Indian Corporate Law

"A periodic review of topics of interest in corporate and business law that impact India."

Author: "Umakanth V" is a lawyer by training and a Ph.D. candidate at the National University of Singapore.

Blawg Related Categories: Corporate Law • Corporate Compliance • International Law • International • Asia • India • Anonymous • Economics

Recent Posts from Indian Corporate Law

Auxiliary Activities and Permanent Establishments
We have discussed on several occasions the extent to which a liaison office of an MNC is taxed, and more generally, the concept of a “permanent establishment”. A series of decisions in 2009 has introduced…
Law Firms and Joint Ventures
A few months ago, we had posted about a paper by Professor Jayanth Krishnan on issues that revolve around the opening up of the Indian legal sector to foreign law firms. He has now released…
E-Voting in Indian Companies
Public (or retail) shareholders in a company usually exhibit traits that result in “collective action problems”. This refers to the difficulties that arise in achieving consensus among a diffused set of shareholders who do not…
Legal Risks and Financial Sector; Capital Controls
Recent developments in the financial sector have witnessed a sea-change in the nature of legal risks faced by banks and financial institutions. Regulators, banks and financial institutions, as well as their legal advisors (both in-house…
United States Supreme Court considers a corporation's 'principal place of business'
An important question, with significant implications for contemporary corporate law theory will be heard by the United States Supreme Court on November 10. The matter in question is Hertz Corp. V. Friend (08-1107), which poses…
Changing Advertising Practices in India - The End of "Puffery"?
The Government's proposed “Advertising Code” for food and health products is an interesting development , particularly in light of developments in India over the past three years or so on the subject. This blog has…
Powers of SEBI and SEC Compared
In his column in the Business Standard this week, our guest contributor Somasekhar Sundaresan argues that, if one were to go by the rule book, SEBI has greater powers than the SEC. He lists out…
'Business connection', 'Attribution' and the withdrawal of Circular 23 of 1969
Through Circular No. 7 of 2009, the CBDT has withdrawn Circular No. 23 of 1969 (“Circular 23”). Circular 23 explained the position relating to ‘business connection’ under Section 9 of the Income Tax Act, 1961.The…
A Reiteration of Separate Legal Entity
A recent decision of the Punjab and Haryana High Court in CIT v. Panchratan Hotels has re-emphasised the notion of separate legal entity, albeit in the context of the law of taxation. Here, the assessee…
Supreme Court Reaffirms Dharmendra Textiles
Earlier posts here have considered the issue of whether the penalty under section 271(1)(c) of the Income Tax Act, 1961 is a criminal, quasi-criminal or civil liability, which in turn has implications on whether mens…