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Deals of the Year 2016

INAUGURAL AWARDS SHINE A LIGHT ON THE BEST DEALS IN THE REGION AND THE LEGAL LUMINARIES WHO GUIDED THEM. NANDINI LAKSHMAN REPORTS The inaugural Asia Business Law Journal Deals of the Year Awards cover 60...
Lai Jihong Guidelines for foreign investment in Qianhai

Guidelines for foreign investment in Qianhai

By Jack Lai and Tina Lan, Zhong Lun Law Firm
The Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone has implemented more favourable pioneering and pilot projects than special economic zones, including: (1) launching a pilot project for cross-border renminbi loans and supporting enterprises...
Ben Chai and Cloud Li

Cloud service providers’ key compliance issues

By Ben Chai and Cloud Li, DaHui Lawyers
From both commercial and technological standpoints, cloud-based computing services (commonly referred to as cloud services) are often seen to be comprised of public cloud and private cloud services. Public cloud services can be further...
Li Wei and Tang Shi

Establishing a financial security review system

By Li Wei and Tang Shi, Grandway Law Offices
China has now established its national security review system on foreign capital merger and acquisitions (M&A) and the regulatory rules concerning the investment in banking by foreign strategic investors. However, there is not any...
Xie YongTao Pan-asset management concepts in regulating equity investment funds

Pan-asset management concepts in regulating equity investment funds

By Xie Yongtao, AnJie Law Firm
In September 2016, the Asset Management Association of China (AMAC) launched a new registration platform, dubbed the Asset Management Business Electronic Registration System, which is intended to gradually replace the old Private Equity Fund...
Wang Jihong

Consortium agreements: Key to a happy ‘marriage’

By Wang Jihong and Li Xiaodan, Zhong Lun Law Firm
To meet the requirements of government, social investors often form a consortium to make a joint bidding for PPP/concession projects. It is common to participate as a consortium in PPP/concession projects that require large...
Lin Zhong Domestic regulation of overseas M&A

Domestic regulation of overseas M&A

By Lin Zhong, EY Chen & Co. Law Firm
The relevant departments of the State Council have established a legal framework for outbound investment. The main rules include the Ministry of Commerce’s (MOFCOM) Administrative Measures for Outbound Investment, the National Development and Reform...
Zhao LiHui Due diligence in M&A transactions aimed at IP

Due diligence in M&A transactions aimed at IP

By Zhao Lihui, East & Concord Partners and Zhang Changdan, Renmin University of China
At a time when artificial intelligence (AI) is making monumental strides, technology and intellectual property (IP) hold the key to victory in business competition. General legal due diligence for any business entity transaction usually...
Sun Jinline 孙巾淋

Burden of proof in trade secret infringement suits

By Sun Jinlin, Jincheng Tongda & Neal
In China, trade secret infringement suits involve proof of at least two things: the plaintiff has a trade secret; and the defendant infringed that secret. However, to obtain substantial damages, presenting grounds for the...
Han YuFeng

Enhanced IP civil protection as seen from typical cases

By Han Yufeng, Rui Bai Law Firm
The issue of insufficiently intense civil judicial protection of intellectual property (IP) has long drawn attention. This has mainly been manifested as follows: (1) difficulty in adducing the evidence relating to the compensation of...
Chloe Lin

Validity of arbitration clauses and scope of court discretion

By Chloe Lin, Martin Hu & Partners
Arbitration, as a commonly used dispute resolution in international commercial disputes, is being accepted or selected by an increasing number of Chinese enterprises due to its broad and effective international enforcement mechanisms. Complementary to...
Jason Xia

Latest regulatory trends on the use of insurance funds

By Jason Xia, Wintell & Co
Since the second half of 2015, insurance funds have become one of the few “hot spots” in the capital market. Insurance companies frequently buy the shares of listed companies, which not only leads to...
Jessie Fang

Registration of onshore guarantees for offshore indebtedness

By Jessie Fang, AllBright Law Offices
Onshore guarantees for offshore indebtedness – commonly known as Nei Bao Wai Dai (NBWD) – refers to cross-border arrangements where a guarantee is provided by an onshore guarantor for a debt owed by an...
Jiang FengTao and Liu Bing

Listing of New Third Board companies on ChiNext

By Jiang Fengtao and Liu Bing, Hengdu Law Firm
The Development Plan for National Strategic Emerging Industries during the 13th Five-Year Plan Period (2016-2020), issued by China’s State Council in December 2016, said that a pilot programme for switching companies listed on the...
Matthew Lau

Tax considerations for investment in US

PRC enterprises encounter a myriad of domestic and foreign tax issues when expanding overseas. This article is an overview of certain significant US tax issues that a PRC enterprise should be aware of in...
global economic and political uncertainties

New dawn

Challenges as well as global economic and political uncertainties in the year of the rooster. Richard Li reports on some of their biggest concerns The Swiss resort of Davos in January 2017 saw the first Chinese president attend the...
Mirza Manraj from BVI comparative study of CRS and FATCA

BVI comparative study of CRS and FATCA

The Common Reporting Standard (CRS) is the standard for automatic exchange of financial account information produced by the Organization for Economic Co-operation and Development (OECD), which provides for exchange of client due diligence (CDD)...
Greater tax connection

Greater tax connection

The implementation of CRS in China has many worried. Antoine Kuo, the founder of a wealth management company, analyzes what the system means for entities with Chinese tax nationality With a view to promoting the international exchange of tax...
DPS Parmar and Aniruddh Singh Protecting the business of professional sports leagues

Protecting the business of professional sports leagues

By DPS Parmar and Aniruddh Singh, LexOrbis
Sports events are among the most popular forms of entertainment available via the media. There is a craze for live events such as Indian Premier League cricket, Indian Super League football and even kabaddi...
L Badri Narayanan and Amar Gahlot India’s new ‘benami’ regime to deter sham land transfers

India’s new ‘benami’ regime to deter sham land transfers

By L Badri Narayanan and Amar Gahlot, Lakshmikumaran & Sridharan
India has had a law prohibiting benami transactions since 1988. Benami transactions involve transfer of property in the name of a person who acts as a front, with the consideration provided by another person....
Sawant Singh and Aditya Bhargava Foreign portfolio investors still waiting for easier entry

Foreign portfolio investors still waiting for easier entry

By Sawant Singh and Aditya Bhargava, Phoenix Legal
To deepen the Indian corporate bond market and broaden the sources of funding available to Indian borrowers, the 2016-17 budget announced that foreign portfolio investors (FPIs) would be allowed to invest in unlisted debt...
Deepak Kumar Thakur and Shruti Deb Disqualification of bidders: Overreach or a safeguard?

Disqualification of bidders: Overreach or a safeguard?

By Deepak Kumar Thakur and Shruti Deb, HSA Advocates
Public procurement is a process by which a public authority procures goods, works or services using public funds, in execution of its duties and functions. The public procurement process is key to ensuring fairness,...
Iqbal Khan and Tanavi Mohanty Companies to face SEBI’s tightened merger regime

Companies to face SEBI’s tightened merger regime

By Iqbal Khan and Tanavi Mohanty, Shardul Amarchand Mangaldas
The Securities and Exchange Board of India (SEBI), in its meeting on 14 January, proposed revisions to the regulatory framework governing the merger of an unlisted company with a listed company. The existing regime comprises (a)...
Manishi Pathak The Rights of Persons with Disabilities Act, 2016

The Rights of Persons with Disabilities Act, 2016

By Manishi Pathak, Cyril Amarchand Mangaldas
The Rights of Persons with Disabilities Act, 2016, was enacted to bring the law in India in line with the Convention on the Rights of Persons with Disabilities, 2006, to which India is a...
Atul Dua and Anuradha No internet connectivity on planes over Indian airspace

No internet connectivity on planes over Indian airspace

By Atul Dua and Anuradha, Seth Dua & Associates
Each time you board an aircraft to fly in India or even overfly the country, you are journeying back in time. An iron curtain prohibits flyers in Indian airspace from enjoying Wi-Fi connectivity. While...
William Vivian John and Tanaya Sanyal Decoding the FDI policy liberalization in food retail

Decoding the FDI policy liberalization in food retail

By William Vivian John and Tanaya Sanyal, Luthra & Luthra Law Offices
While agriculture employs almost half of India’s population, it contributes only about 14% to the nation’s GDP, resulting in low per capita income of the workforce engaged in the sector. And, while India produces...
Roland Mueller and Eric Flueckiger Swiss real estate for Chinese investors

Swiss real estate for Chinese investors

The acquisition of Swiss real estate by non-Swiss residents is regulated by the Swiss Federal Act on the Acquisition of Real Estate by Persons Abroad, commonly referred to as Lex Koller (Arnold Koller was...
Vivek Vashi and Utkarsh Srivastava, Supreme Court validates two-tier arbitration process

Supreme Court validates two-tier arbitration process

By Vivek Vashi and Utkarsh Srivastava, Bharucha & Partners
A three-judge bench of the Supreme Court has upheld the validity of a two-tier arbitration procedure in India. This issue was referred to a larger bench owing to a split decision of a two-judge...
Harish Kumar and Vikas Gaur, Regulatory view of ‘control’ puts investors in catch-22

Regulatory view of ‘control’ puts investors in catch-22

By Harish Kumar and Vikas Gaur, Link Legal India Law Services
Historically, “control” in corporate parlance has been understood as positive control. As per a 2009 press note from the Department of Industrial Policy and Promotion, control means the power to appoint a majority of...
Cheung Kwok Kit A Hong Kong solicitor’s duty of confidentiality is fourfold.

Trust and truth abide

It is not uncommon for law firms in Hong Kong to come across potential clients who refuse or are reluctant to disclose their identity due to fear of disclosing confidential information. While it is...
Gautam Khurana and Randy Whitmeyer from India Law Offices on an article about Tip for US Companies Doing Business in India

Top tips for US companies doing business in India

By Gautam Khurana, India Law Offices and Randy Whitmeyer, Morningstar Law Group
India offers many advantages for US companies, including English language proficiency, a vibrant technology industry, an educated workforce and lower costs, as well as a number of pitfalls to avoid. Here are some quick...
Xie Xin

Individual tax risks with M&A

Among the many taxation issues involved in company mergers and acquisitions (M&A), this article focuses on the individual income tax issues faced by natural-person shareholders of a target company for transferring shares in the...
Amit Aggarwal and Rahul Sud Dishonour of post-dated cheques taken as security

Dishonour of post-dated cheques taken as security

By Amit Aggarwal and Rahul Sud, SNG & Partners
Using a post-dated cheque (PDC) as a security for repayment of a loan is a common practice among lenders and financial institutions. An unresolved question is whether issuing a PDC for the satisfaction of...
Deng Youping and Chen Shu

Compensation and validity of non-compete clauses

The term “non-compete” means that an employer and a senior officer, senior technical person or other person with a confidentiality obligation (target employee) agrees that, for a certain period of time, not exceeding two...
best indian law firms 2016

Indian Law Firm Awards 2016

Indian Law Firm Awards 2023 Indian Law Firm Awards 2022 Indian Law Firm Awards 2021 Indian Law Firm Awards 2020 Indian Law Firm Awards 2019 Indian Law Firm Awards 2018 Indian Law Firm Awards 2017 Indian Law Firm Awards 2015 Indian Law...
PM DEVAIAH Ease of doing business: myth or battle cry?

Ease of doing business: myth or battle cry?

Centre-state differences undermine efforts to present India as a favourable commercial destination, argues PM Devaiah While the great Indian juggernaut of liberalization chugs along, the never ending debate on improving the ease of doing business continues...

Money matters

L Badri Narayanan and Amar Gahlot analyse what the budget means for business. The government has been fairly active over the past year liberalizing certain sectors and implementing other business-friendly schemes. Its drastic demonetization move dominated headlines as efforts...

Less for more: Thailand’s government backs digital services

By Harit Na Pomberja, Silk Legal
In September 2016, Thailand’s government officially introduced the country’s new economic model known as “Thailand 4.0” with immediate effect. Unlike the previous economic model, which focused on heavy industries, export promotion and inbound foreign...

Singapore’s conduit to overseas opportunities

By Ronnie Tan, Central Chambers Law Corporation
Singapore’s government agencies and organisations involved in promoting commercial and business activities have made connections with their counterparts in other jurisdictions and are coming up with practical initiatives. With expected headwinds in the world economy,...

2017… What’s ahead?

What does the Year of the Rooster have in store for Asia’s law firms and in-house community? John Church asks some cool heads for their take on things The cock has crowed to herald the Year of...

Contractualization issue far from simple in the Philippines

By Neptali B. Salvanera, ACCRA Law offices
“Contractualization” was one of the hot issues in the May 2016 Philippine elections. In one of the presidential debates, all the then candidates for president, including now President Rodrigo Duterte, vowed to end contractualization....
Can concession agreement disputes be arbitrated in China?

Can concession agreement disputes be arbitrated in China?

Legal provisions in China have been fairly inconsistent when it comes to the question of whether disputes in relation to concession agreements should be referred to civil courts or administrative courts. According to article...

Due diligence vital for reward in India’s power sector

By Wang Jihong & Liu Ying Zhong, Lun Law Firm
India’s economic growth has been spectacular in recent years, gaining a reputation as one of the fastest growing economies in the world. GDP increased 7.6% in 2015, surpassing China and becoming the No. 1...
A push for procedural certainty

A push for procedural certainty

Gowree Gokhale and Jaideep Reddy analyse the problems of delegated legislation and suggest ways to resolve them. While the constitution and central and state statutes are the basis of India’s legal regime, delegated (or subordinate)...

Key issues and a possible fix for capital call financing

By Stacey Overholt and Lorraine Pao, Maples and Calder (Hong Kong)
Cayman Islands private equity (PE) funds are often established using a Cayman Islands (CI) exempted limited partnership (ELP). It has become increasingly common for an ELP to use credit facilities secured by the right...
Dispute resolution provisions within AIIB contracts

Dispute resolution provisions within AIIB contracts

The Asian Infrastructure Investment Bank (AIIB) was created in 2015 with clear aims to support the building of infrastructure and establishment of multilateral developing agencies in the Asia-Pacific region. For stakeholders with the AIIB,...

Personal data protection within electronic systems

By Ahmad Jamal Assegaf & Indra Pambudy, Lubis Ganie Surowidjojo
On 1 December 2016, the Minister of Communication and Informatics Regulation No. 20 of 2016 on the Protection of Personal Data Within an Electronic System came into force in Indonesia. Regulation No. 20 legislated...
First tribunal decision for breaches of disclosure obligations

First tribunal decision for breaches of disclosure obligations

Hong Kong’s Market Misconduct Tribunal (MMT) found in November 2016 that AcrossAsia Limited (AAL), its former chairman and independent non-executive director Albert Saychuan Cheok, and its chief executive officer and executive director Vicente Binalhay...

India’s unique solutions for IP compensation

By Pravin Anand and Raunaq Kamath, Anand and Anand
Every law student is familiar with the Latin maxim “ubi jus ibi remidum”, which means that there is no right without a remedy. In fact, the strength of a legal system is dependent in...
Draft 2016 Foreign Investment Catalogue

Draft 2016 Foreign Investment Catalogue: more sectors open

On 7 December 2016, the National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) released a draft 2016 version of the Catalogue for the Guidance of Foreign Investment Industries for public comment...

‘Shared economy’, challenges of India’s employment laws

By Anshul Prakash & Vinay Joy, Khaitan & Co
India, in line with its global peers, is witnessing a visible technology-driven evolution with newer tech platform-based models quietly unsettling traditional business models. As is always the case, the existing legal framework finds itself...
Banking on Asia

Banking on Asia

The Asian Infrastructure Investment Bank’s general counsel, Gerard Sanders, talks to John Church about his unique role in building a legal division and helping to chart the bank’s course. Building a major bank from scratch is a monumental...
China enhances data privacy protections

China enhances data privacy protections

On 19 December 2016, a draft of the PRC General Principles of the Civil Law was submitted to the NPC standing committee for a third reading. The draft prohibits anyone from collecting, using, processing,...

Prevention, relief measures for risk in outbound M&A

By Echo Liu, Boss & Young
PRC enterprises, especially state-owned enterprises (SOEs) or state-backed SOEs, started outbound mergers and acquisitions (M&A) a long time ago, after China’s President Xi Jinping put forward the “One Belt, One Road” (OBOR) strategy, and...
Environmental Protection Tax

China issues Environmental Protection Tax Law

Just days before the New Year, China’s National People’s Congress (NOC) standing committee passed the country’s first Environmental Protection Tax Law. The law will replace the existing pollutant discharge fee system with a pollution tax...

Foreign fund access still uncertain under new policy

By Elaine Luo, AllBright Law Offices
On 12 January 2017, China again loosened foreign investment restrictions in the financial industry by issuing the Notice on Several Measures for Expansion of China’s Opening up to the Outside World and Active Utilization...
Andrew Lee joins Hogan Lovells’ ACER team

New partner joins Hogan Lovells’ ACER team

Hogan Lovells announced that Andrew Lee has joined the firm’s antitrust, competition and economic regulation (ACER) practice as a partner in its Washington DC office. Lee joins the firm from Steptoe & Johnson, where...

Litigation specialist hire for AnJie

Veteran lawyer Pan Xiang has recently joined AnJie Law Firm’s Shenzhen office. Pan became a practicing lawyer in 1998 and his practice mainly focuses on litigation and arbitration, insurance and reinsurance, investment and financing,...

Just relax

Foreign investors into china should be aware that the country’s foreign investment regulation is changing from an approval regime to a record-filing system. Peter Zhang, an experienced in-house counsel in a foreign-invested company, analyzes the practical...

Reference to labour court or tribunal not to be dismissed in default

Bombay High Court recently held that when a dispute is referred to a labour court or tribunal, the dispute has to be decided on merits and the court or tribunal has no power dismiss...
law of succession

Nomination cannot override law of succession

In Shakti Yezdani and Another v Jayanand Jayant Salgaonkar and Others, a division bench of Bombay High Court has resolved the differences between two earlier decisions by single judges in cases involving conflicts between the rights...

Canned soup?

What future is there for brewing regional trade arrangements when striking a winning formula is akin to making sense of alphabet soup? Andrew Godwin explains The withdrawal of the US from the Trans-Pacific Partnership (TPP) means that...
Group administrators not responsible for social media content

Group administrators not responsible for content

In Ashish Bhalla v Suresh Chawdhary & Ors, Delhi High Court recently decided that administrators of social media groups cannot be held responsible for defamatory statements made by any other member of the group. The...

IP expert joins ONC

ONC Lawyers has announced the addition of a new partner Lawrence Yeung Sin Hang to its intellectual property (IP) and technology practice. Yeung practices mainly in the areas of IP portfolios, IP asset management, global...
Enforcement of arbitral awards

Enforcement of arbitral awards clarified

Delhi High Court has held that a challenge to the enforcement of an arbitral award in a case where arbitration proceedings commenced prior to 23 October 2015 would be governed by the unamended Arbitration...
two-tier arbitration

Two-tier procedure permissible

Athree-judge bench of the Supreme Court recently held that settlement of disputes or differences through a two-tier arbitration procedure between the parties is permissible under Indian law. In M/s Centrotrade Minerals & Metal Inc v Hindustan...
SEBI evaluating board of directors

SEBI issues guidance on evaluating board of directors

The Securities and Exchange Board of India (SEBI) released a guidance note dated 5 January on the evaluation of the board of directors of a listed company. The note aims to help companies evaluate...
Investment Arbitration Rules

New rules for a new year

The Singapore International Arbitration Centre (SIAC) Investment Arbitration (IA) Rules, tailored for investor-state disputes, came into force on 1 January 2017. The IA rules follow certain aspects of the SIAC rules (updated in 2016),...
startups issuing convertible notes

Startups can issue convertible notes to foreign investors

The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (TISPRO), through a notification on 10 January to allow...
Hu Wenchi joined Latham & Watkins

Former senior SEC official joins Latham & Watkins

Latham & Watkins announced that Hu Wenchi has joined the firm in New York as a partner in the corporate department and financial institutions group focusing on financial regulation, risk management and market infrastructure. Hu joins...

Final guidelines issued for determining poem

On 24 January, the Central Board of Direct Taxes released the final guidelines to determine the place of effective management (POEM) of foreign companies. POEM is relevant in deciding the residential status of a company....
Can concession agreement disputes be arbitrated in China?

Can concession agreement disputes be arbitrated in China?

Legal provisions in China have proven to be fairly inconsistent when it comes to the question of whether disputes in relation to concession agreements should be referred to civil or administrative courts. According to...
COSCO’s non-public issuance

COSCO’s non-public issuance involves complex issues

COSCO Shipping Development announced its proposed non-public issuance of A shares, which involved several complex legal issues under Hong Kong’s Takeovers Code, said the legal counsel involved. The A shares would be offered to no...

In-house agenda

HONG KONG Hong Kong events showcase best legal minds The Hong Kong Corporate Counsel Association (HKCCA) ended the year with some topshelf functions attracting some of the best legal minds in the city. On 8 December, the...
Agreement with Japan amended

Agreement with Japan amended

The Indian government announced in November 2016 the signing of a protocol amending the agreement with Japan for the avoidance of double taxation and fiscal evasion. The amendments entered into force on 29 October...
India, South Korea sign tax treaty

India, South Korea sign revised tax treaty

The Indian government on 26 October 2016 announced the signing of a revised agreement with South Korea for the avoidance of double taxation and fiscal evasion. Provisions of new agreement will have effect in...
China scrutinizes non-resident enterprises

China scrutinizes non-resident enterprises

An increasing number of cases are being published in which PRC tax authorities are reported to have deemed a non-resident enterprise to have a permanent establishment (PE) due to its services performed in China. According...
Thailand’s-cabinet-approves-trade-competition-act-L

Thailand’s cabinet approves trade competition act

After years of debate and various drafts proposed by interested parties, Thailand’s Cabinet finally approved the draft Trade Competition bill, proposed by the Department of Internal Trade, at a meeting on 11 October 2016. This...
Singapore fintech changes up a gear

Singapore fintech changes up a gear

On 1 December 2016, the Monetary Authority of Singapore (MAS), together with the Financial Services Sharing and Analysis Centre (FS-ISAC) jointly announced that they will be working together to establish an APAC Regional Intelligence...
Morgan Lewis plans bigger stake in China market

Morgan Lewis plans bigger stake in China market

Morgan Lewis is planning a significant boost to its practice in mainland China and Hong Kong under a proposal to take on a 13-partner team from another law firm, its chairperson says. “The new partners...
Khaitan takes two for tax

Khaitan takes two for tax

Abhishek Rastogi and Rashmi Deshpande have joined Khaitan & Co’s indirect tax practice in Mumbai as executive director and associate director, respectively. Rastogi, a chartered accountant, was previously a director with PwC, specializing in...
Bai Baoen and Zhou Zhaofeng from Fieldfisher merges with JS Partners

Fieldfisher merges with JS Partners

European law firm Fieldfisher announced its latest merger with Chinese firm JS Partners, creating another Swiss verein combination in China’s legal market that hopes to assist investors looking to plant capital overseas. “Through this merger,...
Link Legal ties up with DH Law

Link Legal ties up with DH Law

Link Legal India Law Services and DH Law Associates have combined their practices with effect from 1 January 2017. The merged entity, which will continue as Link Legal India Law Services, has 155 lawyers and...
Investors fly into GC Web Ventures

Investors fly into GC Web Ventures

DSG Consumer Partners and DSGCP Souza PCC have led a round of funding for GC Web Ventures, which hosts the online lending marketplace platform Indialends.com. Indialends.com, a financial technology start-up based in New Delhi, focuses...
China Business Law Journal

New challenges

The landscape of global economics and politics underwent surprising upheavals in 2016 and it may continue to evolve in the Chinese Year of the Rooster. 2017 is very likely to be another tough year for...
Nissan gets CCI green light to exit

Nissan gets CCI green light to exit

In November 2016, Ashok Leyland obtained approval from the Competition Commission of India (CCI) to buy out the stake of its Japanese partner, Nissan Motor, in three joint ventures the two companies had formed...
Australia renewable energy

Australia deal a gem for renewable energy

Norton Rose Fulbright advised as sponsor counsel on the development and financing of the 270MW Sapphire wind farm in Australia’s New South Wales (NSW) state. Once constructed, Sapphire will be the largest wind farm to...
AIFs not subject to capital gains exception

AIFs not subject to capital gains exception

On 2 May 2016, the Central Board of Direct Taxes issued an instruction clarifying that income from the transfer of unlisted shares shall be considered under “capital gains”, irrespective of the period of holding...

Philippine IPO cooks on ‘shakey’ investor interest

Latham & Watkins represented Deutsche Bank as the sole global co-ordinator and bookrunner in the IPO of Shakey’s Pizza Asia Ventures on the Philippine Stock Exchange (PSE). The IPO included a public offering in the...
double taxation avoidance agreement (DTAA)

India signs protocol revising tax treaty with Singapore

In a press note dated 30 December 2016, the Indian government announced the signing of the third protocol to amend the double taxation avoidance agreement (DTAA) between India and Singapore. The amendments introduced by...

Authorities to reconsider indirect transfer provision

On 21 December 2016, the Central Board of Direct Taxes (CBDT) released a circular containing responses to questions raised by foreign portfolio investors (FPIs), private equity and venture capital investors and other stakeholders on...
iNurture and Galileo in education tie-up

iNurture and Galileo in education tie-up

iNurture Education Solutions, a higher educational services company in India, has entered into a joint venture agreement with Galileo Global Education – the largest higher education company in Europe. The joint venture company will offer...
Spicejet to soar with Boeing fleet

Spicejet to soar with Boeing fleet

Low-cost airline SpiceJet has closed a deal with Boeing to purchase up to 205 next-generation Boeing aircraft. The total order – for 155 Boeing 737 MAX and up to 50 wide-bodied aircraft – is...
Zydus Healthcare snaps up Merck brands

Zydus Healthcare snaps up Merck brands

US pharmaceutical company Merck & Co, through its subsidiaries, has divested six of its brands to Zydus Healthcare. Zydus Healthcare, which is a subsidiary of Ahmedabad-based drug maker Zydus Cadila, acquired the brands Deca-Durabolin, Durabolin,...
Shenzhen-Hong Kong Stock Connect

Shenzhen-HK stock connect: ‘it’s complicated’

The creation of Shenzhen-Hong Kong Stock Connect was a complex process involving many difficult issues, including some that were different from the Shanghai-Hong Kong Stock Connect, said an expert. “A number of critical Hong Kong...
Louvre gains control of Sarovar Hotels

Louvre gains control of Sarovar Hotels

Louvre Hotels Group has acquired a majority stake in Sarovar Hotels, India’s largest independent hotel chain. Sarovar Hotels owns 75 hotels across India under three brands – Sarovar Premiere, Sarovar Portico and Hometel. The group...
Videocon, Dish TV signal mega merger

Videocon, Dish TV signal mega merger

The board of directors of direct-to-home (DTH) television operator Dish TV has approved a scheme of arrangement for an all-stock merger with Videocon d2h. The combined entity, which will be called Dish TV Videocon, would...

Louvre gains control of Sarovar Hotels

Luthra & Luthra advised the Serendipity Arts Trust on the Serendipity Arts Festival, which took place in Goa from 16 to 23 December. The festival celebrated the diversity of Indian art with a special...
EQT acquires Fertin Pharma

EQT acquires Fertin Pharma

Swedish private equity company EQT Mid Market has acquired Denmark-based Fertin Pharma, the world’s largest independent developer and manufacturer of medicated chewing gum, from the Bagger-Sørensen family. Fertin’s medicated chewing gum is produced primarily as...
Japan’s Mitsui buys Indo e-commerce

Japan’s Mitsui buys Indo e-commerce

Ashurst advised Japanese trading house Mitsui on its acquisition of a minority stake in Global Ecommerce Indonesia (GEI) over a 12-month period. The deal is part of US$100 million equity financing raised for GEI, led...
OmniActive adds spice with Indfrag

OmniActive adds spice with Indfrag

OmniActive Health Technologies has purchased an 85% stake in Indfrag, a Bengaluru-based supplier of natural ingredients for the health and nutrition industry, for US$50 million. The company is in talks to acquire the remaining...
Zico Shariah advisory service taps Indonesia potential

Zico Shariah taps Indonesia potential

Zico Law has established a shariah advisory service in Indonesia on the back of a rise in Islamic banking services in the country. As Indonesia’s government aims to triple the market share of Islamic banks...
Peugeot chases cars with CK Birla Group

Peugeot chases cars with CK Birla Group

French car manufacturer Peugeot is establishing joint ventures with two CK Birla Group entities – AVTEC and Hindustan Motors Finance Corporation. AVTEC is one of India’s largest independent manufacturers of powertrains and precision-engineered products. The...
KWM deconstruction a lesson for foreign tie-ups

KWM deconstruction a lesson for foreign tie-ups

The European partnership of King & Wood Mallesons (KWM) has recently been haunted by news of its personnel departure and possible takeover by others, but the law firm’s Swiss verein structure probably implies a...
Asia Business Law Journal

Much to crow about

Plenty in store in our journal as Year of the Rooster begins In Asia the Year of the Rooster has landed, and you may have noticed him greeting you on our cover! And while we...
Fairfax funding freight business

Fairfax funding freight business

Fairfax India Holdings Mauritius Investments is investing ₹2 billion (US$30 million) to acquire a 51% stake in Saurashtra Freight. The transaction is expected to close by the end of March. Saurashtra Freight will use the...
Brookfield to take towers from Reliance

Brookfield to take towers from Reliance

Reliance Communications (RCom) has signed a binding agreement with Brookfield Infrastructure and its institutional partners to sell its tower business in the largest investment to date by any overseas financial investor in India’s infrastructure...
General motors purchase cleared

General motors purchase cleared

The Competition Commission of India (CCI) has approved the proposed acquisition by General Motors Hong Kong (GMHK) of SAIC General Motors from SAIC Motor HK (SAIC HK). SAIC General Motors (formerly known as Shanghai General Motors...
PR specialist starts Lexblurb

PR specialist starts Lexblurb

Arti Mashru, the former head of business development at Economic Laws Practice (ELP), has launched her own communications consultancy, LexBlurb. The consultancy offers marketing and communications services exclusively to law firms and legal professionals...
CAM aims to advance with artificial intelligence

CAM aims to advance with artificial intelligence

Cyril Amarchand Mangaldas (CAM) has signed an agreement with Canada-based technology company Kira Systems to use its artificial intelligence software. CAM is Kira’s first law firm client in India. Kira’s software uses artificial intelligence to...
Link Legal adds associate partner

Link Legal adds associate partner

Rajdeep Choudhury has joined Link Legal India Law Services as an associate partner in its project claims management practice. Choudhury has 15 years of experience on projects, infrastructure, claims management and disputes. He advises contractors,...
Juris Corp partnership

Two rise to Juris Corp partnership

Juris Corp has promoted principal associates Nand Gopal Anand and Arunabh Choudhary to its partnership. Delhi-based Anand heads up the firm’s project finance and banking practice. He has advised banks and companies on project-related legal...
DPS Parmar joins LexOrbis

Former IPAB officer joins LexOrbis

LexOrbis has hired DPS Parmar, a former technical member (patents) of the Intellectual Property Appellate Board (IPAB), to head up its IPAB practice group. Parmar joined the Patent Office in 1983 and served in various...
Duane Morris & Selvam Capital Markets Cup

Charity cricket match supports Bal Asha Trust

On 21 January at the Mumbai Cricket Association (MCA) ground, a team of lawyers beat a team of bankers in a cricket match to win the sixth Duane Morris & Selvam Capital Markets Cup....
Business Law Journal, letter to the editor

A more holistic offering?

Dear Editor, I read the December 2016/January 2017 issue of India Business Law Journal with interest and while it’s good to see such a journal, I have the following comments. The journal includes several articles with...
India Business Law Journal

Look before you leap

Every policy tweak can be expected to have an equal, and often opposite, reaction This truism, which has its roots in Isaac Newton’s principles of motion published over 300 years ago, is arguably at the...
PK Malhotra advised on dispute resolution process

New mindset needed

As India aims to streamline its dispute resolution system, former law secretary PK Malhotra shares his views on what needs to change. PK Malhotra retired as India’s law secretary in April 2016. He is currently...

Kairos ’17 – Cultural and Literary Fest – NLU Delhi

  Kairos ’17 is the fourth edition of NLU Delhi’s annual cultural and literary fest with the theme “Break Free” and exciting performances by Begum X with Delhi Sultanate, Madboy/Mink, Aditi Mittal and many more exciting performances.  
the Indian Corporate Counsel Association (ICCA) General Counsel Conclave

Sun, sand and networking for GCs

More than 40 in-house lawyers, including heads of legal teams, attended a four day conclave from 2 February to 5 February organized by the Indian Corporate Counsel Association (ICCA). They included Mohit Shukla, managing director...

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