Impact on Secured Financial Lenders Introduction The Insolvency & Bankruptcy Code, 2016 (“IBC”) has been one of the most talked about debated, evolving legislations of recent times. It has brought with itself, a sea change in the manner that debt is resolved in India. From its very advent in late 2016, IBC has been embroiled …
The quandary of realizing “Statutory Lien” as a Security Interest under IBC Read More »
Introduction National Company Law Tribunal (“NCLT”) was introduced in the Companies Act, 1956 in the year 2002. However, despite that, the erstwhile Company Law Board continued to function and NCLTs remained only on the statute book. It was only in late 2016 when the Insolvency & Bankruptcy Code, 2016 (“IBC”) was notified, that the NCLTs …
Background Prior to 1 April 2020, dividend income of non-resident shareholders of an Indian company was exempt from tax in India. Indian companies paid dividend distribution tax (‘DDT’) on the declared dividend. However, from 1 April 2020 onwards, dividend income of shareholders of an Indian company is taxable in India in the hands of such …
Dividend income from India – Tax treaty issues for non-resident shareholders Read More »
Asia-Pacific, European Union, Global, India, United Kingdom, USA December 6 2021 India’s insurance sector has, over the years, slowly and steadily seen an ascending trend in respect of the growth of the insurance business by introduction of a multitude of new products and coverage extensions for existing products. Whilst the Indian population was conservative in …
Claims notifications and the continuous cover clause in an insurance policy Read More »
INTRODUCTION The key benchmark rate underlying various financial contracts worth more than USD 240 trillion, is scheduled to be discontinued from 31 December 2021 for certain currencies and tenors, while complete cessation is scheduled after 30 June 2023. The London Inter-Bank Offered Rate (“LIBOR”) dates to 1960s and has been published daily since 1986. It …
The growing popularity of unmanned aerial vehicles warranted that the government of India bring in the Unmanned Aircraft System Rules, 2021 (“UAS Rules”). While these were brought in with huge expectations, they did not quite receive the excitement and traction as expected. Perhaps on account of the onerous compliance burdens and processes that were attached …
The year 2021 has brought about various changes in the Indian insurance industry leading to its development. The economy opened up further for foreign investment and foreign players can now invest in Indian insurance companies till 74% as increased from the previous permissible limit of 49%. Recently, the regulatory framework governing insurance in India’s first …
Unlocked Opportunities In GIFT City IFSC: Moving Towards The Global Benchmark Read More »
In late 1780s, James Madison wrote the first constitutional articulation of the right to privacy in the modern world which read as, “The rights to be secured in their persons, their houses, their papers, and their other property, from all unreasonable searches and seizures, shall not be violated by warrants issued without probable cause, supported …
The need for a Statutory Code for State Surveillance. Read More »
Indian insurance industry has not been able to insulate itself from the growth pressures faced by Indian economy in general. During the pandemic, the risk management practices that were adopted by the companies have been put to acid test currently. COVID 19 global pandemic was a double blow for the Indian economy which was already …
General COVID Impact on the financial services industry Read More »
This note is in continuation to our earlier note of February 2020 which discussed the proposals of the Finance Bill, 2020 (‘the Bill’) to amend the tax residency conditions for non-resident Indians and persons of Indian origin1 with effect from 1 April 2020 (i.e. Financial Year 2020-21 onwards2). In substance, the proposals aimed to reduce the …
