investments into other Indian entities.
IndiaGovernment, Public Sector
LegaLogic
LegaLogic
Article

Major Reform In Maharashtra: Sanad Requirement Removed For Land Conversion

The Government of Maharashtra has taken a significant step towards enhancing ease of doing business by rationalising the framework governing agricultural land conversion. As per the recent amendment to the Maharashtra Land Revenue Code, 1966 (MLRC), notified on 31 December 2025, and the Government Resolution dated 10 February 2026, the requirement of obtaining a separate sanad or non-agricultural permission from the Collector has been abolished for permissible non-agricultural uses under the Development Plan or Regional Plan under the Maharashtra Regional and Town Planning Act, 1966 (MRTP).
IndiaReal Estate and Construction
HSA Advocates
HSA Advocates
Article

From Permission To Approval: Decoding The Maharashtra Land Revenue Code Amendment 2026

The Maharashtra Land Revenue Code (Second Amendment) Act, 2026 (L. A. BILL No. XXVIII OF 2026) represents a significant reform in the regulation of government land transactions in Maharashtra. Introduced in the Maharashtra Legislative Assembly on 24th March 2026, it focuses primarily on amending Section 37A of the Maharashtra Land Revenue Code, 1966, a provision that governs the sale, transfer, redevelopment, use of additional Floor Space Index (“FSI”), transfer of Transferable Development Rights (“TDR”), and change in use of government land.
IndiaGovernment, Public Sector
HSA Advocates
HSA Advocates
Article

More Than A Signature: Supreme Court Clarifies When Non-Signatories Can Be Bound By Arbitration

The Supreme Court, in KKH Finvest Pvt. Ltd. & Anr. v. Ashiesh Shukla & Ors., 2026 SCC OnLine SC 1498, has reaffirmed an important principle governing the reference of disputes involving non-signatories to arbitration. The Hon’ble Court held that the absence of a signature on an arbitration agreement is not, by itself, determinative of whether a person can be bound by the arbitration agreement.
IndiaLitigation, Mediation & Arbitration
HSA Advocates
HSA Advocates