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Changes, Challenges and Controversies in Corporate Law

Reforms in Foreign Direct Investment Policy (Part –II)

Date posted: Saturday 5 December 2015
Laws:,

On November 10, 2015, the eve of Diwali, the Ministry of Commerce and Industry, Department of Industrial Policy and Promotion (“DIPP”) issued a Press Note to introduce Foreign Direct Investment (“FDI”) reforms and liberalisation in regards to 15 major sectors of the economy including defence, banking, construction, single brand retail, broadcasting and civil aviation, with an aim to boost the investment environment and bring in more foreign investments in the country.
As a follow-up to the Foreign Direct Investment (“FDI”) policy changes announced by the Government vide Press Release dated November 10, 2015, the DIPP has released Press Note 12 of 2015 notifying the amendments to FDI Policy effective November 24, 2015.
This article, being the second part of these series of “Reforms in Foreign Direct Investment Policy” will give you a detailed understanding of changes in regulations of FDI by Companies, Trusts or Partnership Firms Owned & Controlled by Non-Resident Indians (“NRIs”), Establishment or transfer of Indian companies from resident Indian citizens to non-resident entities, Levels of Approvals for Cases under Government Route, FDI in Construction Sector, Defence Sector, Agriculture and animal husbandry, Plantation Sector, Broadcasting Sector, Civil Aviation, Satellites- establishment and operation, Credit Information Companies (CIC), Duty-free shops, Banking Private Sector and FDI by way of swap of shares.


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Reforms in Foreign Direct Investment Policy (Part –I)

Date posted: Saturday 28 November 2015
Laws:,

On November 10, 2015, the eve of Diwali, the Ministry of Commerce and Industry, Department of Industrial Policy and Promotion (“DIPP”) issued a Press Note to introduce Foreign Direct Investment (“FDI”) reforms and liberalisation in regards to 15 major sectors of the economy including defence, banking, construction, single brand retail, broadcasting and civil aviation, with an aim to boost the investment environment and bring in more foreign investments in the country.
As a follow-up to the Foreign Direct Investment (“FDI”) policy changes announced by the Government vide Press Release dated November 10, 2015, the DIPP has released Press Note 12 of 2015 notifying the amendments to FDI Policy effective November 24, 2015.
This article, being the first part of these series of “Reforms in Foreign Direct Investment Policy” will give you a detailed understanding of the changes in definition for FDI, reforms for FDI in LLPs, Single Brand Retail Trading and foreign investment into an Indian company engaged only in the activity of investing in the capital of other Indian company/ies.


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Swachh Bharat Cess

Date posted: Saturday 21 November 2015
Laws:

A campaign by the name of “Swachh Bharat Abhiyan” was launched on 2nd October, 2014, to accomplish the vision of a ‘Clean India’ by 2nd October 2019, the 150th birthday of Mahatma Gandhi. This being one of the pet projects of Prime Minister Narendra Modi, in the Finance Act, 2015, many benefits were introduced to promote this mission. Any income received by a person on behalf of the Swachh Bharat Kosh or the Clean Ganga Fund set up by the Central Government has been exempted. Also, Swachh Bharat Kosh has been added to the list of institutions, contribution to which is eligible for 100% deduction u/s 80G of the Income Tax Act.
In furtherance of NDA Government’s commitment towards ‘Clean India’, Swachh Bharat Cess has been introduced with effect from 15th November, 2015. Swachh Bharat cess is not another tax but a step towards involving each and every citizen in making contribution to Swachh Bharat. The government plans to use proceeds from this cess exclusively for Swachh Bharat initiatives.
This article shall provide you with an overview of the legal provisions as well as the clarifications issued for Swachh Bharat Cess.


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Small Shareholders’ Director

Date posted: Saturday 31 October 2015
Laws:

With the advent of Companies Act, 2013, many new concepts and provisions have been introduced. Many old concepts have also been revisited and the provisions have been changed. This week we are going to elaborate on the concept of Small Shareholder’s Director and provisions relating to the same in Companies Act, 2013 (“the Act”) and its relevant rules.


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