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Tax victory for foreign law firms

In a significant judgment on 19 December, a division bench of Bombay High Court in Clifford Chance v DCIT held that foreign law firms are not liable to pay tax in India, even if...

RBI permits FCCB buybacks

Until early this year, foreign currency convertible bonds (FCCBs) were regarded as one of the “most preferred” options for raising corporate finance. Suddenly, FCCBs have become millstones around the necks of issuing companies, with dismal...

SEBI amendments: Warranted and timely?

The Securities and Exchange Board of India (SEBI) through its amendments in December 2008 to the SEBI (Disclosure and Investor Protection) Guidelines, 2000, has permitted the introduction of certain financial instruments for companies to...

AAR wishes Ikea India a tax-free new year

The Authority for Advance Rulings (AAR), in IKEA Trading (Hong Kong) v DIT, on 19 December addressed the issue of whether a liaison office of a foreign entity which facilitates the purchase of goods...

Singh & Associates to launch new LPO

Singh & Associates, a Delhi-based law firm, has announced that it is setting up a sizeable legal process outsourcing company (LPO), to be located in Dwarka in south-west Delhi. The project is being under-taken in...

Blackstone plans shakeup at CMS

Private equity firm Blackstone Group has bought a majority stake in the long-established Mumbai IT company CMS Computers for US$58 million. It plans to set up a new company by separating the IT infrastructure...

Authorities investigate misuse of Ambani funds

In December it was revealed that the Enforcement Directorate (ED) of the Indian Ministry of Finance had, since at least August 2008, been investigating possible breaches of foreign exchange controls in the use of...

Satyam reveals billion-dollar lie

In a spectacular case of fraud that sent shockwaves through India Inc and global corporations, Ramalinga Raju, founder and chairman of India’s fourth largest IT company, Satyam, disclosed that the company had falsified its...
law firms

General election and credit crunch may affect reforms

Dear Madam, Your article on India’s banking and finance sector and the second phase of liberalization set to commence in April 2009 (Opening the vault, IBLJ, volume 2, issue 6) is a comprehensive overview of...
law firms

A different perspective on liberalization

Dear Madam, We refer to the article Opening the vault in the December 2008/January 2009 issue of India Business Law Journal. We would like to share a different perspective on some of the issues raised: 1....
editor

Keep on moving

Will India-focused businesses and law firms maintain their momentum, or will a year lived in fear be a year half-lived? The new year has brought undeniable challenges, but also opportunities for those who are confident and...

FCCBs affected by liquidity management measures in India

By Karan Singh and Ameya Khandge, Trilegal
The bull run witnessed by the Indian stock markets over the last few years saw several companies tapping finance by issuing foreign currency convertible bonds (FCCBs). News reports estimate such issuances at almost US$20...

Private sector set to play growing role in insurance

By Ravi Singhania, Singhania & Partners
For nearly four and a half decades after India’s independence, the insurance sector was monopolized by the state. Life insurance was nationalized in 1956 and the Life Insurance Corporation of India was set up...

Healthy capital cushion points to future growth

By Waajid Siddiqui, Hogan & Hartson
Any discussion of outbound investment from India must begin with the effects of the 60 hours in Mumbai last month. The psychological effect of such a devastating event and its commercial impact is all...
A photo of Akila Agrawal who is a Partner at Amarchand & Mangaldas & Suresh A Shroff & Co

Creeping acquisition limits raised

By Akila Agrawal, Amarchand & Mangaldas & Suresh A Shroff & Co
Pursuant to its notification dated 30 October, the Securities and Exchange Board of India (SEBI) has made amendments to the creeping acquisition limits available to the promoters of listed companies. Until recently a person...

Prosecution history key to patent infringement actions

By TS Sharat, Clairvolex Knowledge Processes
As an integral aspect of patent portfolio management, big corporations and Fortune 100 companies have developed internal strategies to commercialize IP globally. Such strategies lay emphasis on the decision making phase pertaining to the filing...

Search on premises vital in software piracy cases

By Abhai Pandey, Lex Orbis IP Practice
Containing piracy is critical as it creates huge losses for owners of intellectual property and adversely affects national economies and global trade. The menace of piracy has been wrestled with to some extent, as...

3, 2, 1 … lift off for nuclear power

By Akshay Jaitly, Sameer Guha and Nayantara Nag, Trilegal
The recently concluded Indo-US nuclear deal could potentially herald a new era in India’s rapidly growing power sector. The so-called 123 Agreement between India and the US enables access to reliable and uninterrupted nuclear...

Self-regulation guidelines issued for broadcasting sector

By Manoj K Singh and Monica Das, Singh & Associates, Advocates and Solicitors
As part of a scheme to regulate broadcasting content for the public domain, the Ministry of Information & Broadcasting has issued a set of self-regulation guidelines for the broadcasting sector. The scheme is intended to...

Corporate sector goes hi-tech with e-governance initiatives

By Priti Suri, PSA, Legal Counsellors
The Registrar of Companies (ROC) is a body appointed according to the provisions of section 609 of the Companies Act, 1956. Its primary duty involves registering companies incorporated in the states and union territories...