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Digital lending in India- Move towards regulation, Shilpa Mankar Ahluwalia and Vrinda Pareek, Shardul Amarchand Mangaldas & Co

Digital lending in India: Move towards regulation

By Shilpa Mankar Ahluwalia and Vrinda Pareek, Shardul Amarchand Mangaldas & Co
On 15 January 2021, the Delhi High Court directed the government and the Reserve Bank of India (RBI) to respond to a writ petition filed by Dharanidhar Karimojji (petition) seeking the regulation of digital...

Future legal leaders

India Business Law Journal reveals 50 up-and-coming lawyers who are making a name for themselves in the profession Access The List In a year where leadership has never been a more crucial quality, India Business Law...
India Business Law Journal

Wisdom for a new year

Look very carefully before you leap As the recent furore about WhatsApp’s plans to update its privacy policy suggests, the devil can lie in the detail. Many among WhatsApp’s whopping 1.5 billion users have voted with...
Crypto-crossroads

Crypto crossroads

Much like its value, the regulatory journey of bitcoin has had its ups and downs in India. With the recent jump in value, how will regulators react? Sourish Mohan Mitra reports Trading in bitcoins has...
India law firms- deals of the year 2020

Deals of the Year

India Business Law Journal reveals the most significant deals and disputes of 2020 and the law firms that worked tirelessly in bringing them to fruition. By Rebecca Abraham The year gone by has been unlike...
A new beginning for NCDs and commercial papers, Sawant Singh and Aditya Bhargava, Phoenix Legal

A new beginning for NCDs and commercial papers

By Sawant Singh and Aditya Bhargava, Phoenix Legal
The Reserve Bank of India (RBI) recently introduced draft directions on the issue of commercial papers and non-convertible debentures (NCDs) with a maturity of less than one year. The regulatory framework for these instruments...
RBI’s current account opening rules strengthen credit discipline, Nishtha Arora and Ayushi Parmani, SNG & Partners

RBI’s current account opening rules strengthen credit discipline

By Nishtha Arora and Ayushi Parmani, SNG & Partners
To improve credit discipline among borrowers, the Reserve Bank of India (RBI) issued a circular in August 2020 on the opening of current accounts (guidelines). Since May 2004, the RBI has required borrowers to...
States can grow through nurturing neo agriculture, Shantanu Jindel and Vidur Prabhakar, J Sagar Associates

States can grow through nurturing neo agriculture

By Shantanu Jindel and Vidur Prabhakar, J Sagar Associates
Setting up a company depends on how business people view circumstances. Factors such as infrastructure, stamp duty laws, domestic and international connectivity, the policies of state governments, the availability of labour and talent, and...
RBI ending the party for dividends, Sawant Singh and Aditya Bhargava

RBI ending the party for dividends

By Sawant Singh and Aditya Bhargava, Phoenix Legal
Acting on its deserved reputation for hawk-eyed vigilance, in April 2020, the Reserve Bank of India (RBI) directed banks to refrain from making dividend payouts for the financial year ending 31 March 2020. This...
Changing regulatory landscape of AIFs, Nivedita Nivargi and Vineetha Stephen

Changing regulatory landscape of AIFs

By Nivedita Nivargi and Vineetha Stephen, Samvad Partners
The regulatory framework governing alternative investment funds (AIF) has recently been amended in important ways, clarifying the regulatory intent of the Securities and Exchange Board of India (SEBI).The first key amendment was the Securities...
Keeping the power on during insolvency, Abhishek Nath Tripathi and Vedant Kumar

Keeping the power on during insolvency

By Abhishek Nath Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors
The National Company Law Appellate Tribunal (NCLAT) in Gujarat Urja Vikas Nigam Ltd (GUVNL) v Yes Bank Limited recently confirmed a National Company Law Tribunal (NCLT) decision restraining GUVNL from terminating the power purchase...
Pulling the plug

Pulling the plug

The government's plan to cap foreign investment in digital media aims to control the influence of online news, and curb fake news, but the legislation leaves a lot of questions unanswered despite a clarification...
Reforms flagged for shareholding in private sector banks

Reforms flagged for shareholding in private sector banks

Promoters of private sector banks may be allowed to retain their share-holding up to 26% if the Reserve Bank of India (RBI) accepts suggestions of an internal working group (IWG) set up to review existing...
Shilpa Mankar Ahluwalia,Himanshu Malhotra, Shardul Amarchand Mangaldas & Co

UPI transaction caps set for third party app providers

By Shilpa Mankar Ahluwalia and Himanshu Malhotra, Shardul Amarchand Mangaldas & Co
The National Payments Corporation of India (NPCI), the umbrella body responsible for the operation and management of the united payments interface (UPI), issued a circular dated 5 November 2020 on Guidelines on Volume Cap...
SEBI Phoenix legal

SEBI’s awkward two-step on recent changes

By Sawant Singh and Aditya Bhargava,Phoenix Legal
The Securities and Exchange Board of India (SEBI) recently introduced a series of changes to protect investors in listed issuance debt securities. The precursor to these changes was a little noticed amendment to the...
Tax kochhar & Co

No tax on foreign companies if no core activity

By Shahid Khan, Kochhar & Co
Double tax avoidance agreements (tax treaties) made with various countries provide that business income of an enterprise which is a tax resident of a foreign country is taxable only if it has or is...
Kunal Arora, Nayanika Majumdar, Lakshmikumaran & Sridharan farmers

New agriculture laws: A win-win for businesses, farmers?

By Kunal Arora and Nayanika Majumdar, Lakshmikumaran & Sridharan
In September 2020, three controversial agricultural acts became law. They are the Farmers’ Produce Trade And Commerce (Promotion and Facilitation) Act, 2020 (Trading Act), the Farmers (Empowerment and Protection) Agreement on Price Assurance and...
Sawant-Singh,-Aditya-Bhargava,-Phoenix-Legal credit

Changes to account opening – Help or hindrance?

By Sawant Singh and Aditya Bhargava, Phoenix Legal
On 6 August 2020, the Reserve Bank of India (RBI) issued directions to banks to regulate instances in which current accounts and cash credit (CC) or overdraft (OD) accounts may be opened. Previously, companies...
Anush Raajan and Swastika Chakravarti, Lakshmikumaran & Sridharan, Decree holders

Decree holders not financial creditors under IBC

By Anush Raajan and Swastika Chakravarti, Lakshmikumaran & Sridharan
The Insolvency and Bankruptcy Code, 2016 (IBC) was conceived as a solution to the growing problem of non-performing assets. Together with the Reserve Bank of India’s framework for the resolution of stressed assets, the...
Dipti-Lavya-Swain,-Shruti-Sundararajan,-HSA-Advocates infrastructure

Infra needs a development finance institution

By Dipti Lavya Swain and Shruti Sundararajan, HSA Advocates
A development finance institution (DFI), also known as a development bank or a development finance company, is one that provides funding for social development projects. Generally established and owned by governments or charitable institutions,...