Allen & Overy LLP (JD Supra India)
The Reserve Bank of India relaxes restrictions on foreign lending
The Reserve Bank of India (RBI) has announced a series of policy changes, which include (i) the relaxation of its External Commercial Borrowing (ECB) framework and (ii) the withdrawal of certain restrictions on investment by Foreign Portfolio Investors (FPI) in corporate debt. These changes open up new opportunities in the Indian market for international lenders and debt funds.?
Indian Model Bilateral Investment Treaty
Recent press reports suggest that India may be looking to terminate or renegotiate at least 47 existing international investment agreements (IIAs), including those with the UK, France, Switzerland, Germany, Spain, Mauritius and Australia. This follows the unveiling of India’s new Model BIT in January 2016 (Model BIT), which is expected to serve as the base text for India’s negotiation of new and
Can Two Indian Parties Agree To Arbitration Outside India?
Recent conflicting Indian court judgments have given rise to concerns as to whether two Indian companies may refer disputes to arbitration seated outside of India. We take a look at these cases and conclude that there is no provision in the 1996 Arbitration Act or the Contract Act, nor is there any general principle of public policy in India, which precludes Indian parties from resolving their...
Reform of Dispute Resolution Processes in India
This article considers changes brought about by two Ordinances recently promulgated by the President of India: (i) the Arbitration Ordinance which amends the Indian Arbitration Act; and (ii) the Commercial Courts Ordinance, which provides for the establishment of Commercial Courts across India. Their aim is to provide for a more efficient process for international parties to resolve their...
The corridor of uncertainty diminishes following another pro international arbitration judgment from the Indian Supreme Court
For international parties who have contracted with Indian counterparties and agreed to refer disputes to international arbitration, a critical issue is the degree to which the Indian courts have jurisdiction to review and set aside awards.