New Overseas Investments Regime in India
On August 22, 2022, the Government of India issued the much-awaited revised rules, regulations and directions applicable to overseas investments by Indian entities and individuals. These include: (i) the Foreign Exchange Management (Overseas Investment) Rules, 2022 (the “Overseas Investments Rules”) issued by the Ministry of Finance, Government of India; (ii) the Foreign Exchange Management (Overseas …
Bank Guarantees and Employee’s Protection Insurance Schemes
On 20th September 2021, the Federal Decree Law No. 33 of 2021 (the “Federal Labor Law”) was issued, which superseded the abrogated Federal Law No. 8 of 1980 on Labor Relations. The Federal Labor Law came into force on 2nd February 2022 and currently, governs the labor/ employment relations in the UAE.
PRE-LITIGATION MEDITATION- A CATALYST OF CHANGE FOR LEGAL REFORMS
“… Pre-litigation mediation is the need of the hour to avoid delaying justice and for early disposal of pending cases, which are mounting. I think the time is ripe to devise a comprehensive legislation, which contains compulsory pre- litigation mediation…” Mr. S A. Bobde, Former Chief Justice of India
REVAMP OF OVERSEAS INVESTMENT REGULATORY FRAMEWORK
The Reserve Bank of India (“RBI”) in consultation with the Government of India (“GoI”), has recently revamped the regulatory framework governing the overseas direct investment (“ODI”) made by residents in India. The GoI has brought in Foreign Exchange Management (Overseas Investment) Rules, 2022 and the RBI has issued Foreign Exchange Management (Overseas Investment) Directions, 2022, …
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Validity of Restrictive Covenants in Contracts
The bedrock of modern-day commerce and trade is based, inter alia, on the relationship between contracting parties, which is governed by the principles of the law of contracts. Technological advancement and globalisation have fostered additional complexities in this sphere, making it incumbent on the parties to protect their legitimate business interests. In a bid to …
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PIPC Imposes Record Fines on Google and Meta for Privacy Violations
On September 14, 2022, the Personal Information Protection Commission (PIPC) announced that it had imposed record fines totaling KRW 100 billion on Google LLC (Google) and Meta Platforms, Inc. (Meta), the service provider of Facebook and Instagram, for collecting and using the behavioral data of users without consent for targeted advertisements in violation of the …
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What’s in a Name? The Story of The New Delhi International Arbitration Centre (Amendment) Bill, 2022
Introduction The New Delhi International Arbitration Centre (Amendment) Bill, 2022 [1] (the “Bill”) was passed by the Lok Sabha (the lower house of the Indian parliament) on 8 August 2022. Arbitration is seen as a time-efficient alternative to the largely backlogged litigations before the national courts in India. Like other developing Asian nations, India is …
Real Estate Sales Agreements: What Has Changed After the Significant Amendments in the Law No. 1512 on Public Notary
I. Introduction A real estate sales agreement is an agreement that is executed by and between the buyer and seller for the acquisition of real estate and is regulated under the Turkish Code of Obligations No. 6098 (“Law No. 6098”). By executing the real estate sales agreement, the seller promises to transfer the real estate …
NFTs: Business Trends & Legal Uncertainties
The future of NFTs seems bright and promising. NFTs are evolving into an asset class that, at its core, serves as the world’s greatest digital evidence of ownership. As NFTs grow, their role as digital proofs of ownership will provide innovative and lucrative use cases for future digital economies. While digital art and collectibles presently …
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Share Deal or Asset Deal?
This article will compare the legal and tax implications of a share deal with those of an asset deal. It will discuss the relevant taxes and transaction costs that will be incurred for an asset deal compared to a share deal from a Thai tax perspective.