Tag: Foreign Exchange Regulation
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RBI Permits Deferment of Consideration and Escrow Mechanism Under Automatic Route
[Posted by Umakanth Varottil] [The following post is contributed by Abhishek Dubey who is a Managing Associate with BMR Legal, Delhi. The views expressed here are personal.] In continuation of its policy to rationalize the existing regime under the Foreign Exchange Management Act and to promote the ease of doing business, the Reserve Bank of…
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Revision of FEMA Regulations – Promoting Ease of Doing Business
[Posted by Umakanth Varottil] [The following guest post is contributed by Ananya Banerjee, who is a Fifth Year B.A.LL.B (Honours) Student at the University of Calcutta (Department of Law)] The Reserve Bank of India (“RBI”), through several notifications dated December 29, 2015, January 12, 2016 and January 21, 2016, has consolidated and revised nine sets…
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Problems with the RBI’s new ECB framework
[Posted by Umakanth Varottil] [This guest post is by Pratik Datta and Shefali Malhotra, who are Consultants at the National Institute of Public Finance and Policy (NIPFP). They can be reached at prat.nujs@gmail.com and shefali.malhotra@nipfp.org.in respectively.] Introduction This blog had earlier explained the policy backdrop leading up to the Reserve Bank of India’s (RBI’s) draft…
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Major FDI Reforms: A Snapshot
[Posted by Umakanth Varottil] [The following guest post is contributed by Bhushan Shah & Labdhi Shah from Mansukhlal Hiralal & Company] The Government last week issued a Press Note announcing reforms (“Reforms“) in 15 major sectors in respect of Foreign Direct Investment (FDI). The objective of the Government is to ease the process of foreign investments in…
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Breach of Representations and Warranties in M&A: A Buyer’s Guide
[Posted by Umakanth Varottil] [The following guest post is contributed by Goda A. Raghavan and Kirthi Srinivas G, who are advocates with HSB Partners, Chennai and can be contacted at goda@hsbpartners.com and kirthi@hsbpartners.com respectively. Views are personal and do not represent the views of the firm.] Purchase price in a mergers and acquisitions (M&A) transaction…
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RBI Introduces Rupee-Denominated Bonds Regime
[Posted by Umakanth Varottil] [The following guest post is contributed by Vinod Kothari of Vinod Kothari & Co.] Continuing with some other recent moves to liberalise the options of raising debt from external sector, the Reserve Bank of India (“RBI”) on 29 September, 2015 announced new guidelines (the “Guidelines”) for issuance of rupee-denominated bonds (“RDBs”) overseas. The Guidelines are…
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RBI Circular on Payment Gateways
[Posted by Umakanth Varottil] [The following guest post is contributed by Jitendra Soni, who is an associate at AZB & Partners in Noida. Views are personal] The Reserve Bank of India (“RBI“) has recently issued a fresh circular in an attempt to facilitate cross-border e-commerce transactions, which can be accessed here (“Circular”). Prior to this…
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RBI’s Proposal for a Major Recast of ECB Norms
[Posted by Umakanth Varottil] [The following guest post is contributed by Vinod Kothari of Vinod Kothari & Co. It deals with the details of the proposals announced by the RBI. In an earlier post, Pratik Datta sets out the background to RBI’s proposals] The Reserve Bank of India (RBI) has proposed a major recast of the norms for external…
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RBI’s Draft Framework on ECB: The Background
[Posted by Umakanth Varottil] [This guest post is by Pratik Datta, who is a Consultant at the National Institute of Public Finance and Policy (NIPFP), New Delhi. He can be reached at prat.nujs@gmail.com.] Yesterday the Reserve Bank of India (RBI) released the draft framework for External Commercial Borrowing (ECB) for public comments on or before…