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Regulatory Updates

Articles

Anti-dilution protection in shareholders agreement - Implementation under Indian laws

Anti-dilution protection is one term which is present in almost every investment transaction. From the perspective of the founders, especially in case of a start-up or an early stage company, it is very important to understand the implications of having

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By Paul Albert almost 6 years ago
Determination of Significant/Ultimate Beneficial Ownership under the Indian Laws and Laws of other jurisdictions

The global scenario was riddled with the issue of money laundering, bribery, corruption, insider trading, tax fraud, terrorist financing and other illegal activities. These global issues were suggested to be combated by the Financial Action Task Force (FATF), an inter-governmental

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By Spandan Saxena almost 6 years ago
Contract Labour: Principal Employers Responsibilities

The Contract Labour (Regulation and Abolition) Act, 1970 (the “Act”) is one of the most significant labour legislations in India as the objective of the Act is to prevent exploitation of blue-collar workers and ensure facilitation of better conditions of

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By Paul Albert almost 6 years ago
Mumbai ITAT Provides Further Relief and Clarity on Valuation of Preference Shares

ACIT v Golden Line Studio Pvt. Ltd. ITAT, Mumbai I.T.A. No. 6146/Mum/2016 (Assessment Year 2011-12) Judgment date: 31/8/2018 Factual Matrix of the Dispute The case revolves around an instance of issuance of non-convertible redeemable preference shares (“RPS”) by a company

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By Avaneesh Satyang almost 6 years ago
Corporate Social Responsibility (CSR) Contributions in Incubators

Every company having a net worth of INR 500 crore or more, or turnover of INR 1000 crore or more or a net profit of INR 5 crore or more during the immediately preceding financial year is subject to the

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By Avaneesh Satyang almost 6 years ago
Aadhaar - The Supreme Court of India weighs in

In the landmark judgment of Justice K.S Puttaswamy (Retd) and Another v. Union of India and Others[1] (“Aadhaar Judgment”), the Hon’ble Supreme Court of India has finally looked into the constitutionality and certain other issues in relation to the Aadhaar

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By Manas Ingle almost 6 years ago
Data Localisation: India's policy framework

The Personal Data Protection Bill, 2018 (“Bill”) and the Data Protection Committee’s (“Committee”) Report (released on 27 July 2018) contains the framework and the policymakers’ insight on protection of personal data in India. The recent Draft e-commerce policy indicates Government’s

By Sharda Balaji almost 6 years ago
M & A: Different structures and a comparative

Acquisition of an entity can be undertaken in a number of ways such as an asset transfer, stock purchase, share swap, etc. It is critical to have certainty on the mode or structure of acquisition from the initial stage itself

By Sharda Balaji almost 6 years ago
Fund raising and valuation: Company can choose the methodology

The recent ruling by the income tax appellate tribunal (“Appellate Tribunal”) of Jaipur dated 12 July 2018 in the case of Rameshwaram Strong Glass Private Limited v ITO has come as a significant relief for tax payers. In this matter,

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By Paul Albert almost 6 years ago
Significant Beneficial Ownership: Who is the real owner of the shares?

The recent changes to Section 90 of Companies Act, 2013, is to determine the identity of the person behind the curtain who is having a significant ownership of the company and is essentially controlling the management and daily affairs of

By Sharda Balaji almost 6 years ago
Jurisprudence of Corporate Criminal Liability of Directors

Gone are the times when the world viewed Indian Companies as ‘family businesses’. With time, the structures adopted in Indian companies have grown increasingly specialized and complex, with specific directors being nominated to take charge of specified activities of the

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By Avaneesh Satyang almost 6 years ago
Fund Formation: On-Shore and Off-Shore Structures

Global interest in the LP (Limited Partner) ecosystem, for investments in India focused businesses, is at an all-time high. According to recent surveys, about 108 India focused private equity firms are in the market looking to raise funds. The first

By Sharda Balaji almost 6 years ago