The term beneficial owner wasn’t defined under the Press Note 3 of 2020, and the FEMA (Non-debt Instruments) Rules, 2019. Hence, there existed a dichotomy in the industry, as to the ownership threshold applicable to the said term. The PMLA Amendmen...

The Reserve Bank of India recently issued the Frequently Asked Questions to clarify certain positions under the Digital Lending Guidelines. The FAQs clarify the letter and spirit of the law to be followed by banks and non–banking financial companie...

Many Indian companies have historically used restructuring measures involving flipping or externalisation of their business and operations. Economic factors and legal regime, involving such structures have been extremely dynamic. While motivations to...

The Finance Bill, 2023 has introduced an amendment to the Angel Tax provisions under the Income tax Act, 1961 in relation to its applicability to non-residents. INDUSLAW’s Winnie Shekhar, Anantha Krishnan Iyer, and Rajat Jain discuss how the amendm...

On August 22, 2022, the Government of India through the Ministry of Finance and in consultation with the Reserve Bank of India (“RBI”) notified the Foreign Exchange Management (Overseas Investment) Rules, 2022, Foreign Exchange Management (Overse...

On October 28, 2020, the DPIIT after a gap of 3 long years, unveiled the consolidated FDI Policy, 2020. While it seeks to consolidate the extant FDI regime and replaces the older policies, it does not overwrite the regime established by the Foreign E...

The Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2020[1] were introduced on July 27, 2020, which among other things, passes the baton from the government of India back to the RBI, for certain matters relating to FDI. IN...

On July 29, 2020, the Union Cabinet approved the National Education Policy 2020 (“NEP”), which replaces the 34 years old National Policy of Education, 1986. The objective of the NEP is to transform the country into a flourishing knowledge society...

The world is witnessing unprecedented times in light of the COVID-19 outbreak, which has led to countries across the globe adopting legal, political and economic measures which are equally unprecedented. In one such move, the Indian Government has, o...

With the growing uncertainty around the COVID-19 situation, parties have begun to evaluate what customarily gets built into transaction documents as a clause relating to material adverse effect or material adverse change ('MAE/MAC'). INDUSLAW's Sunee...

In furtherance of ease of doing business in India and in order to capture the changes which had been introduced by Press Note 4 of 2019, the Central Government on December 5, 2019, notified the Foreign Exchange Management (Non-debt Instruments) (Amen...

The Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (the 'Rules'), the Foreign Exchange Management (Debt Instrument) Regulations, 2019 (the 'Debt Regulations'), and the Foreign Exchange Management (Mode of Payment and Reporting of Non-...

INDUSLAW brings you key regulatory and legal developments in various sectors in India on a quarterly basis.INDUSLAW is a multi-speciality Indian law firm with 36 partners and over 100 lawyers across four offices in Bengaluru, Delhi, Hyderabad and Mum...

On August 28, 2019, the Union Cabinet approved the proposal for amending certain provisions of the FDI Policy, suggesting relaxation of FDI norms for various sectors. INDUSLAW's Akhoury Winnie Shekhar, Jaidrath Zaveri and Nabarun Chandra Ray discuss.

With an aim to boost the economy, the Ministry of Corporate Affairs issued a notification to amend the Companies (Share Capital and Debentures) Rules, 2014, through which the rules for issue of equity shares with differential rights is liberalized, r...

In continuation of its efforts to simplify the existing ECB regime in India, the RBI issued a circular on July 30, 2019, through which it has relaxed the ECB end-use restrictions for corporates and NBFCs by permitting the use of ECB proceeds for work...

On December 26, 2018, the DIPP issued a press note to introduce key changes to the conditions applicable to e-commerce marketplace entities to receive FDI under the FDI Policy. This will come into force on February 1, 2019, and is likely to have swee...

The Reserve Bank of India (the "RBI"), on September 1, 2018, released a user manual (the "SMF Manual") to clearly set out the procedure for filing a single master form (the "SMF"), which it introduced on June 7, 2018, to integrate the existing report...

On August 27, 2018, the Directorate General of Civil Aviation (the "DGCA"), under the Ministry of Civil Aviation (the "Aviation Ministry"), introduced regulations (the "Drone Regulations") to set out the civil aviation requirements for the operation ...

In June 2017, the Securities and Exchange Board of India ('SEBI') constituted a committee on corporate governance under the chairmanship of Mr. Uday Kotak, to improve standards of corporate governance of listed entities in India (the 'Kotak Committee...

The Ministry of Finance has announced minimum foreign direct investment ("FDI") limits applicable to unregulated or partially regulated investee entities under the Government approval route in the "other financial services" sector, by way of a press ...

In an attempt to clarify the position in relation to the law relating to cross-border mergers in India, the Reserve Bank of India (the 'RBI') has notified the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 (the 'Regulations') . T...

In an attempt to simplify, consolidate and clarify the regulations relating to foreign direct investment ('FDI') in Indian entities by foreign investors, the Reserve Bank of India (the 'RBI') notified the Foreign Exchange Management (Transfer or Issu...

In an attempt to bring the reporting requirements relating to the Foreign Exchange Management Act, 1999 (the 'Act') in line with the recently-introduced Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2017 (the 'N...

The Union Cabinet, on January 10, 2018, approved certain key amendments to the Consolidated FDI Policy Circular of 2017 (the 'FDI Policy'). The amendments aim to further liberalize and simplify the FDI Policy to create a more foreign investor-friendl...

By way of Press Note No. 1 of 2017, the Department of Industrial Policy and Promotion (the 'DIPP') on August 28, 2017, released the consolidated foreign direct investment policy circular for 2017 (the '2017 FDI Policy') effective from August 28, 2017...