Corporate/M&A
March 29, 2016

IS THE SEBI’S PROPOSAL TO INTRODUCE A BRIGHTLINE TEST TO DETERMINE CHANGE OF “CONTROL” WORKABLE!

Introduction In India, the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the “Takeover Regulations”) adopt a mandatory tender offer regime for acquisition of listed companies in order to provide a level playing field to the public shareholders.  The acquisition of a substantial shareholding stake and the acquisition of control are treated equally and…

Tags:
Corporate/M&A, Securities Law
VIEW MORE
December 16, 2015

EXTERNAL COMMERCIAL BORROWINGS BY INDIAN COMPANIES MADE EASY

Introduction On November 30, 2015, the Reserve Bank of India (the “RBI”) revamped the regime governing external commercial borrowings (“ECBs”) by Indian companies and introduced a revised framework (the “Revised Framework”). The Revised Framework significantly relaxes the rules on permitted lenders, rupee denominated borrowings (“RDBs”) and long term foreign currency denominated borrowings (“LTBs”). The Revised…

Tags:
Banking and Finance, Corporate/M&A
VIEW MORE
July 2, 2015

PRIVATE COMPANIES CAN NOW BREATHE EASIER IN INDIA

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 these changes, corporate governance of private companies will become easier.  This update discusses the key changes. Key exemptions…

Tags:
Corporate/M&A, Private Equity and Venture Capital
VIEW MORE
June 5, 2015

INDIAN GOVERNMENT AMENDS COMPANY LAW, INTRODUCES MANDATORY SECRETARIAL STANDARDS AND A NEW INCORPORATION FORM

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, twenty-one (21) new rules were notified under the 2013 Act…

Tags:
Corporate/M&A
VIEW MORE
May 21, 2015

CLARIFICATIONS TO INDIA’S FOREIGN DIRECT INVESTMENT POLICY

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 consolidated foreign direct investment policy is updated by the DIPP every year and captures all the…

Tags:
Corporate/M&A, Foreign Investment
VIEW MORE
February 18, 2015

RECENT CHANGES TO INDIA’S FOREIGN EXCHANGE REGULATIONS

This update discusses certain key changes to India’s foreign exchange regulations implemented in the past few weeks Liberalization of the limit under the Liberalized Remittance Scheme (“LRS”) In the bi-monthly monetary policy statement released on February 3, 2015, the Reserve Bank of India (the “RBI”) has increased the limit on remittance of foreign exchange for…

Tags:
Corporate/M&A, Foreign Investment, Private Equity and Venture Capital
VIEW MORE

Send this to a friend