NEWS & UPDATES
May 19, 2020

RUKSHAD DAVAR EXPRESSES HIS VIEWS ON THE DISCONTENT OF SMALL INVESTORS WITH THE HINDU BUSINESS LINE

Our Partner, Rukshad Davar, features in Business Line (aka The Hindu Business Line), with his thoughts on the discontent of small investors in the wake of cases such as PMC, DHFL, CKP and Franklin Templeton, among others. “In any bank, the liability for equity holders is limited to the face value of shares. The developments…

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GOVERNMENT OF INDIA DECIDES TO EXEMPT ALL DEBTS RELATED TO COVID-19

The Indian government’s decision to exempt all debts related to Covid-19 from the definition of default under the Insolvency and Bankruptcy Code (IBC) and to suspend new cases for a year seems to be a risky proposition as this will put undue pressure on banks and financial institutions (FIs) pursuing the restructuring of their debtors….

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May 18, 2020

INDIAN GOVERNMENT EXTENDS LOCKDOWN TILL MAY 31,2020

The Indian government has extended the nationwide lockdown until May 31 and provided a broad framework containing prohibited activities and relaxed social distancing norms. States have been directed to provide detailed guidelines depending on the situation within the State. Given this, employers will have to assess the guidelines issued by the relevant State prior to…

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NEW PSE POLICY ANNOUNCED BY FINANCE MINISTER

In the last tranche of the economic relief package, India’s FM has opened up all sectors to private players. A new public sector enterprises (PSE) policy will list strategic and non-strategic sectors. Strategic sectors will have at least 1 PSE, although the maximum number of PSEs has been capped to 4. This move will lead…

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May 15, 2020

SEBI ANNOUNCES A HOST OF RELAXATIONS FOR LISTED COMPANIES

India’s securities regulator (SEBI) announced a host of relaxations for listed companies in the second week of May, including on procedural aspects such as mode of service of documents to shareholders. The SEBI has also directed stock exchanges not to penalize listed companies if they are unable to achieve the minimum public shareholding between March…

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BENEFITS ANNOUNCED FOR MSMES BY FINANCE MINISTER

Following up on the PM’s speech on May 12, 2020, India’s Finance Minister announced certain benefits for micro, small and medium enterprises (MSMEs): Collateral free loans of up to 20% of the outstanding credit as on February 29, 2020, to be extended up to an aggregate amount of INR 3 trillion (US$39.8 billion). Subordinate debt…

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May 14, 2020

FINANCE MINISTER ANNOUNCES RELIEF PACKAGE FOR BUSINESSES

India’s Finance minister announced a relief package for businesses on May 14, 2020, easing tax compliance rules in a bid to help taxpayers cope with the fallout of the coronavirus pandemic. This includes- reduction in tax withholding rates (by 25% of the existing rate for all Indian residents) until March 31, 2021; extension of the…

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FINANCE MINISTER ANNOUNCES LIQUIDITY MEASURES FOR EMPLOYERS

On May 13, 2020,  India’s Finance Minister announced some liquidity measures for employers : The relief announced by the government in March, under which the government agreed to pay provident fund (social security) contributions on behalf of both, the employer and the employee, for establishments where 90% of the staff receives a salary below INR15,000…

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May 11, 2020

Benchmark Litigation 2020 – Asia-Pacific region

We are pleased to announce that our partner Neerav Merchant has been recognized as Litigation Star by Benchmark Litigation 2020 in the Asia-Pacific region, for his work in the areas of Intellectual Property, Dispute Resolution and Commercial and Transaction. Congratulations!

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May 7, 2020

NOTICE ISSUED BY MCA ON HOLDING OF ANNUAL GENERAL MEETING (AGM) FOR 2020

In view of the ongoing lockdown in India, the Ministry of Corporate Affairs (MCA) has permitted companies to hold annual general meetings through video conference for the calendar year 2020. The compliances for distribution of notice of the meeting, voting mechanism and payment of dividends have also been issued.  

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