Business Law - Corporate Law Reporter

National Company Law Tribunal (NCLT)

The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Companies in India. The National Company Law Tribunal was formed or established under the Companies Act, 2013 which was constituted with effect from 1st June, 2016. The Ministry of Corporate Affairs (Central Government) constituted National Company Law Tribunal (NCLT) and National… Read More

Major achievements & important events pertaining to DIPP for the period April-July, 2016

DEPARTMENT OF INDUSTRIAL POLICY & PROMOTIONS MAJOR ACHIEVEMENTS (April 2016-July 2016) MAJOR EVENTS, MEETINGS, SEMINARS etc. (1) START UP INDIA- The Department of Industrial Policy and Promotion (DIPP) organised a day-long Startup India States’ Conference on 23rd July, 2016 in New Delhi which was inaugurated and presided over by the Hon‟ble Minister of State (I/c)… Read More

Government Approves Seven (7) Proposals of Foreign Direct Investment (FDI)

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 238th Meeting held on 3rd August 2016, the Central Government has approved seven (07) FDI proposals as per details enclosed. S. No Item No Name of the applicant Gist of the proposal Sector FDI (Rs. crore) 1 2 M/s IMCD India Pvt.… Read More

Government Approves One (1) Proposal Of Foreign Direct Investment (FDI)

Based on the recommendations of Foreign Investment Promotion Board(FIPB) in its 237thmeeting held on 12th July 2016, the Government has approved one Foreign Direct Investment (FDI) proposal as per details enclosed. 1. The following one (01) proposal has been approved: S. No Item No Name of the applicant Gist of the proposal Sector FDI (Rs. … Read More

The Lokpal and Lokayuktas (Amendment) Bill, 2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ex-post facto approval for amendments to Section 44 and consequential amendments of the Lokpal and Lokayuktas Act, 2013 by introducing the Lokpal and Lokayuktas (Amendment) Bill, 2016 in the Parliament. The approved amendments will address concerns and apprehensions expressed by different… Read More

Sharing information on FDI

The Government has taken several effective measures, both by way of policy-level initiatives as well as through more effective enforcement action on the ground, to address the issue of black money, including entry of black money in the country from tax haven countries. These measures include putting in place robust legislative and administrative frameworks, systems… Read More

Attracting FDI and Formulating Special Schemes for FPIs

The Foreign Direct Investment in food processing sector has increased from USD 170.21 Million in 2011-12 to USD 505.88 Million in 2015-16. Foreign Direct Investment inflows into the food processing industries has been one of the reasons for 5.78 % growth of gross value added in food processing industries in 2014-15 at 2011-12 prices. Further,… Read More

Applicable Law to the Contract, Arbitration Agreement and Arbitration Procedure

As could be expected, international arbitration's usually arise out of cross-border commercial transactions involving a complex interaction of laws. There are many issues—from the capacity of the parties to sign a contract to the recognition and enforcement of an award—that require the application of different laws and rules in order to resolve the dispute properly.… Read More

Deferment of Payment on Transfer of Security: RBI fans India’s love affair with FDI

Reserve Bank of India recently made an amendment to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 dated May 20, 2016 by way of insertion of new Regulation 10A (“Regulation”). The new Regulation provides that when a transfer of shares/security between a resident buyer and a… Read More

Radical changes in FDI policy regime

Major impetus to job creation and infrastructure: Radical changes in FDI policy regime; Most sectors on automatic route for FDI The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by Prime… Read More

Initiatives on Improving ‘Ease of Doing Business’ in India as on 7th June, 2016

Ease of Doing Business India’s rank in the Doing Business Report 2015 was 142 among 189 countries, which improved to 130 in the Doing Business Report, 2016. Government of India has emphasized on the importance of ‘Ease of Doing Business’ and it is a major pillar of ‘Make in India’ initiative. It is working extensively… Read More

The Insolvency and Bankruptcy Code 2016

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 28th May, 2016/Jyaistha 7, 1938 (Saka) The following Act of Parliament received the assent of the President on the 28th May, 2016, and is hereby published for general information:— THE INSOLVENCY AND BANKRUPTCY CODE, 2016 NO. 31 OF 2016 [28th May, 2016.] An Act to… Read More

Guidance Note on Accounting for Real Estate Transactions

The Institute of Chartered Accountants of India has introduced Guidance Note on Accounting for Real Estate Transactions. Please click here to download Guidance Note on Accounting for Real Estate Transactions Read More