The Reserve Bank of India, through its Notification No. FEMA 13 (R)/2016-RB dated 1st April, 2016, replaced the Foreign Exchange Management (Remittance of Assets) Regulations, 2000 (“Old Remittance Regulations”) with Foreign Exchange Management (Remittance of Assets) Regulations, 2016 (“New Remittance Regulations”). Though, largely the New Remittance Regulations are the same as the Old Remittance Regulations, there are a few changes that need to be highlighted. This article will bring out a detailed comparison of both the Regulations highlighting the additions and deletions.
Articles on "FEMA"
Foreign Exchange Management (Remittance of Assets) Regulations, 2016
Changes in FDI in E-commerce and Insurance Sector
Date posted: Wednesday 6 April 2016
Laws:FDI, FDI in Ecommerce Sector, FEMA, Insurance Sector
As per the ‘Consolidated FDI Policy Circular 2015’ issued by the Department of Industrial Policy and Promotion (“DIPP”), FDI upto 100% under automatic route is permitted in Business to Business (“B2B”) e-commerce. However, no FDI was permitted in Business to Consumer (“B2C”) e-commerce.
The DIPP, through Press Note No. 3 (2016 series) dated 29th March 2016, has permitted, with immediate effect, FDI in B2C e-commerce subject to certain conditions.
The notification, which is expected to redefine a section of the online retail industry in the country, was long awaited by e-commerce firms – both Indian companies such as Flipkart and Snapdeal, and subsidiaries of global giants such as Amazon India and Ebay, and several brick-and-mortar companies that use the marketplace model.
This article will provide you with detailed conditions subject to which the FDI has been permitted in B2C e-commerce.
Reforms in Foreign Direct Investment Policy (Part –II)
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.
Reforms in Foreign Direct Investment Policy (Part –I)
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.
Update of small but significant changes in Corporate Law
Date posted: Saturday 24 October 2015
Laws:Companies Act 2013, FEMA, SEBI
In the past few weeks, there have been small but important changes in rules and regulations of SEBI, FEMA and Companies Act. This article will provide you with a summary of these newly introduced changes.