Last year, the Government had appointed a committee under the chairmanship of Mr. Damodaran, former Chairman of SEBI, to recommend reforms to enhance the regulatory environment for doing business in India. This was in response to the annual Doing Business rankings put out by the World Bank, where India has not been performing satisfactorily with little improvement or the last few years. The...
World Bank’s Doing Business 2013
The World Bank and IFC have published the Doing Business report and country rankings for the year 2013. India still remains at 132 with no signs of overall changes, although its position has improved on some of the parameters, while it has fallen on several others. India’s country report is available here. As these newspaper reports also suggest (here and here), India’s ranking is below its...
Committee for Reforming the Regulatory Environment for Doing Business in India
The Ministry of Corporate Affairs (MCA) has established a 20-member committee to make recommendations to improve the regulatory environment for conducting business in India. Some of the background to this effort is contained in the MCA’s office memorandum: 1. The report of The World Bank and the International Finance Corporation, entitled “Doing Business 2012: Doing business in a very Transparent...
Guarantees and Performance Bonds
Payment obligations under commercial contracts are often secured by means of guarantees issued by banks, which guarantee the performance of the payment obligation by the buyer. For instance, if A and B enter into a contract whereby A agrees to sell B a ship for the price of $50 million, B’s bank may issue to a payment guarantee to A to secure the payment of this amount from B. In the...
Two Global Indicators: Measuring India’s Performance
Doing Business Doing Business 2011, a co-publication of the World Bank and the International Finance Corporation, was released earlier this week. As far as India’s position is concerned, nothing significant has altered compared to its ranking in last year’s report. Of a total of 183 countries covered in the report, India ranks 134 (one place above its ranking of 135 in the 2010 report). Even...
Characterising a Joint Venture
A joint venture, perhaps one of the most widely used vehicles of commerce, is principally of two types – an incorporated joint venture [“IJV”] and an unincorporated joint venture [“UJV”]. The shares of the IJV are held by the members of the joint venture, in proportions that typically reflect their respective contributions to the enterprise. As a matter of law, therefore, an IJV is treated as any...
Doing Business 2010: India’s Performance
Doing Business 2010, a co-publication of the World Bank and the International Finance Corporation has bee released. Compared to India’s ranking of 132nd last year, it has dropped one notch to 133 this year. It has been noted that despite reforms during this period, India has been outperformed by other similarly-situated economies during the period. One area where India has scored marginally...
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