by Majmudar & Partners | Dec 27, 2018 | Tax
Recent developments The Indian tax authorities have started invoking the general anti-avoidance rules (“GAAR”) under India’s Income-tax Act, 1961 (the “IT Act”). In the last twelve (12) months, tax notices have been issued to many Indian subsidiaries of foreign...
by Majmudar & Partners | Dec 14, 2018 | Competition
The Competition Act, 2002 (the “Act”) sets out the regime for anti-competitive practices and merger control in India. While the Competition Commission of India (the “CCI”) is a fairly young regulator, over the last few years, the jurisprudence on Indian competition...
by Majmudar & Partners | Nov 27, 2018 | Securities Law
The Securities and Exchange Board of India (the “SEBI”) actively monitors the Indian securities and commodities markets, and has been implementing new regulations based on market practices. Some of the more important SEBI circulars issued recently have been discussed...
by Majmudar & Partners | Nov 15, 2018 | Tax
Financial, legal and risk management services not “Included Services” In the case of US Technology Resources Private Ltd v. DDIT, the Kerala High Court (the “KHC”) has held that management, financial, treasury and risk management services, and advising on legal...
by Majmudar & Partners | Nov 1, 2018 | Insolvency and Restructuring
Under India’s Insolvency and Bankruptcy Code, 2016 (the “Code”), a potential bidder (who has been party to or caused the indebtedness and insolvency of a company) can be disqualified from bidding for and submitting a resolution plan to rehabilitate the company. The...
