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  • Article

    India Drained Of Billions By Illicit Cash Dealings

    MUMBAI - India has lost hundreds of billions of dollars over the past six decades as companies and the rich stashed cash overseas to avoid taxes and hide ill-gotten gains, widening inequality...
    IndiaFinance and Banking
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Listing Without An IPO For SME: SEBI Provides A Platform For Exits By Investors

    SEBI has allowed SMEs to list their specified securities on the new Institutional Trading Platform ("ITP") of a recognised stock exchange without an IPO.
    IndiaFinance and Banking
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Supreme Court Lifts The Corporate Veil And Cancels Allotment Of Land

    The Respondent, a company incorporated in Singapore, was the parent of Esys Information Technology ("Esys India") registered under the Companies Act, 1956, having its registered office at Chandigarh.
    IndiaCorporate/Commercial Law
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    FPI Investment In Unlisted Corporate Bonds: Are We There Yet?

    In a potential move to encourage further foreign investment into the debt markets, the Reserve Bank of India ("RBI"), released draft circular on May 16, 2016 proposing to expand the basket...
    IndiaFinance and Banking
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Bombay High Court Sets Aside SEBI's First Order Of Imprisonment As Arbitary And Illegal

    The facts of the case have been dealt with in detail in our earlier hotline on SEBI's order, which was challenged before the Bombay High Court.
    IndiaLitigation, Mediation & Arbitration
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    No Valid Arbitration If Clause In Unsigned Agreement

    The Delhi High Court ("Court") in the case of Virgoz Oils and Fats Pte. Ltd. ("Vigoz") v National Agricultural Marketing Federation of India has refused the enforcement of a foreign arbitral award...
    IndiaLitigation, Mediation & Arbitration
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Foreign Amalgamation Involving Indian Assets Exempt From Capital Gains Tax: Aar Relies On Non-Discrimination Clause In India-Italy Dtaa

    In a decision that significantly benefits foreign companies, the Authority for Advance Rulings has ruled that merger of two non-resident companies with underlying assets in India will not be liable to capital gains tax...
    IndiaTax
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Taxing Cross-Border Production Activities – Contract Language Re-Emphasized

    Line producer not an intermediary - held to be providing services on a principal to principal basis
    IndiaTax
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Bombay High Court: No Set Off On Stamp Duty For Inter-State Amalgamations

    A full judge bench of the Bombay High Court holds that a scheme settled by two companies is not a document chargeable to stamp duty.
    IndiaCorporate/Commercial Law
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Government Of India Relaxes Norms For Foreign Acquirers In Public M&As

    The Reserve Bank of India in continuance with its measures of liberalization of policies governing foreign direct investment in India has, through its circular no. 38 dated September 6, 2013, relaxed the restriction on non-resident investors in terms of acquisition of shares on the floor of stock exchange.
    IndiaCorporate/Commercial Law
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Postal Ballots Cannot Replace Actual Shareholder Meetings

    All companies to follow postal ballot requirements along with convening physical shareholder meetings.
    IndiaCorporate/Commercial Law
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    India's Law On Prevention Of Sexual Harassment At Workplace

    Long bygone are the days when men used to be the sole bread-winners of a family. Globalization has brought a radical change in the status of women worldwide.
    IndiaEmployment and HR
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Workplace Sexual Harassment Complaint

    Court Decides Not To Interfere With Decision of Internal Committee Set Up By Employer
    IndiaEmployment and HR
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    A New Era Of Debt-Raising! – RBI Announces Liberalized Framework For Rupee Denominated Overseas Borrowing

    Under the Existing Policy, Indian body corporates are permitted to avail overseas foreign currency denominated debt under the automatic route upto certain limits.
    IndiaFinance and Banking
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Claiming Damages? Don't Go Under IBC, Says NCLT

    NCLT Imposes penalty on the Petitioner for attempting to initiate CIRP based on incorrect facts and false information
    IndiaInsolvency/Bankruptcy/Re-Structuring
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Extra-Territoriality And Trademark Infringement: The Delhi High Court Revisits The "Purposeful Availment" Test

    An Indian court can exercise jurisdiction over a defendant website located outside of India, only if it is shown that the website intentionally targets Indian customers.
    IndiaIntellectual Property
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    A Wake-Up Call For The Indian Government

    A country takes on an international obligation with the obvious intent of honouring its commitments under a specific instrument, to the fullest extent possible.
    IndiaInternational Law
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Caution: Disobeying Orders Of An Arbitral Tribunal May Land You In Jail!

    Supreme Court clarifies that parties can be punished for contempt for any action/default in complying with Tribunal's order or during the conduct of the proceedings and not merely restricted to taking evidence
    IndiaLitigation, Mediation & Arbitration
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Investment Into Commercial Real Estate In India: An Investor Perspective

    Commercial real estate space in India has been attracting increased attention from investors globally.
    IndiaReal Estate and Construction
    Nishith Desai Associates
    Nishith Desai Associates
  • Article

    Delhi High Court Applies Reduced 10% Rate To Non-Resident Capital Gains

    The Delhi High Court has recently held in the case of Cairn U.K. Holdings Ltd ("CUHL"), that a non-resident investor is entitled to the reduced 10% tax rate on long term capital gains3 fr om sale of listed securities off the floor of the stock exchange.
    IndiaTax
    Nishith Desai Associates
    Nishith Desai Associates

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