by Majmudar & Partners | Nov 5, 2015 | Disputes and Arbitration
Sasan Power Limited v. North America Coal Corporation The often debated question of whether two (or more) Indian parties can opt for a foreign seat of arbitration has surfaced again. The Madhya Pradesh High Court (the “MP HC”) has, in the case of Sasan Power Limited...
by Majmudar & Partners | Oct 19, 2015 | Tax
Recently, in the case of Wipro Limited (the “Taxpayer”), the Karnataka High Court (the “KHC”) has held that a foreign tax credit can be claimed against Indian income under the provisions of section 90(1)(a)(i) of the Income-tax Act, 1961 (the “Act”), irrespective of...
by Majmudar & Partners | Sep 30, 2015 | Disputes and Arbitration
On June 5, 2015, the Food Safety and Standards Authority of India (the “FSSAI”) issued an order against Nestle India Limited (“Nestle”) imposing restrictions on the manufacture, sale and distribution of nine (9) variants of Nestle’s product, Maggi instant noodles...
by Majmudar & Partners | Sep 7, 2015 | Foreign Investment, Private Equity and Venture Capital, Tax
Background Section 115JB of India’s Income-tax Act, 1961 (the “IT Act”), provides for taxation of those companies who, despite showing high profits in their books and paying substantial dividends, do not pay or pay only marginal taxes, by taking advantage of the...
by Majmudar & Partners | Sep 1, 2015 | Foreign Investment, Tax
Introduction In its Union Budget, 2015, the Indian government has set an ambitious target of installing 175,000 Megawatts (“MW”) of renewable energy by 2022, which will include 100,000 MW of solar energy, 60,000 MW of wind energy, 10,000 MW of biomass energy and 5,000...
