Other Briefings
New Schemes to Ease the Process of Closing a Business
Jul. 12 – The Ministry of Corporate Affairs (MCA) will launch two schemes that will ease the process for companies wanting to formally close a business. The Easy Exit Scheme 2010 will allow exiting companies to have their names taken out of the Registrar of Companies quicker and at lower costs applicable from May 30 […]
Court Ruling Allows Marketing Intangibles Not to be charged to Overseas Parent Company
Jul. 9 – The Delhi High Court has decided in favor of overseas parent company Suzuki Motor Corp. (SMC) saying the company should not pay Maruti Suzuki India (MSIL) for increasing brand recognition for Suzuki via marketing campaigns contrary to a previous decision made by tax authorities. The court’s decision applies to the assessment year […]
India to Consider FDI in Domestic Carriers
Jul. 8 – Authorities will soon begin talks on possibly raising foreign direct investment in local carriers to push New Delhi’s recently opened Terminal 3 into becoming an international aviation hub. “This issue would be discussed in coming few days. A final view may be taken shortly,” Civil Aviation Minister Praful Patel said in a […]
India Opens Debate on Foreign Investment in Retail
Jul. 7 – The Commerce and Industry Ministry released a discussion paper on Tuesday that considers removing barriers hindering foreign investment in the retail sector. Currently, only 51 percent of foreign direct investment is allowed for single-brand retail while multi-brand retail is limited to cash-and-carry branches. It is now being proposed that large-scale investment in […]
Limited Liability Partnership for Foreign Investors Proposed
Jul. 5 – The Finance Ministry is proposing that foreign investors be given the option to establish Limited Liability Partnerships (LLPs) in allowable sectors to encourage more investment. “Allowing foreign direct investment in LLPs in line with the sectoral limits will encourage foreign investment and not complicate the current regulatory regime,” a finance ministry official […]
India Amends Service Trademark Categories
Jul. 1 – India has introduced amendments to the Indian Trade Mark Rules, effective from May 20, 2010. The amendments are as follows: 1. Class 42 has been amended to include the following services: Scientific and technological services and research and design relating thereto; industrial analysis and research services; design and development of computer hardware […]
New Regulations on Issuing Checks Effective December 1
Jul. 1 – The Reserve Bank of India has released a circular advising that new regulations on issuing checks will be effective starting December 1 and not July 1 as announced earlier. The directive instructs banks not to clear checks with overwriting and checks with changes made to the amount or the payee’s name despite […]
Government Services to Go Online by October
Jun. 30 – India plans to make all government services available online in 10 states by October eventually followed by 18 more states as part of its State Portal Project. The services will include payment of utility bills, application for a driving license, birth and death registration certificates, pension applications and residence certificates to name […]
