Foreign Funding for NGOs: Regulatory Compliances

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By: Ramesh Vaidyanathan and Laxmi Joshi

The Foreign Contribution (Regulation) Act, 2010 and rules framed under it (the “FCRA” or “Act”) regulate the receipt and usage of foreign contribution by non-governmental organisations (“NGOs”) in India. NGOs play an important role in the upliftment of the weaker sections of the society and their overall development. This is especially true in the case of India, where a vast majority of its population continues to remain under the poverty line and have little or no access to even basic facilities provided by the government.

Being non-profit organisations, operations of NGOs are entirely reliant on donations, both domestic and foreign. In recent times, many NGOs have come under the government scanner for alleged contravention of FCRA. As per news reports, as many as 11,000 NGOs have even lost their permit to receive foreign contribution. While, the government claims that the licenses were cancelled due to violation of the act, the NGOs are contending that the government is wrongly using its discretionary powers under the act to suppress voices of dissent, especially those against

Issue of Convertible Notes by STARTUPS

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By: Laxmi Joshi, Riya Dutta & Aditi Rani

2016 was a tough year for the Indian startup ecosystem with the funding crunch, among other issues, plaguing them for most part of the year. The launch of the government’s action plan ‘Start-up India, Stand-up India’ made all the right noises to incentivize the set up, growth and expansion of startups in India. It was also followed by tax exemptions and a relaxed compliance regime for startups.

Budget 2017: Acche Din for India’s digital economy

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By: Sharanya Ranga

“Digital payments are to finance, what wheel is to transport”, so began the Watal Committee report that came out in December 2016. Rightfully recognising that we are on the cusp of a massive digital revolution, the Finance Minister in his budget speech outlined various proposals that will accelerate the pace of digitisation of the Indian economy.