Recent Developments in Foreign Direct Investment Regime in India

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By: Ramesh Vaidyanathan and Aditi Rani

India is likely to be the fastest growing economy in 2018 with growth expected to accelerate to 7.3% year as per the World Bank’s Global Economic Prospects Report, 2018.[1] On top of that, India also significantly improved its ranking in the World Bank’s Ease of Doing Business Index 2018.[2] This positive trajectory can be attributed to the Government of India’s continuing efforts to overhaul the regulatory regime and introduce legislative changes to improve the business environment. In the words of India’s popular Prime Minister, the economic reforms should be founded on the principles of ‘minimum government, maximum governance’ and ‘red carpet instead of red tape’.

Drones in India: Laws Hovering Overhead!

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By Ramesh Vaidyanathan and Mansi Singh

Drones have myriad applications such as news gathering, commercial surveillance, power line inspection, commercial filming, advertising, law enforcement, disaster relief, agriculture, search and rescue, mineral, gas and oil exploration, etc. While most countries have enacted laws regulating the use of drones, India has been deliberating on the regulations governing the licensing and operation of drones for a long time. Not to be left behind, India released the draft Civil Aviation Requirements (CAR) to provide for the ‘Requirements for Operation of Civil Remotely Piloted Aircraft System (RPAS)’.

Company Law Update: Restrictions on Number of Layers of Subsidiaries

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By Sharanya Ranga and Aditi Rani

The Ministry of Corporate Affairs (MCA) recently notified the Companies (Restrictions on number of layers) Rules, 2017 (Rules) to restrict the number of layers of subsidiaries for specific classes of holding companies. This notification that has come into effect from September 20, 2017 is only the latest (not the last, of course) in the ongoing drive by the Government of India to fight black money, money laundering and corruption.