Tag: FEMA
December 18, 2024
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
OPERATIONAL FRAMEWORK FOR RECLASSIFICATION OF FOREIGN P...
On November 11, 2024, the Reserve Bank of India ("RBI"), notified an operational framework for reclassification of Foreign Portfolio Investment ("FPI") to Foreign Direct Investment ("FDI") , once it exceeds the threshold percentage of 10% (ten percent) of the total paid-up equity capital (on a fully diluted basis) of an Indian company. ......
October 30, 2024
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
THE RBI NOTIFIES NEW DIRECTIONS ON COMPOUNDING
On September 12, 2024, the Department of Economic Affairs, Ministry of Finance notified the Foreign Exchange (Compounding Proceedings) Rules, 2024 ("Compounding Rules"), in supersession of the Foreign Exchange (Compounding Proceedings) Rules, 2000. Subsequent to the notification of the Compounding Rules, the Reserve Bank of India ("RBI") notified the new directions on the compounding of contraventions. ......
September 18, 2024
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
The Compound Effect of the New FEMA Compounding Rules
Pursuant to the commitments made during the announcement of the Union Budget 2024-25, the Department of Economic Affairs of the Ministry of Finance, notified the Foreign Exchange (Compounding Proceedings) Rules, 2024 on September 12, 2024 ("Rules") pursuant to Section 46 of the Foreign Exchange Management Act, 1999. ......
August 21, 2024
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Foreign Exchange Management (Non-debt Instruments) (Fou...
Earlier this year, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in her budget speech announced the intent to simplify the regulatory framework governing Foreign Direct Investments ("FDI") and Overseas Investments ("OI"). ......
May 1, 2024
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Direct Overseas Listing of Indian Companies
On 24 January 2024, the Ministry of Corporate Affairs and the Ministry of Finance have notified the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024 ("Overseas Listing Rules") and, vide the FEMA (Non-debt Instruments) Amendment Rules, 2024 ("NDI Rules 2024") (jointly the "January 2024 Notifications"), amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 ("NDI Rules") respectively. ......
May 24, 2023
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
New Rule for Overseas Use of International Credit Card
On May 16, 2023, the Ministry of Finance (“MoF”) notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 (“2023 Amendment”) to omit Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. ......
June 30, 2021
Intellectual Property | Copyright
Intellectual Property | Copyright
Unshackling the Art World: NFTs, Blockchain, and Copyri...
In the first part of this two-part series, we offered a brief overview of NFTs and their applicability in the art world. This second part discusses the copyright and other related legal implications surrounding NFTs. ......
June 29, 2021
Intellectual Property | Copyright
Intellectual Property | Copyright
Unshackling the Art World: NFTs, Blockchain, and Copyri...
The business of purchasing art is traditionally associated with the sale of unique, physical objects whose source was verified by galleries, auction houses and, typically, a trail of paper, to distinguish an original from a copy. In the physical world, you can simply go and buy a painting that you wish to hang on your wall. ......
May 27, 2020
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Mends in the FEMA Pricing Guidelines for Rights Issue b...
In India, foreign investments through equity instruments (other than share warrants) are regulated in accordance with the terms of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (“NDI Rules”). A recent amendment to the NDI Rules has clarified that any acquisition of shares by foreign investors pursuant to renunciation of rights by a resident will be subject to the pricing guidelines under the Foreign Exchange Management Act, 1999 (“FEMA”)....
Removal of fetters on the Arbitration process: Arbitration is not foreclosed due to pendin...
The Arbitration and Conciliation Act, 1996 was enacted to facilitate expeditious and affordable resolution of disputes pertaining to in-personam rights arising out of contractual disputes between private parties.
Timing it Right: Delhi High Court on Pre-Grant Oppositions in India
What happens when a pre-grant opposition is filed after the Controller signs a patent application to grant? This knotty question was answered by the Delhi High Court in a recent case.
Navigating Share Transfer Restrictions in Shareholders’ Agreements Part 2
In our previous Article, we explored the foundational aspects of share transfer restrictions in shareholder agreements ("SHAs"), with a focus on concepts such as tag-along rights, drag-along rights, permitted and automatic transfers, amongst others and the interplay with the Companies Act, 2013 (the "Act").
Collection of Children’s Data under the Digital Personal Data Protection Act: Not Ch...
The protection of children's personal data has and continues to present regulatory and practical challenges for lawmakers, businesses, organisations, institutions and establishments that deal with personal data ("Data Fiduciary").
When “Ok” Becomes “Not Ok”: A cautionary tale of miscommunication from the Indian Patent O...
An important step during patent prosecution in India is the hearing. As the Indian Patent Office (IPO) tends to issue only a single examination report, hearings before the Controller are common.
Navigating Share Transfer Restrictions in Shareholders’ Agreements
Transfer restrictions in shareholder agreements ("SHA(s)") have come to play a critical role in shaping deal dynamics. With India reporting a steady growth in mergers and acquisitions ("M&A"), questions of control, transfer restrictions, ownership flexibility and exit options have become crucial for investors and companies alike.
The Infringer’s Burden in Process Patent Suits in India
Indian patent law contains a unique provision that shifts the burden of proof onto the accused / infringer in process patent suits. But this applies only if certain conditions are met.
NCLT’s Jurisdiction for Fraud in Oppression and Mismanagement Petitions: The Supreme...
The role of the National Company Law Tribunal ("NCLT") as a specialised forum under company law has often led to questions around the exact scope of its jurisdiction.
Can a Trade Mark be opposed in India before it is Advertised for Opposition?
In India, the law provides for formal opposition to a trademark application only after it is advertised, but can a third party intervene even during the pre-advertisement stage?
Essential Clauses in a Contract – Force Majeure in light of Regulatory Shifts and Co...
In August 2025, Dream11, an Indian fantasy sports platform, terminated its Rs. 358 Crore sponsorship agreement with the Board of Control for Cricket in India ("BCCI").
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