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 …
Background Personal guarantors have been in the news ever since the provisions of the Insolvency and Bankruptcy Code, 2016 (“Code”) were notified and the first set of 12 insolvency resolution processes were initiated. The jurisprudence on the subject at that time ranged from according a moratorium on personal guarantors during the corporate insolvency resolution process …
Regulatory framework for insolvency and bankruptcy proceedings for personal guarantors Read More »
Introduction: The Insolvency and Bankruptcy Code, 2016 (“Code”) as enacted, specifically excludes Financial Service Providers (“FSPs”) from the definition of corporate debtor. Therefore, any proceeding under the Code, ideally, could not be initiated against an FSP. In light of the current crisis in the Indian financial sector, in particular the Non- Banking Finance Companies …
While numbers certainly reveal something, they may not relay the complete story. India has crossed a significant milestone by reaching USD 100 billion threshold, however there is immense potential for the market to grow. The Insurance industry has been at the forefront of economic development in India and has driven the growth of our gross …
Growth of the Indian insurance industry till the USD 100 billion threshold Read More »
The year 2019 is beginning to show immense promise for the growth of India’s first International Financial Services Centre – GIFT City, Gujarat. GIFT City is a ‘smart’ city with high-quality physical infrastructure, an IFSC structured as special economic zone and global financial hub. The International Financial Services Centres Authority Bill, 2019 was recently passed …
India’s journey towards meeting the global IFSC benchmark Read More »
India currently does not have any express legislation governing data privacy and protection. While the transition to a digital economy is underway, the processing of personal data has already become omnipresent. The reality is that almost every single activity undertaken by an individual involves some sort of data transaction or the other. The Information Technology …
Evolution of the data protection regime in India Read More »
