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19
Jan

FOREIGN INVESTMENT IN CONSTRUCTION/DEVELOPMENT SECTOR: AN ANALYSIS OF RECENT AMENDMENTS

January 19, 2016
The Department of Industrial Policy and Promotion (“DIPP”) through its Press Note 12 of 2015[1] (“Press Note”), has sought to liberalize a number of sectors under the Foreign Direct Investment (“FDI”) policy. This step was taken toward attracting more foreign investment into India, and is yet to be incorporated into the Foreign Direct Investment (Transfer or...
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21
Apr

Government amends fair compensation and transparency regime in land acquisition

April 21, 2015
The Union Cabinet, chaired by the Prime Minister, on December 31, 2014 promulgated the Right To Fair Compensation And Transparency In Land Acquisition, Rehabilitation and Resettlement (Amendment) Ordinance, 2014 [1] (“Ordinance”) which brought in certain amendments in the Right To Fair Compensation And Transparency In Land Acquisition, Rehabilitation and Resettlement Act, 2013 (“Act”). A print release[2] by the...
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21
Apr

INDIA AND THE DELAWARE FLIP

April 21, 2015
India and other developing countries in the past decade have witnessed considerable developments in terms of Venture Capital (“VC“) funding for their start ups; however, the United States (“US”) still remains on top of the list, by a considerable margin in terms of venture capital backing. This has given rise to the “flip” trend, pursued by...
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02
Jan

A Hindu Woman’s Title to Immovable Property

January 2, 2015
Prior to the coming into force of the Hindu Succession Act, 1956 (‘the Act’), a woman’s ownership of property was limited in terms of her right to dispose off such property. With the coming into the force of the Act, the discrimination against women was done away with and the concept of Hindu widow’s estate...
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02
Jan

E-COMMERCE LAWS IN INDIA: FOREIGN INVESTMENT AND RETAIL TRADE

January 2, 2015
Any business activity conducted on an electronic platform through the internet would fall under the purview of e-commerce. Such business activity could be conducted between a manufacturer and consumer directly or could go through the route of manufacturer-wholesaler-retailer-consumer. While Indian Laws are yet to introduce a statutory definition for e-commerce, the concept essentially is the...
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04
Dec

Laws of Inheritance – Wills

December 4, 2014
The term ‘Will’ defined under ‘Section: 2(h)’ of The “Indian Succession Act, 1925”, is a legal declaration of the intention of a Testator with respect to his property, as desired by him to be carried into effect after his death. A Testator has the power to appoint any person as a beneficiary under the Will....
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04
Dec

Foreign Investment in Real Estate – Part II

December 4, 2014
In our previous post (available here), we had explored the options available to Non Resident Indians (“NRIs”) and Persons of Indian Origin (“PIOs”) to acquire and transfer immovable properties in India and repatriate proceeds from the same. This issue covers the aspects relating to the acquisition of immovable property by way of purchase and options available...
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04
Dec

TRANSFER OF DEVELOPMENT RIGHTS (TDR)

December 4, 2014
TDR is a form of compensation given to an owner for surrendering land and building to the local authority. When an area within the local planning area is required for any public purpose, i.e. for the widening of roads, parks etc, the owner of the said land surrenders it to the Local Planning Authority free...
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04
Dec

Foreign Investment in Real Estate – Part I

December 4, 2014
Subject to the Foreign Exchange Management Act 1999 (“FEMA”) and regulations issued there under, Foreign investment in real estate can be broadly achieved in the following ways: Purchase of immovable property[1]: Can be acquired by a Non Resident Indian/Person of Indian Origin by way of purchase/inheritance/gift. Non Residents can acquire immovable properties for carrying on...
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04
Dec

Proposed Amendments to Section 109 of the Karnataka Land Reforms Act, 1961

December 4, 2014
One of the trickiest questions in Karnataka with regard to holding of agricultural lands (holding would include as owner, as landlord or a mortgagee and could be with possession or without.) would obviously be, “who can hold agricultural lands?” The provisions of the Karnataka Land Reforms Act, 1961 answer this question by clearly specifying who cannot hold agricultural...
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