How CSR impacts public Mearger and Acquisitions deals
A mandatory CSR regime would require investors to ensure that the CSR contributing company has in place adequate avenues for its CSR obligations
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How will the new medical-device rules impact financial investors?
On 11 February 2020, fresh notifications were released drastically expanding the scope of regulation for medical devices under Indian law. Traditionally, India has not had expansive regulation on medical devices unlike several western jurisdictions.
India’s Authority for Advance Rulings denies tax exemption under India-Mauritius treaty
In a controversial ruling released 17 February, India’s Authority for Advance Rulings, a quasi-judicial body which rules on the taxation of non-residents, denied a capital gains tax exemption under the India–Mauritius tax treaty to a Mauritian entity.
Strict similarity test for pharma brands applies to nutraceuticals
In Sun Pharma Laboratories Ltd v Ajanta Pharma Ltd (CS (COMM) 622/2018 & IA 12663/2014), the Delhi High Court has held that the strict similarity test laid down for pharmaceutical brands in the Indian Supreme Court's decision in Cadila Pharmaceuticals also applies to nutraceutical brands.
Award replacing contractual provisions with new terms "shocks the conscience" of Supreme Court
Appellant Ssangyong's bid for the respondent National Highways Authority of India's four-lane bypass project was accepted in 2005.
New ICA for RBI’s New Framework on Debt Restructuring
On 7 June 2019, the Reserve Bank of India (RBI) issued a revised prudential framework for resolution of stressed assets (RBI Framework) which filled the void in the pre-insolvency and Bankruptcy Code, 2016 (IBC) restructuring regime after the Supreme Court stuck down RBI's previous circular for resolution of stressed assets dated 12 Feb 2018 (12 Feb Circular) on the ground that universal and mandatory reference to IBC in ultra vires RBI's powers.
Modi’s second innings: what to watch out for
With the Narendra Modi led NDA government returning to power for a second term with a roaring majority, it is likely that stability and continuity in terms of long-term policies will benefit the economic environment in India.
Does India really need a direct tax code?
The Union Budget may be around the corner. But the task force set up by the finance ministry on the new direct taxes code (DTC) is scheduled to submit its draft by July 31. The task force was mandated to draft a new law to bring income tax in line with global best practices, while also addressing India’s economic needs.