White & Case LLP (JD Supra India)

The Supreme Court of India has clarified that two Indian parties may elect to arbitrate in a non-Indian forum, and that interim measures for such an arbitration will be available in Indian courts. This ruling gives much-needed clarity to previously unclear precedent on these points.

Government approval is required for all foreign investments from countries sharing a land border with India - Non-residents investing in India are required to comply with India's Foreign Direct Investment (FDI Policy and other foreign investment and foreign exchange regulations, including the Foreign Exchange Management Act (FEMA) and the regulations and notifications thereunder. The FDI...

Fifteen of the 16 members of the Regional Comprehensive Economic Partnership (RCEP) announced on November 4 the conclusion of negotiations on the text of the mega-regional trade agreement. Only India withheld agreement during the meetings in Bangkok, saying that it would abandon the RCEP until its outstanding concerns are resolved.

While investors are looking at a variety of sectors in the region, our survey reveals that roads are the top priority, while both conventional and renewable energy are still very much on the radar - Our research shows that transportation (in particular, roads) and energy (both conventional and renewable) are the top priorities for investors. These findings tally with figures from Inframation...

Welcome to the India page of our Global Employee Equity at a glance series. Stock Option Plans: Employment - Labor Concerns - There is a risk that Plan benefits could be considered part of an employee's salary for the purposes of calculating entitlements on termination of employment. An employee should therefore be required to acknowledge in writing that the Plan and any Plan benefits...

On 11 April 2017, the High Court of Delhi handed down its decision in the case of Cruz City Mauritius Holdings v Unitech Limited, rejecting objections to the enforcement of a US$300 million LCIA award.

Stock Option Plans: Employment - Labor Concerns - There is a risk that Plan benefits could be considered part of an employee's salary for the purposes of calculating entitlements on termination of employment. An employee should therefore be required to acknowledge in writing that the Plan and any Plan benefits are provided solely at the discretion of the Subsidiary.

EMPLOYEE STOCK PURCHASE PLANS - EMPLOYEE STOCK PURCHASE PLANS: EMPLOYMENT - Labor Concerns - There is a risk that benefits under a stock purchase plan could be viewed as a part of the employee's salary and taken into account when determining damages payable to an employee upon unlawful termination. To mitigate this risk, the employee should acknowledge in writing that the Plan and...

On February 29, 2016, the Indian Finance Minister presented the Government of India’s budget for the fiscal year beginning April 1, 2016. In this alert we summarize the key proposals relevant to international investors investing in India. These proposals will become effective only when the corresponding changes to the relevant laws or regulations are implemented. Please see full alert below...

Sweeping changes have been made to India's arbitration legislation, the Arbitration and Conciliation Act, 1996 (the "1996 Act"). These changes have been made through an executive ordinance and came into effect on 23 October 2015. The amendments will lapse if they are not ratified by the Indian Parliament within six months. The amendments will have a direct and immediate effect on...

Three years after its landmark judgment in Bharat Aluminium Co. v. Kaiser Aluminium Technical Services, Inc., the Supreme Court of India in its decision in Union of India v. Reliance Industries has reaffirmed its commitment to adopting a pro-arbitration, anti-interventionist approach to international arbitration, and reassured foreign investors with pre-2012 arbitration agreements. Please...

Foreign companies that learn from the experience of previous investors can navigate the challenges of investing in India. Optimism for doing business in India is rising. Enthusiasm rocketed when Narendra Modi was elected prime minister on a business-friendly reform agenda in May 2014, but positive signs were evident before the election. A survey conducted last summer by Ernst & Young (EY)...

Introduction: E-commerce in recent times has been growing rapidly across the world. According to Report of Digital–Commerce, IAMAI-IMRB (2013), e-commerce industry in India has witnessed a growth of US$ 3.8 billion in the year 2009 to US$ 9.5 billion in 2012. By 2013, the market is expected to reach US$12.6 billion, showing year to year growth of 34%. Industry sources indicate that this...

In September 2012, the Government of India (GoI) permitted foreign direct investment (FDI) up to 51% of the equity of Indian entities engaged in multi-brand retail trading (MBRT) in India (see our earlier alert of October 2012). In view of the significant political opposition to this decision, FDI in this sector was subject to various conditions. These conditions included (a) obtaining...

India’s Parliament has approved the country’s budget for the fiscal year beginning April 1, 2013 (Budget) by passing the Finance Bill, 2013 (Finance Bill) on May 2, 2013 with several amendments to the earlier version of this bill presented to the Parliament on February 28, 2013 (see our earlier alert on the Budget proposals of February 28, 2013). While some of these amendments are favorable to...

On February 28, 2013, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2013 (Budget). The Budget includes several proposals that affect international investors investing in India, including the following which are significant: - The General Anti Avoidance Rule (GAAR) proposed last year is to come into effect from the financial year beginning...

On March 16, 2012, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2012, which included proposed legislation that seeks to reverse the decision of (India’s) Supreme Court in the Vodafone case and makes several other significant amendments to (India’s) Income Tax Act, 1961 (“IT Act”). Many of the proposed amendments take effect retroactively from...

The Controller General of Patents Designs and Trademarks of India (“Controller”) recently granted Natco Pharma Limited (“Natco”), an Indian drug manufacturer, a compulsory license for Bayer AG’s (“Bayer”) Nexavar (sorafenib), an oncology drug that extends the patient’s life but does not cure the underlying condition. The Controller found Nexavar eligible for compulsory licensing under...

On January 20, 2012, the Supreme Court of India (the “Supreme Court”) delivered a landmark judgment in Vodafone International B.V. v. Union of India & Anr. ruling that the transfer of shares of a company incorporated outside India from a seller resident outside India to a buyer resident outside India is not taxable by the Indian tax authorities even if such transfer indirectly

Tomorrow, 1 June 2011, the merger control provisions of the Indian Competition Act 2002 will finally enter into force. If you are contemplating M&A activity with binding agreements being signed as of tomorrow, you will need to carefully consider this new merger control regime. The Competition Act is broad in the types of transactions it deems to constitute notifiable mergers. Fortunately,...