Other Briefings
Escrow Mechanism
May 10 – The Reserve Bank of India (RBI) has allowed AD Category – I Banks (AD Banks) to permit assurance of shares of an Indian company seized by non-residents subject to under the following situation: Assurance in favor of Indian banks in India Reason: Shares may be assured to secure credit facilities comprehensive to […]
Local DIN Holders in India Need to Submit PAN
May 9 – Earlier, India’s permanent account number (PAN) system was not the mandatory field for directors identification number DIN-1 eForm. So in order to avoid Duplicate DIN, it has been decided that all the DIN holders who have not furnished their PAN earlier at the time of obtaining DIN, are required to furnish their […]
Newer, Faster Approval Procedure for Businesses Underway
India will soon have a system in place that will simplify the process of approval for business projects, according to a government official. It will not only encourage investors to invest in India but also young entrepreneurs to start up their own businesses.
India Allows 100% FDI in Several Key Sectors
Apr. 7 – India’s Department of Industrial Policy and Promotion has released the “Consolidated FDI Policy – Circular 1 of 2011,” that will allow 100 percent FDI in the development and production of seeds and planting material, floriculture, horticulture, and cultivation of vegetables and mushrooms under controlled conditions. Furthermore, animal husbandry (including the of breeding […]
Changes on Pricing of Convertible Instruments
Apr. 6 – Companies are now free to lay down a formula to transform convertible instruments (like debentures, partly paid shares, preferential shares and the like) into equity in accordance with the guidelines of FEMA and SEBI. India’s Department of Industrial Policy of Promotion has also relaxed the rules and regulations for convertible instruments to […]
India Releases Third Consolidated FDI Policy
Removal of the condition of prior approval with reference to existing joint ventures/technical collaborations in the same sector Apr. 5 – In an updated foreign direct investment policy, the government of India stated a simplification of joint venture norms and opened up new areas for overseas funds. In a milestone decision, the government eased regulations […]
India Puts Accounting Practices in Line with International Standards
The Indian Ministry of Corporate Affairs recently said that it had aligned 35 Indian accounting practices with international standards, marking an important step to bringing International Financial Reporting Standards (IFRS) …
Indian 2011/12 Budget Good for Foreign Investment
Mar. 1 – Finance Minister Pranab Kumar Mukherjee presented the Union Budget for 2011/12 this past Monday. The budget focuses on finding a balance between controlling inflation and maintaining economic growth. Good news for foreign investors comes in the form of no drastic changes in taxation rates, no negative indications, and no major reform agenda. […]
