Legal & Regulatory

Government to Ease FDI Approval Process

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Jan. 22 – India is considering relaxing norms for foreign direct investment to require that only projects worth about US$217 million to US$326 million will need final approval from the Cabinet Committee on Economic Affairs (CCEA). Currently, projects worth more than US$130 million need to cleared with the Finance Minister, the Foreign Investment Promotion Board […]

New Document to Streamline FDI Process

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Jan. 13 – The government wants to release a single document that will streamline the foreign direct investment process by the end of March, reports The Press Trust of India. The document will come in a single consolidated press note that will replace the currently used  177 press notes and detail sectoral caps and how […]

Delhi Court Includes Chief Justice Office Under Information Act

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Jan. 12 – The Delhi High Court will uphold its bench order that includes the office of the Chief Justice of India within the scope of the Right to Information (RTI) Act and requires judges to declare their assets. The bench made up of Chief Justice A.P. Shah and Justices S. Muralidhar and Vikramjeet Sen […]

Andhra Pradesh Government Assembly Adjourned, MP Arrested

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Dec. 14 – The Andhra Pradesh assembly in Hyderabad was adjourned indefinitely or sine die following pandemonium after it began for the day’s proceedings this morning amidst chaos and slogan shouting by local MP’s favoring a unified Andhra Pradesh. Congress MP for Vijayawada, L. Rajagopal was arrested at the Hyderabad airport after he landed to […]

Reserve Bank of India Modifies Commercial Borrowing Policy

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Dec. 14 – The Reserve Bank of India has modified its external commercial borrowing (ECB) policy; the changes will take effect from January 1, 2010. Loan agreements signed on or after this date will attract an all-in-cost ceiling as shown in the chart. Eligible borrowers using ECB after December 21, 2009, where the loan agreement […]

Confusion Over Formation of Telangana State

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Dec. 14 – The Indian government’s decision to form a new state of Telangana is causing confusion in Andhra Pradesh as the proclamation is seen as an agreement to divide a new area from the state. Home Minister P. Chidambaram issued a statement last week confirming that the mechanism for forming the new state was […]

Foreign-Owned Indian Assets May Be Excluded from Capital Gains Tax

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Dec. 9 – The Federation of Indian Chambers of Commerce and Industry has suggested that transactions in respect of Indian assets of foreign companies are to be excluded from capital gains tax. In submissions to Revenue Secretary P.V. Bhide on Tuesday, the FICCI president, Harsh Pati Singhania, suggested that certain transactions of foreign companies in […]

India to Drop Re1, Rs2 Notes from Circulation

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Dec. 9 – India will soon drop Rs1 and Rs2 notes from circulation to be replaced with coins citing high printing costs and short lifespan of the latter. “The Reserve Bank has informed that in view of the short life span of the lower denominations notes of Re1, Rs2, and Rs5 and the high cost […]

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