Tag: Foreign Exchange Regulation
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Press Note 1 of 2018: Revision of the FDI Regime
[Amitabh Robin Singh is a corporate lawyer practising in Mumbai] The Department of Industrial Policy and Promotion has issued Press Note 1 of 2018 dated January 23, 2018 (“PN 1”), which liberalizes the foreign direct investment (“FDI”) regime across various sectors. However, I would like to open this post by not discussing a particular sector, but…
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Anti-Dilution and Rights Issue: On the Right Side of the Law?
[Job Michael Mathew is a 4th year BA.LL.B (Hons) student at NALSAR University of Law. He may be reached at job.mathew94@gmail.com] This post examines whether the instrument of rights issue can be used by unlisted companies in enforcing anti-dilution provisions which may be one of terms in a shareholders’ agreement with a foreign investor. Put…
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Inconsistency between FDI policy and FCRA in the Media Sector
[Aditya Singh Rajput and Nelson Chaudhuri are researchers at the National Institute of Public Finance and Policy (NIPFP), New Delhi. The authors thank Radhika Pandey and Sumant Prashant from NIPFP for their valuable inputs] The post highlights an inconsistency which exists in the current Foreign Direct Investment (FDI) Policy and the Foreign Contribution (Regulation) Act,…
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A Closer Look at the Cross-Border Mergers Regime in India
[Posted by Umakanth Varottil] [Post by Suprotik Das, a 5th year law student at the Jindal Global Law School, Sonepat, Haryana.] April 13, 2017 marked a momentous event in the cross-border merger regime in India with the Ministry of Corporate Affairs notifying section 234 of the Companies Act, 2013 as well as amendments to the Companies (Compromises,…
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Tata – Docomo Verdict: A Critical Analysis
[Posted by Umakanth Varottil] Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-IN;} [Post by Anurag Pareek, who is a Joint Partner at Lakshmikumaran & Sridharan (L&S).…
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DoCoMo v. TATA: Unanswered Questions Regarding Powers of the RBI
[Posted by Umakanth Varottil] [The following post is contributed by Ambarish, who is a corporate lawyer. Views are personal. A related post on the topic can be found here.] The decision of the Delhi High Court in NTT Docomo Inc v. Tata Sons Limited has received a lot of media attention, specifically the part where…
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Clarifications to the Cruz City 1 Holdings Case: What really happened in Renusagar v. General Electric?
[Posted by Umakanth Varottil] [The following guest post is contributed by Suprotik Das, a 5th year law student at the Jindal Global Law School, Sonepat, Haryana.] On April 11, 2017, the Delhi High Court rendered a judgement in the case of Cruz City 1 Mauritius Holdings v. Unitech Limited. As mentioned in this blog earlier, this case…
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Delhi High Court on Put Options and Guarantees under FEMA
[Posted by Umakanth Varottil] Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”;} The issue of whether put options, exits at assured returns and guarantee arrangements between Indian and foreign parties are enforceable…
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Issue of Convertible Notes by Startups Permitted
[Posted by Umakanth Varottil] [The following guest post is contributed by Bhushan Shah & Neha Lakshman from Mansukhlal Hiralal & Company. The views expressed in the post are personal] A convertible note is an instrument issued as debt and convertible into equity of a startup at the option of the holder, upon a future contingency taking…
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Liberalization of RBI’s Policies
[Posted by Umakanth Varottil] The Reserve Bank of India (RBI) last week issued a series of circulars liberalizing and streamlining its policies on various types of equity investments as well as on external commercial borrowings (ECBs). The key pronouncements are highlighted below: 1. Foreign Investment in “Other Financial Services” In the case of non-banking finance…