Lack of evidence of loss of profit in an arbitral award renders the award as contrary to public policy
Download .pdf In Unibros v. All India Radio, India’s Supreme Court (the “SC”) set aside an arbitral award that allowed a claim for damages without...
India tightens beneficial ownership disclosure requirements
Download .pdf India’s Ministry of Corporate Affairs (the “MCA”) has notified the Companies (Management and Administration) Second Amendment Rules,...
India’s Supreme Court treats telecom licence fees as a capital expense – major pain ahead
Download .pdf In the Bharti Hexacom case, India’s Supreme Court (the “SC”) has held that the variable licence fee that was paid annually by...
Are home buyers financial creditors under the IBC?
Download .pdf Recently, in the case of Vishal Chelani & Ors. v. Debashis Nanda (Civil Appeal No. 3806 of 2023), India’s Supreme Court (SC) ruled...
RBI proposes a revamp on the framework applicable to wilful defaulters
Download .pdf Last month, the Reserve Bank of India (the “RBI”) released a draft Master Direction (the “Draft Direction”) proposing revisions to the...
Angel tax valuation rules notified
Download .pdf By its notification dated September 25, 2023, the Central Board of Direct Taxes (CBDT) has amended Rule 11UA of the Income-tax Rules,...