Major IT hardware companies have held talks with the Indian government, leading to a postponement of import curbs. Instead, the focus is now on promoting local production alongside a new import management system.
Companies in India can hold their AGM/EGM meetings for 2023-2024 virtually until September 30, 2024, following a clarification from the MCA.
Importers must register with India’s Special Value Branch (SVB) if they are affiliated with their suppliers, as per Customs Department requirements. We discuss how customs authorities assess related party transactions and the registration process with the SVB.
India’s Digital Personal Data Protection (DPDP) Act 2023 will impact internet companies, mobile apps, and businesses handling citizens’ data. Enterprises will need to assess the fine print of the legislation to address their risk exposure and compliance requirements.
India’s draft Competition (Combinations) Regulations, 2023 released by the CCI, seeks to implement the amended Competition Act. It is open to the public for feedback till September 25, 2023. We discuss key provisions and proposed changes to the M&A landscape.
India’s Ministry of Corporate Affairs has recently launched the LLP Amnesty Scheme 2023, granting LLPs respite from late filings (Forms 3, 4, 11) till November 30, with streamlined processes and waived penalties, showcasing support for businesses.
Independent directors, per India regulations, play a pivotal role in balancing corporate interests and maintaining ethical oversight. Qualifications are stringent, there are limits on directorships, and appointments involve board approval.
On August 23, 2023, the Competition Commission of India (CCI) released draft rules for Commitments and Settlements under the Competition (Amendment) Act, 2023. These frameworks allow implicated companies to settle with the CCI in cases of abuse of dominance and anti-competitive agreements.