One of the world’s largest law firms, UK-based Clifford Chance, has recruited Rahul Guptan, a senior partner from India’s leading law firm Amarchand & Mangaldas & Suresh A Shroff & Co. Guptan was heading the firm’s capital markets practice. He also has experience in takeovers, privatisation, joint ventures, private equity investments and general corporate law. [...]
One of the regulations created to protect Indian promoters from being shortchanged by foreign partners could be on its way out. The government is reportedly planning to scrap Press Note 1(formerly known as Press Note 18) which mandates a foreign companies making investments in India to get a no objection certificate (NOC) from their domestic [...]
(Editor’s note: Shantanu Surpure, Managing Attorney at Sand Hill Counsel, a Mumbai and Silicon Valley-based law firm, writes on the RCOM-RIL-MTN right of first refusal (ROFR) dispute and its legal implications. Since the 45-day exclusive talks betwen RCOM and MTN are scheduled to end on July 9, the question is whether Mukesh Ambani’s ROFR can [...]
(Guest Column: Shantanu Surpure, Managing Attorney/Advocate at Sand Hill Counsel, a Mumbai and Silicon Valley-based law firm, writes on the Budget 2008-09 and what it means for the PE/VC ecosystem. Shantanu was assisted by advocate Anand Kumar of Sand Hill Counsel.)
While today’s Budget had much for the rural sector including announcements regarding debt relief, the [...]
Indian corporate law firm Trilegal has made a big move. The firm, which has represented clients like Vodafone, has joined hands with UK’s leading law firm Allen and Overy for client referrals, training, consultation and joint marketing. This is not the first time an Indian law firm tying up with foreign firms.
Many Indian firms have [...]
For foreign investors taking a pitstop at Cyprus enroute to India, the game might be coming to an end. There are indications that the double taxation avoidance agreement (DTAA) between India and Cyprus is going to lose the capital gains tax exemption benefit. According to this report, there is going to be an amendment to [...]
Investment banks and management consultants always complain that it’s very difficult to get money out of Indian companies (read lalas) for their work. You know that better.
The Ambanis could be running some of India’s largest companies, but it seems they may also not part with money that easily. World’s blue-blooded management consultancy firm McKinsey has [...]
ICICI Venture Funds is reportedly looking at ways to escape the recent tax clause on Indian venture funds. The Mumbai-based private equity firm is looking at structuring the investment in such a way that the shares of the investeee companies will be directly held by the limited partners of the fund. It will be somewhat [...]
The tussle over Hutch deal is far from over. There is a legal battle brewing between the Essar Group and Hutchison Telecom International. The fight is over the Right of First Refusal (RoFR) which Essar Group claims it has. HTIL has outrightly rejected such a claim. Anticipating a legal action by Essar, HTIL has filed [...]
(Editor’s note: The Union Budget has made a provision to limit pass through benefits (tax exemptions) to venture capital funds who invest only in certain sectors. Shantanu Surpure, Partner at Mumbai-based law firm Economic Law Practice, explains what the step means to venture capital funds. Surpure has been assisted by associate Yashojit Mitra.)
Today’s budget announcement [...]
(Editor’s note: Press notes 1 and 18 once again came to the fore recently, thanks to Danone and Britannia spat on the Avesthagen investment. They are regulations that govern joint ventures between an Indian and foreign company. Our columnist Shantanu Surpure, partner at Economic Laws Practice, a Mumbai-based law firm, explores the topic and contends [...]
(Editor’s note: The Limited Liability Partnership Bill 2006 is currently under the consideration of Rajya Sabha. Indian industry body Confederation of Indian Industry has called it a path-breaking legislation. A hybrid between a limited liability company and a partnership firm, the new structure as envisaged in the bill - once cleared by the Parliament - [...]
Allowing foreign law firms in India is an issue that crops once in a while. Now it seems there is some development on this front. The Financial Express reports that India “has initiated talks with countries, including the UK, on modalities for allowing their law firms limited entry into India”.
However, don’t expect anthing immediately. For, [...]
(Editor’s note: This guest column is written by Shantanu Surpure, partner at Economic Laws Practice, a Mumbai-based law firm specialised in venture capital, private equity and cross border transactions. Yashojit Mitra and Devyani Singh, associates at ELP, assisted in writing this article. The above guest column is meant for public discussion and informational purposes only [...]
Foreign law firms are in India, well, indirectly. A leading global law firm Linklators has formed a referral relationship with a soon-to-be-formed law firm in India. Linklaters and Mumbai-based Thawar Thakore & Associates have agreed to refer work to each other while the Indian firm has also been invited to second lawyers to the magic [...]
