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All Eyes on Moore vs US: How It Effects the India Tax Regime

September 11, 2024

[By Bhavana Sree Sagili] The author is a student of Damodaram Sanjivayya National Law University.   Introduction The US Supreme Court in Moore v. United States, addressed the constitutionality of the Mandatory Repatriation Tax (MRT) implemented under the 2017 Tax Cuts and Jobs Act. This case is pivotal because it will determine whether Congress can impose taxes on the “unrealized income” of American-controlled foreign companies.  While the final…

‘Un’Certainity on the issuance of partly paid units by AIFs

September 11, 2024

[By Yash Arjariya] The author is a student of Hidayatullah National Law University, Raipur.   Introduction: The Regulatory Framework The issuance of partly paid units of Alternative Investment Funds (‘AIF’) has been a general market practice, with the same being expressly allowed by the Securities Exchange Board of India (‘SEBI’) in the AIF Regulations, 2012. Similarly, the Non-debt Instruments Rules, 2019 (‘NDI Rules’) also seemed to allow the…

Redefining ‘Service’: New FEMA Rules Impacting Lawyers Serving Global Clients

August 31, 2024

[By Anasruta Roy] The author is a student of National University of Advanced Legal Studies.   Introduction In early July 2024, the RBI published draft regulations titled “Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024”( henceforth draft regulations), concerning foreign exchange transactions, continuing the government’s trend of policy liberalization in this area.  The proposed regulations introduce several key changes for exporters:  Expanded declaration requirement:…

India’s Digital Competition Bill: Ex-Ante Regulation in a Global Context

August 31, 2024

[By Nandita Karan Yadav] The author is a student of National Law Institute University, Bhopal.   Introduction  The rise of Big Tech giants has positively transformed the digital landscape. However, this revolution comes with a darker side: concerns about market dominance and privacy violations that the existing ex-post laws do not address effectively. In response, several countries have already implemented digital sector regulations. Now, India is in the…

SEBI’s bittersweet checkmate: Curbing speculation in secondary markets

August 28, 2024

[By Siddharth Melepurath] The author is a student of National Law University Odisha.   Introduction Recently, the Securities and Exchange Board of India (“SEBI”) released a consultation paper in which it proposed measures to curb speculative activity in Futures and Options (“F&O”) trading. Speculative trading involves taking guesses at the direction in which the market will go and trying to make money from an unexpected market volatility. SEBI…

India’s Digital Competition Gamble: Overreach or Oversight?

August 28, 2024

[By Jainam Shah & Ayush Raj] The authors are students of Gujarat National Law University.   Introduction In the rapidly evolving market of India’s digital economy, the Digital Competition Bill of 2024 has emerged as a contentious piece of legislation. It aims to regulate Systemically Significant Digital Enterprises (‘SSDEs’) in India through ex-ante regulations and seeks to ensure fair competition while preventing anti-competitive practices in digital markets. However,…

MSME Complex: Evaluating the Delayed Payments Regime

August 23, 2024

[By Rajnandan Gadhi & Aadithya J Nair] The authors are students of The National University of Advanced Legal Studies, Kochi.   Introduction The Micro, Small and Medium Enterprises Development Act, 2006 (‘the Act’) was envisioned by the Government of India in its quest “to make provisions for ensuring timely and smooth flow of credit to small and medium enterprises to minimise the incidence of sickness among and enhancing…

The Illumina & GRAIL deal: Lessons for the Indian Competition Regime

August 23, 2024

[By Sunidhi Kashyap] The author is a student of Rajiv Gandhi National University of Law, Punjab.   Introduction   A failed attempt at acquiring a healthcare company involved in developing early cancer detection tests, led to an interesting take on the European Union Merger Regulation (“EUMR”). Illumina, an American biotechnology company manufacturing and selling next generation sequencing (“NGS”) systems, used in developing blood-based tests to detect cancer, wanted to…

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