by Majmudar & Partners | Dec 4, 2015 | Foreign Investment
Introduction India stands committed to having a Foreign Direct Investment (“FDI”) regime that is investor friendly and promotes foreign investment for overall economic growth. Since the Modi government came to power in June 2014, many FDI policy reforms were made in...
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...
