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The last quarter of 2019 saw a number of developments in the IBC landscape, both in terms of legislative and regulatory changes as well as landmark judgments. While some of the developments did clarify certain positions in law, some also added more ambiguity to the ever changing landscape.
This article mainly focuses on the legislative change brought under the IBC 2016 for the inclusion of restructuring processes for a Financial Service Provider, more specifically Non- Banking Financial Companies (NBFC). In light of this significant development, we have also analyzed the role of RBI for initiating any corporate resolution process under these new rules.
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The Finance Act of 2019 (hereinafter referred to as the “Finance Act”) came into effect on April 01, 2019 and proposed certain changes, primarily in context to the income tax rates for the fiscal year of 2019-2020. Part I of Chapter IV of the Finance Act also proposed amendments (“Amendment Provisions”) to the extant Indian Stamp Act of 1899 (hereinafter referred to as the “Stamp Act”).
The issue of party-appointed sole arbitrators was recently discussed by the Supreme Court of India in Perkins Eastman Architects DPC & Anr. v. HSCC (India) Ltd. . The key question before the Court was - whether a person having an interest or connection with the case can appoint an arbitrator?
GTDT – Market Intelligence – Private Equity 2019 – India
“Getting the Deal Through (“GTDT”) works with many of the best lawyers and law firms in the world to bring together a unique legal information resource, written by experts on each subject area, in every significant jurisdiction. GTDT is published by Law Business Research and its online research platform is used by thousands of law firms, universities, regulators, and corporate counsel at leading multinational organizations as a reliable, first port of call for any legal query worldwide. GTDT interviewed Vineetha MG, Neela Badami and Nisha Mallik in relation to the changing landscape of private equity practice in India.
The year 2019 saw a paradigm shift in the regulation of foreign investments in India. From the supersession of what was once the backbone of the regime, i.e. the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 (FEMA 20) to the bifurcation of investment instruments into debt and non-debt instruments, there has been a change in how foreign investments in India are regulated.