Further to our Part I, this Part seeks to outline the rights of the OCI cardholders with regards to buying immovable property in India. Indian expats, the world’s second-largest diaspora, have since many years been some of the biggest investors in India and the depreciating Indian rupee has particularly intensified investments, especially in the real estate... Continue Reading →
The Citizenship (Amendment) Act, 2015 and major overhauls to galvanize expat investments (Part 1)
‘The Citizenship (Amendment) Act, 2015’ (“Act”) received the President’s assent and was notified in the official gazette on 10 March 2015 and is deemed to have come into effect retrospectively from 6 January 2015. The Act introduces the concept of 'Overseas Citizens of India (“OCI”) Cardholders' which merges together the OCI[1] and the Persons of... Continue Reading →
Entry options for foreign entities in India
Any person who is not a resident of India or a Foreign Company i.e. a company incorporated outside India[1] (“Foreign Companies”) can enter Indian markets for conducting business in the manner permitted by Government of India (“GOI”) and rules in this behalf by the Reserve Bank of India(“RBI”). Foreign companies desirous of carrying out any... Continue Reading →
FDI in E-commerce – Framework Underway
The Department of Industrial Policy & Promotion (“DIPP”) issued the Press Note No. 3 for 2016 on March 29, 2016 (“Press Note”), through which it has clarified the government’s standpoint on the permissible models of conducting e-commerce in India for such entities who have received foreign direct investment. While the policy still remains unequivocal in... Continue Reading →
Reporting under the FDI Scheme on the E-Biz Platform
With a view to promoting the ease of reporting transactions, the Reserve Bank of India (RBI) issued Circular No.77 dated February 12, 2015 thereby easing reporting of transactions under Foreign Direct Investment (FDI) allowed filing of Returns with RBI through e-Biz platform. Following returns can be filed with the RBI using the e-Biz platform: · ... Continue Reading →
Opening up of Pharma Sector vis-à-vis Medical Devices for FDI
Toeing the ‘Make in India’ initiative of the Government of India, the Ministry of Commerce and Industry released yesterday PN 2 of 2015 (to come into effect from 21st January 2015) in relation to Foreign Direct Investment (“FDI”) in manufacture of medical devices. Presently investment in greenfield pharmaceutical projects is permitted fully without government intervention.... Continue Reading →
COMMERCIAL LAW BLOG 