Force Majeure in government contracts and Public Private Partnerships May 18 2020
Ministry of Finance issues office memorandum for force majeure The Government of India, through the Procurement Policy Division, Department of Expenditure at the Ministry of Finance (MoF), has recently issued an office memorandum on May 13, 2020 (O.M. No. F. 18/4/2020-PDD) pertaining to force majeure (MoF Memorandum). The MoF Memorandum seeks to provide relief to …
Continue reading “Force Majeure in government contracts and Public Private Partnerships May 18 2020”
10 key takeaways from INR 20 lakh crore economic relief package | May 14, 2020
In a speech that echoed and amplified PM Modi’s ‘Atmanirbhar Bharat’ (Resilient India) approach, India’s Union Finance Minister (FM) on Wednesday announced a slew of measures to help businesses recover from impact of Covid-19 outbreak. These measures, when included with the earlier steps announced by finance minister and Reserve Bank of India, will be worth …
Continue reading “10 key takeaways from INR 20 lakh crore economic relief package | May 14, 2020”
Deployment of blockchain technology to minimize investment risks in India’s power sector – Ground Zero
Authored by: Nived Veerapaneni
FIAU Proposes Amendments to the Implementing Procedures
The Financial Intelligence Analysis Unit (FIAU) has proposed a series of amendments to Part I of the Implementing Procedures issued under the Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01). These proposed amendments seek to make certain obligations more practicable particularly for the funds industry.
Company Liquidation: terminating an LLC in Ukraine
The company liquidation is a complex and often long-term process requiring the legislation knowledge and development of a clear and step-by-step plan for winding-up. The company liquidation period in Ukraine depends on just how each step is prepared and complies with the applicable legislation. When liquidating a legal entity, it should be noted that it …
Continue reading “Company Liquidation: terminating an LLC in Ukraine”
Land Market Opening in Ukraine
On 31 March 2020, the Parliament of Ukraine adopted the Law On Amendments to Some Legislative Acts of Ukraine on the Agricultural Land Circulation. This Law shall introduce the land market in Ukraine from 1 July 2021. Since the date of the Law coming into effect, agricultural land owners shall be entitled to sell their …
IMPACT OF COVID-19 ON TAX RESIDENCY OF AN INDIVIDUAL
Financial Year 2019-2020 came to an end on March 31, 2020 with several nations of the world suspending air travel and closing borders to prevent spread of COVID-19 which caused mayhem in the last quarter. India was no exception, as the Government of India imposed lockdown with effect from March 25, 2020 leaving number of …
Continue reading “IMPACT OF COVID-19 ON TAX RESIDENCY OF AN INDIVIDUAL”
COVID-19 and force majeure within the meaning of the Commercial Act
Almost two months after the state of emergency has been introduced, the initial stress of the current situation and immediate fear of the disease itself has given way to the justified concerns about the effects that the anti-epidemic measures will have on the economy and trade in the short and long term.
Procedural and other deadlines during a state of emergency
It took out legislator two weeks to revise and amend the quickly adopted Act on emergency measures and actions (AEMA), announced by a decision of the National Assembly of March 13, 2020, whose initial provisions gave rise to a wide variety of interpretations and ambiguities regarding its application.
How to close business by bankruptcy procedure in Kazakhstan
Symbat Tursyngali, Anar Kubeyeva Lawyers, Synergy Partners Law Firm A company, for example LLC[1], has decided to close its business. In this case there are several options: