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 →
The retrospective applicability of the Payment of Bonus (Amendment) Act, 2005 (“Amendment Act”) has already been stayed by various high courts and has been dealt in detail in our previous blog. This post seeks to highlight a Bombay High Court decision on the matter. Tech Mahindra v. Union of India The Hon’ble High Court of Bombay has... Continue Reading →
Vide notification dated 9th September, 2016, the Ministry of Corporate Affairs (“MCA”) has notified certain provisions of the Companies Act, 2013 (“Act”). The central government has in exercise of its power, under Section 1 (3) of the Act, notified the sections as provided below: Section 227 - Legal advisers and bankers not to disclose certain... Continue Reading →
In today’s time, website usage has increased due to fast and quick access to the information, knowledge, product, etc. Such flexible and approachable way of working has attracted ample of customers and websites have become an effective source of communication, which in turn have introduced non-traditional methods of contracting. Such e – contracts are termed... Continue Reading →
FUNDING SUPPORT AND INITIATIVES Fund of Funds with a Corpus of INR 10,000 crore In a recent Union cabinet meeting, the central government has approved the establishment of INR 10,000 crore ‘Fund-of-Funds for Start-ups’ at Small Industries Development Bank of India (SIDBI) for contribution to various Alternative Investment Funds (AIF), registered with SEBI which would... Continue Reading →
Other policies and initiatives In line with the Action Plan there have been further many policies and amendments that have been formulated and are being successfully implemented to bring the requisite changes in the regulations. Set out below are a series of such polices which have been mapped to the actions points under the Action... Continue Reading →
COMMERCIAL LAW BLOG 