Consultative Paper on proposed SEBI (Real Estate Investment Trusts) Regulations for Public Comments

The Consultative Paper and draft SEBI (Real Estate Investment Trusts) Regulations are placed on SEBI website for Public Comments. The full text of the Consultative Paper and the draft Regulations is available on here. Click here. Comments are invited on the Consultative Paper latest by October 31, 2013. ------------------------------------------------------------ Excerpts from the Paper 1. Background  1. India™s… Read More

Tags: IndiaReal EstateReal estate investment trustReal Estate Investment Trusts: Structure Performance and Investment Opportunities (Financial Management Association Survey and Synthesis Series)REITSecurities and Exchange Board of IndiaSingaporeUnited States

FDI :: Government Approves 17 Proposals for Foreign Direct Investment

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 29, 2013, the Government has approved17 Proposals of Foreign Direct Investment (FDI) amounting to Rs. 992.61crore approximately. In addition, one proposal viz., M/s Jet Airways India Ltd., amounting to Rs. 2057.66 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA). Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on29.07.2013. Following 17 (Seventeen) proposals have been approved. Sl.… Read More

Tags: FDIFIPBforeign direct investmentForeign Investment Promotion BoardGovernmentIndiaMumbaiSingapore

RBI releases its monthly Bulletin for July 2013

The Reserve Bank of India today released the July 2013 issue of its monthly Bulletin. The Bulletin includes four special articles: (i) International Banking Statistics of India: June, September and December 2012; (ii) Survey on International Trade in Banking Services: 2011-12; (iii) India's Foreign Trade: 2012-13 and (iv) Industrial Outlook Survey: 2012-13. 1. International Banking Statistics of… Read More

Tags: Banking in IndiaDecember 2012Hong KongIndiaReserve Bank of IndiaSingaporeUnited StatesUnited States dollar

Visa on Arrival Scheme – May’13 Review

Visa on Arrival Scheme Registeres a Growth of 37 Percent during May 2013 ; Highest Number of VoAs Issued to Japanese Tourists Visa on Arrival (VOA) scheme of the Government continues to be popular with foreign tourists. It registered a growth of 37.2% during May, 2013 as compared to May, 2012. During the month, a total… Read More

Tags: CambodiaFinlandJapanNew ZealandPhilippinesSingaporeVietnamVisa

India and Singapore Extend by Five Years Agreement for Use of Army Training and Exercise Facilities in India

India and Singapore last night signed a fresh agreement to extend the use of training and exercise facilities in India by the Singapore Army for a further period of five years from August this year. The agreement was signed by the Indian Defence Secretary Mr Radha Krishna Mathur and the Singaporean Permanent Secretary of Defence Mr… Read More

Tags: A. K. AntonyAntonyAsia-PacificBilateralismIndiaRadha KrishnaSingaporeSingapore Army

Evolving Regulations and Emerging Market Challenges – The Indian context

(Keynote address by Shri G Padmanabhan, Executive Director, Reserve Bank of India at the 8th Annual Conference of the Foreign Exchange Dealers' Association of India, held in Singapore on May 24, 2013) It is a pleasure to once again address the practitioners of foreign exchange at this Seminar organized by the Foreign Exchange Dealers Association of… Read More

Tags: Independent Commission on BankingIndiaJohn VickersOTCReserve Bank of IndiaSingaporeUnited StatesVolcker Rule

Visa on Arrival Scheme Registers 23% Growth During April 2013

Visa on Arrival (VOA) scheme of the Government continues to be popular with foreign tourists. It registered a growth of 23.5% during April, 2013 as compared to April, 2012. During the month, a total number of 1408 VoAs were issued as compared to 1140 during April, 2012. The following are the other important highlights of VoAs issued during April,… Read More

Tags: April 2013CambodiaFinlandIndonesiaNew ZealandPhilippinesSingaporeVisaVisa on arrival

Income Tax Overseas Units

Income Tax Overseas Units have been set up in Indian Missions abroad as part of efforts to unearth black money. Tax Officers at the level of First Secretary are being posted to Income-tax Overseas Units (ITOUs) in Indian Missions abroad to maintain effective coordination and liaison between Indian tax authorities and the tax authorities of… Read More

Tags: CyprusDouble taxationExchange of InformationIncome taxMauritiusMinistry of External AffairsSingaporeUnited States

CLR Snippets :: Visa on Arrival

The third Inter-Ministerial Coordination Committee on Tourism Sector has decided to extend facility of Tourist Visa on Arrival at Goa, Trivandrum, Bangalore, Hyderabad and Kochi airports. The Government of India has permitted Tourist Visa on Arrival (TVoA) facility for the citizens of 11 countries viz. Japan, Singapore, Finland, Luxembourg, New Zealand, Cambodia, Laos, Vietnam, Philippines… Read More

Tags: FinlandGoaGovernment of IndiaKochiNew ZealandSingaporeThiruvananthapuramVisa

In order to recover foreign arbitration award, a Company’s name can be restored

Ratio of the Case: Merely because a financial loss would be suffered by the appellant qua the arbitration Awards which had been passed against him would not entitle him to come under the exception seeking a refusal of the restoration of the company. CLR Editorial Note: The appellant was aggrieved by an order wherein an… Read More

Tags: AppealArbitral tribunalArbitrationArbitration awardCivil procedureDispute resolutionLawSingapore

India and Singapore Sign MoU on Air Services

India and Singapore Sign MoU on Air Services: Capacity Entitlements Enhanced by 10 Percent India and Singapore signed a new Memorandum of Understanding (MoU) on bilateral air services arrangement in the presence of Civil Aviation Minister, Shri Ajit Singh and Minister of Transport of Singapore, Mr Lui Tuck Yew on April 2 in Singapore. It… Read More

Tags: Civil Aviation Authority of SingaporeCivil Aviation MinistryDelhiIndiaIswaranLui Tuck YewMaduraiSingapore

Long term Capital Gains on Share transfer of Indian Listed Cos. between foreign entities exempt from tax – Goodyear case

Background: In 2011, US based manufacturer Goodyear Tire and Rubber Company had transferred 74% of its holding in Goodyear India to its subsidiary in Singapore without taking any consideration. The Indian Tax claimed that there is a tax implication in this transaction, while the Authority for Advanced Ruling (AAR), ruled that this particular transaction is not subject to… Read More

Tags: Capital GainDelhi High CourtIndiaLong-Term Capital ManagementSingaporeTaxTax treatyUnited States

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