Ushering FDI reforms in the financial service sector

by Puneet Shah Financial sector reforms have always impacted the common Indian citizen given the growing linkage of Indian economy with the world at large. Today, we live in a global village with strong and growing inter-dependence between our financial systems and the global economies. India’s financial sector has diversified and expanded significantly over the […]

Much needed progress seen in debt recovery laws

While the passage of the goods and sales tax (GST) bill has stolen the limelight, much was achieved by lawmakers in a productive monsoon session of the Indian parliament. An unheralded achievement is the passage of the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, by both the […]

GST Impact: Energy Sector

The Viewpoint Bar and Bench

The energy sector is a key driver for economic growth but remains plagued by policy and regulatory bottlenecks. Lack of pass through of indirect taxes contributes to the inefficiencies that have crept into this sector. Unfortunately, this legacy issue is set to continue under the Goods and Service Tax (GST) regime, with generation and sale […]

The Need for Facilitating Electronic Payments in the Peer To Peer Lending Sector

Bar and Bench, Budget

By Sharath Chandrasekhar The peer to peer (“P2P”) lending sector, which currently remains largely unregulated, has undergone substantial growth and has eased the process of financing by facilitating borrowers and lenders (primarily individuals) to connect with each other conveniently on virtual platforms (“P2P Platforms”). P2P Platforms offer an avenue for financing which is distinct from […]

The (Il)legitimacy of Judicial Taxation

by Promod Nair The Supreme Court of India has often played the role of a steward of the environment. An era of judicial activism, often spurred on by public interest litigation, has seen the Indian courts engage frequently and courageously with environmental issues and fashion innovative remedies to prevent degradation of the environment in the […]

The S4A: Genuine progress or a mere flash in the pan?

With catchy acronyms such as SDR (strategic debt restructuring), JLF (joint lenders forum), and CAP (corrective action plan), the alphabet soup of the measures taken by the Reserve Bank of India (RBI) over the past 18 months has caught the imagination of industry watchers who had been clamouring for broad-based regulatory measures to assess problematic […]

Stage set for robust corporate bond market in India

Recent Developments In India’s legal regime coupled with existing stress in the banking sector and regulatory overhaul has already marked 2016 as a defining year for the corporate bond market and it is equally crucial for the corporate bond market to deepen in the existing environment. Despite growth of corporate bond markets in India being […]

The arbitrability of disputes arising under a trust deed

by Promod Nair & Shivani Singhal In its recent judgment in Shri Vimal Kishor v. Mr. Jayesh Dinesh Shah, the Supreme Court held that disputes arising out of trust deeds are not arbitrable and that such disputes should be added to the list of “well-recognised examples of non-arbitrable disputes” which were identified by the Court’s earlier […]

Impact of GST on the Aviation Sector

The Viewpoint Bar and Bench

Cross credits for aircraft lease taxes under the GST system will be a great boost for the local service industry. However, the Government will need to carefully consider the inflationary impact of keeping aircraft fuels outside GST. With increasing liberalisation and focus on infrastructure development, the aviation sector is one of the fastest growing sectors […]