We are happy to share the first part of The Great Legal Minds Show with Mr. Sanjay Hegde, Senior Advocate, Supreme Court of India hosted by Aman Abbas, Founder, LawWiser. He is also a big advocate of civil rights and also an expert on Constitution Law.
In the first part of the video, he talks about different aspects of the Indian constitution ranging from its history, constituent assembly, the manner in which it was formed and written, fundamental rights and their protection, right to freedom of religion and also stated that now there is more deepening engagement with the constitution.
The Government of India announced to give Esports a major boost by integrating it with mainline sports disciplines in the country. To learn more about this update watch this video Featuring Avani Shukla of LawWiser.
There has been a growing demand for Esports to be included in the curriculum of multi-discipline events after it was included in the 2018 Jakarta Asian Games as a demonstration sport, meaning medals won in the sport were not counted in the official overall medals tally.
The President of India, Droupadi Murmu, in exercise of the powers “conferred by clause (3) of article 77 of the Constitution” amended the rules governing Esports and asked the Ministry of Electronics and Information Technology and the Sports Ministry to include “e-Sports as part of multi-sports events”.
As per regulatory filing, based on the approval of the Shareholders at the 30th Annual General Meeting held on July 30, 2021, with regard to further investment by the Company in Madura Micro Finance Limited (MMFL), a Material Subsidiary, up to an aggregate sum of Rs250cr, the Board of Directors at their meeting on December 21, 2021, have considered and approved further investment in MMFL in the form of Subordinate Debt or Perpetual Debt Instruments (PDIs) or both, up to Rs250cr, in tranches, in order to support capital adequacy requirement of MMFL.
Hufriz Wadia of AZB & Partners advised CreditAccess Grameen Limited, an NBFC-MFI on its INR 1.65 Billion Tier II Capital infusion in its subsidiary Madura Micro Finance Limited by way of subordinate debt to further augment its capital adequacy ratio.
The RBI has recently rolled out retail digital rupee project. This project has been most talked about, as it aims to meet the need of public for digital currencies.
Watch LawWiser’s latest video on RBI’s Retail Digital Rupee Roll-out, where our host takes us through the details of this project.
Preparations for the new year 2023 have already begun with the list of recommendations and expectations being released for the upcoming Budget 2023 by various industry associations. These recommendations and expectations are aimed towards providing a boost to growth in various sectors and industries. This is also the need of the hour for the economy to progress.
Watch on LawWiser what are some of these initial expectations from the budget 2023, which we cover in this part 2 of the video. In this video we cover the expectations of the Energy and Renewable Energy Sector:
– consider bringing petroleum products, electricity tariffs, and real estate under GST at some stage over the medium term.
-Provide PLI benefits to Wind Turbine (OEMs) and component manufacturing for the development of new megawatt size turbines
– Suitable amendments be made in Section 115BBG of the Act to ensure that the benefit is not restricted only to carbon credit units validated by the United Nations Framework on Climate Change.
– To define what constitutes the climate change sector under the Income-Tax Act, 1961, to clearly identify the types of sub-sectors or projects eligible for fiscal benefits.
Watch all this and much more in this video. Stay tuned for more such videos where we will be covering expectations of other sectors and industries from the upcoming budget.
As the year 2022 ends, preparations have already begun for the coming year of 2023. Among the foremost is the budget of 2023, the businesses, industries and various sectors have already started sharing recommendations and their expectations from the upcoming budget of 2023.
Watch on LawWiser what are some of these initial expectations from the budget 2023, which we cover in this part 1 of the video. In this video –
📍Startups are looking at appropriate relaxations on outbound mergers — where the merged entity is a foreign entity and does not enjoy the principle of tax neutrality — in the upcoming Budget.
Indian entities could not invest in foreign entities earlier if they had an India connection and RBI approval was needed for the same. The apex bank would look at requests for approvals on a case-to-case basis.
The new ODI norms permit transactions by Indian entities in foreign entities, provided they do not have more than two layers of subsidiaries, directly or indirectly. Investors can now make an overseas investment for less than a 10% stake in foreign companies without the need for a joint venture.
This year, the SEBI allowed outbound investments from Indian alternative investment funds or venture capital funds into foreign entities without an Indian connection. As Indian tech startups look at avenues to globalise their businesses and raise private and public funds outside India, flipping ownership structures may become more commonplace.
📍A new 2.0 version of the government’s production-linked incentive scheme (PLI) for the textile sector, focusing on small and medium enterprises (SMEs) is expected to be finalised early next year.
📍Industry body Assocham has recommended the extension of the production-linked incentive (PLI) schemes to more sectors in the upcoming union budget.
📍Among other pre-budget recommendations, the industry body said the government should increase the exemption limit for income tax to at least ₹5 lakh so that more disposable income is left in the hands of consumers and the economy gets a consumption boost and further leg-up in the recovery. Without accounting for rebates, the present exemption limit is ₹2.5 lakh for the assesses.
📍Tourism Sector: The first issue is taxation. There have been a lot of concerns about that, and have proposed some relaxations. The GST (Goods and Services Tax) on the industry is actually on the higher side when we compare it with the neighbouring countries.
An affiliate of funds advised by SK Capital Partners, LP (“SK Capital”) announced that it has reached an agreement to acquire Apotex Pharmaceutical Holdings Inc. (“Apotex” or the “Company”), a proudly Canadian, global pharmaceutical company that produces high-quality, affordable medicines across all major therapeutic areas for patients around the world.
The team representing SK Capital comprised of Partners Ashwath Rau, Jasmin Karkhanis and Senior Associates Saras Muzumdar, Nitika Jain and Rashmee Kumar.
Luthra and Luthra Law Offices India assisted Crystal Crop Protection Limited in relation to raising of private equity investment of INR. 300 crores (USD 37 million approx.) from International Finance Corporation (IFC) and Emerging Asia Fund (EAF).
The team comprised of Partners, Avirup Nag and Sabrina Afroze and Associate, Kashish Singhal who assisted Crystal Crop in finalising the investment agreements and closing of the transaction.
Global investment firm KKR invests $400 million in Serentica Renewables, a decarbonisation platform that seeks to enable the energy transition by providing complex clean energy solutions for energy-intensive, hard-to-abate industries.
The AZB and Partners team advising KKR comprised of Partners Ashwath Rau, and Atreya Bhattacharya.
