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billing rates

Feeling the squeeze

Our 2019 billing rates survey finds legal fees rising, but a difficult economy is putting pressure on law firms' margins. Vandana Chatlani reports India’s economy is in dangerous waters. In August, data from the National...
future

Framing a future

What will happen to India’s iconic law firms when the time comes for their well-known promoter partners to bow out? Vandana Chatlani reports India’s corporate law firms have invested much time and money on practice...

The A-List 2019

India Business Law Journal reveals the country’s top lawyers and legal icons ACCESS THE A-LIST 2019 The fourth annual edition of the A-List is a continuation of India Business Law Journal’s efforts to recognize India’s most...
ECB

Tweaks to ECB directions helpful, but clarity needed

By Sawant Singh and Aditya Bhargava, Phoenix Legal
Until recently, proceeds of external commercial borrowings (ECB) were not allowed to be used for working capital or general corporate purposes, or for the repayment of rupee loans, except where an ECB with a...
GST

Managing your GST for cross-border transactions

By Rajesh Kumar and Abhishek Hans, India Law Offices
Cross-border transactions are intricate and complex in terms of indirect tax consequences in India. It is important to understand and analyse the applicability of a goods and services tax (GST) on cross-border transactions. This...
investigation

New dawn for CCI’s investigation techniques

By Karan Chandhiok and Lagna Panda, Chandhiok & Mahajan
Dawn raids are unannounced search and seizure operations conducted by the director general (DG) of the Competition Commission of India (CCI), or investigators acting under the DG’s authority in accordance with the Competition Act,...
SEBI

Recent SEBI amendments to pledge disclosures

By Jyotika Bajaj and Medha Unadkat, SNG & Partners
Raising debt by pledging shares is a common practice in the banking and finance industry. However, pledging the shares of a listed company has a direct impact on the marketability of those shares, and...
aditya

Advent leads US$300m fundraise by Aditya Birla

Aditya Birla Capital (ABCL), the financial services subsidiary of diversified conglomerate Aditya Birla Group, raised ₹21 billion (US$300 million) from a group of investors and other group companies. Global private equity firm Advent International invested...
insolvency

India at crossroads with cross-border insolvency

By Shweta Bharti and Sukrit Kapoor, Hammurabi & Solomon
The National Company Law Appellate Tribunal (NCLAT) in the Jet Airways insolvency proceedings upheld the recent cross-border protocol agreed between the National Company Law Tribunal (NCLT) appointed Resolution Professional (RP) and the Dutch insolvency...

Acquisition of companies through share swaps

By Jay Gandhi and Abhishek Parekh, Shardul Amarchand Mangaldas & Co
Analysis of global trends shows that share swap structures have become integral elements in most M&A transactions. The acceptance of stocks as currency for such acquisitions is well established, as Disney’s US$71 billion acquisition...
arbitrate

Non-signatories of a group are bound to arbitrate

By Karthik Somasundram and Shreya Gupta, Bharucha & Partners
The courts have previously applied the doctrine of group companies when they referred non-signatories to an arbitration agreement to arbitrate. The Supreme Court invoked this doctrine again in the case of MTNL v Canara...
reforms

Tax reforms introduced to stimulate economy

On 20 September 2019, the president of India, Ram Nath Kovind, promulgated the Taxation Laws (Amendment) Ordinance, 2019, to introduce several major reforms to the direct tax framework, with the objective of rationalizing tax...
employers

A fine balance

Merging the wants of employers and employees into law reforms palatable to both sides is no easy task, writes Sanjoy Ghose Businesses view Indian labour laws as a growth inhibitor, cumbersome, discouraging investment and expansion,...
RERA

Remedies under CPA, RERA are concurrent

The Delhi High Court in a recent judgment held that remedies available to homebuyers under the Consumer Protection Act, 1986 (CPA), and Real Estate (Development and Regulation) Act, 2016 (RERA), are concurrent. This judgment...

Conflicts of interest of investor nominee directors

By Mohit Gogia and Rachita Bhat, S&R Associates
Investors or other stakeholders routinely participate in the governance of an investee entity through nominees, often appointing a nominee as a director to safeguard its interests through the exercise of a veto or an...

Solutions to PPP challenges in infrastructure sector

By Amit Ronald Charan and Rashi Arora, HSA Advocates
India is potentially the largest global market for public-private partnerships (PPP) thanks to the growing number of PPP projects in the past 15 years. Policy measures designed to bring about private participation in infrastructure...
ECB

IBC to lure foreign funds following ECB reforms

By Sameen Vyas and Vishrut Kansal, L&L Partners
Consistent with the views of the government, the Reserve Bank of India (RBI) regards the Insolvency and Bankruptcy Code, 2016 (IBC), as a credible way of removing obstructions to economic progress represented by non-performing...
law firms

State of play

Indian law firms face a daunting pace attack from big accountancy firms amid a slow-wicket economy. On top of this, in-house counsel are facing up to more work internally, leaving less for law firms....
mergers

Dial M for merger

Significant merger activity in the telecoms sector provides a window into merger regulation and control on a global scale, writes Kalpana Tyagi The past few years have been dynamic for the telecommunications sector worldwide. Significant...

An Asian mosaic

Senior women lawyers across Asia share personal stories of successes, struggles and strategies for a more inclusive legal profession. Vandana Chatlani reports The women profiled in this article have worked in-house, in private practice, in...