Vinod Solanki vs. UOI (Supreme Court) Where during FERA search proceedings the accused-appellant allegedly confessed to violations of the law and later filed an affidavit retracting his confession and the Tribunal and the High Court rejected the retraction on the basis that the onus was on the accused to show that the confession was obtained [...]

GUIDELINES FOR CALCULATION OF TOTAL FOREIGN INVESTMENT IN INDIAN COMPANIES AND TRANSFER OF OWNERSHIP OR CONTROL OF INDIAN COMPANIES IN SECTORS WITH CAPS FROM RESIDENT INDIAN CITIZENS TO NON-RESIDENT ENTITIES The Cabinet Committee on Economic Affairs  approved the adoption of Guidelines for (i) calculation of total foreign investment i.e. direct and indirect foreign investment in [...]

In the backdrop of the major financial crisis faced by the Indian aviation sector, the government is toying with the idea of allowing foreign airlines to pick up about 25 per cent stake in cash-strapped Indian carriers. This is one of the proposals being considered by the government. The present FDI policy in aviation does [...]

External commercial borrowing (ECB) norms are not likely to be relaxed any further soon, sources in the finance ministry indicated on Friday. Can you think of any other relaxation?” asked a senior finance ministry official in reply to a question on the possibility of easing ECB norms more.

Under the general permission available, the following categories can freely purchase immovable property in India: i) Non-Resident Indian (NRI)- that is a citizen of India resident outside India ii) Person of Indian Origin (PIO)- that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who

With a view to liberalizing the procedure further, it has been decided to raise the limit of USD 100,000 for advance remittance for alladmissible current account transactions for import of services without bank guarantee to USD 500,000 or its equivalent. AD Category – I banks may frame their own guidelines to deal with such cases as per the policy approved by the bank’s Board of Directors. RBI/2008-09/ 158 ,A.P.(DIR Series) Circular No. 15, September 08, 2008

A. P. (DIR Series) CIRCULAR NO 50 /RBI., Dated: June 3, 2008 Export of Goods and Services- Realisation and Repatriation of Export Proceeds-Liberalisation.  Attention of Authorised Dealer Category – I (AD Category- I) banks is invited to the provisions of sub-regulation (1) of Regulation 9 of the Notification No.FEMA.23 /2000-RB dated May 3, 2000, as [...]

DEPB Scheme Extended Till May 2009. Income Tax Benefit To 100% EOUs Under Section 10-B Of It Act Being Extended For One Year Beyond 31stmarch 2009. New Export Promotion Council For Telecom Sector . 5% Additional Duty Credit For Export Of Toys And Sports Goods

Investments overseas by an Indian company – Indian company” is defined to mean a company incorporated in India. It is permitted to undertake agricultural operations overseas including purchase of land incidental to such activity either directly or indirectly through its overseas offices vide Regulation 6A of FEM (Transfer or issue of any Foreign Security) (Amendment) Regulations 2004. An Indian company is not permitted to own or possess an agricultural land or carry out any agricultural activities in Karnataka as per the provisions of Section 79A and B of the Karnataka Land Reforms Act, 1961.

The Reserve Bank of India has issued a circular dated 14 December 2007, laying down the directions for issuance of shares under Foreign Direct Investments and refund of advance remittances. With effect from November 29, 2007, equity instruments should be issued or advance remittances should be refunded within 180 days of receiving the money.