by Majmudar & Partners | Jul 10, 2015 | Banking and Finance, Insolvency and Restructuring
Introduction To address various issues surrounding distressed assets in the banking system, on February 26, 2014, the Reserve Bank of India (the “RBI”) issued the Framework for Revitalising Distressed Assets in the Economy (the “Framework”). The Framework, inter alia,...
by Majmudar & Partners | Jul 2, 2015 | Corporate/M&A, Private Equity and Venture Capital
Introduction On June 5, 2015, the Ministry of Corporate Affairs, Government of India (the “MCA”) issued a notification (the “Notification”), which significantly reduces the compliance requirements for private companies under the Companies Act, 2013 (the “Act”). With...
by Majmudar & Partners | Jun 5, 2015 | Corporate/M&A
Introduction On August 29, 2013, the Companies Act, 2013 (the “2013 Act”) received the assent of the President of India. Since then, 282 sections of the 2013 Act have been brought into force in three (3) phases. Further, between March 27 and March 31, 2014,...
by Majmudar & Partners | May 21, 2015 | Corporate/M&A, Foreign Investment
Introduction On May 12, 2015, the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (the “DIPP”) issued the consolidated foreign direct investment policy circular of 2015 (the “FDI Policy 2015”). The circular on...
by Majmudar & Partners | Apr 29, 2015 | Foreign Investment, Private Equity and Venture Capital, Tax
Background Minimum Alternate Tax (“MAT”) is a tax levied under the Income-tax Act, 1961 (“IT Act”) on the book profit of a company where the overall tax paid by the company is less than 18.5% of the book profit. Generally speaking, in the case of non-resident...
