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. On top of that, India also significantly improved its ranking in the World Bank’s Ease of Doing Business Index 2018. 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’.
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.
By: Sharanya Ranga and Neil Lopez
Contract enforcement through speedy dispute resolution has always been one of the biggest concerns for the business community in India, particularly foreign investors. The recent judgments of the Delhi High Court (HC) in the high profile Tata-Docomo case and that of the Cruz City-Unitech case touching upon enforcement of foreign arbitral awards and contractual obligations, have helped boost investor confidence. We briefly discuss these two judgments and their larger impact on foreign investment.