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India's trade ministry announced the reinstatement of export benefits. The Remission of Duties and Taxes on Exported Products scheme resumes on June 1. It covers sectors like textiles, chemicals, and agriculture. The move aims to level the playing field for exporters. The government paused the scheme earlier for review. This decision follows a recent trade agreement with Britain. Read more at: https://legal.economictimes.indiatimes.com/news/law-policy/india-reinstates-tax-refund-benefits-for-exporters-to-enhance-competitiveness/121432926?ag=wappchnl&utm_source=wappchnl
While neither the Delhi High Court nor the Appellate Tribunal under the PMLA has prescribed what this diligence should entail, it typically involves a risk-based assessment of the investee’s business, accounting transaction testing, screening of assets, and verification of the source of funds, among other things. Read more at: https://legal.economictimes.indiatimes.com/news/opinions/protect-your-investments-risks-of-asset-attachment-in-indias-money-laundering-enforcement/121457292?ag=wappchnl&utm_source=wappchnl
Zia Mody, founder & managing partner at AZB & Partners says that despite global capital flow challenges from the US Fed’s rate hikes, India’s inbound M&A remains resilient with innovative deal structures like convertible preference shares and reverse mergers. She says that the RBI’s facilitative approach has eased foreign companies’ re-domiciling to India. ESG compliance and evolving trade talks with the US and UK continue to shape deal dynamics. Read more at: https://legal.economictimes.indiatimes.com/news/corporate-business/indias-resilient-inbound-ma-innovative-deal-structures-amid-global-challenges/121413946?ag=wappchnl&utm_source=wappchnl
In a landmark judgment, the USCIT has struck down broad tariffs imposed during Donald Trump’s presidency, ruling them unlawful under the IEEA. The decision not only delivers economic relief to American businesses but also reasserts judicial limits on executive authority. Globally, the ruling signals a retreat from unilateralism, offering renewed hope for stable, rules-based trade amid rising protectionism and fractured supply chains. As appeals proceed, the decision may redefine how nations negotiate and enforce trade policy. Read more at: https://legal.economictimes.indiatimes.com/news/editors-desk/us-court-overturns-trump-era-tariffs-triggering-global-trade-reset-and-curtailing-executive-power/121568271?ag=wappchnl&utm_source=wappchnl
The NCLT has approved Shailendra Ajmera as the new resolution professional for Byju's, replacing Pankaj Shrivastava. This change comes amidst disciplinary actions against Shrivastava, who had excluded Glas Trust and Aditya Birla Finance from Byju's Committee of Creditors. The tribunal has restored the previous CoC, reinstating Aditya Birla Finance as a financial creditor. Read more at: https://legal.economictimes.indiatimes.com/news/litigation/nclt-approves-appointment-of-shailendra-ajmera-as-resolution-professional-of-byjus/118539146?ag=wappchnl&utm_source=wappchnl
2024 saw significant changes in India's merger control with new deal value thresholds, revised Green Channel rules, and increased scrutiny of conglomerate mergers. The Competition Commission of India (CCI) introduced stricter criteria for Green Channel filings and emphasized overlap mapping in fund structures. These developments signal heightened regulatory vigilance for mergers and acquisitions in India. Read more at: https://legal.economictimes.indiatimes.com/news/opinions/the-indian-merger-control-rollercoaster-2024s-wild-ride/118593343?ag=wappchnl&utm_source=wappchnl
The Delhi High Court has allowed Amandeep Singh Batra and Ankush Anand to present their arguments at the Trial Court regarding the shootout incident. Batra and Anand contest the validity of the FIR lodged by Prateek Chaudhary, alleging it was fabricated to pressurize Batra during his divorce proceedings. Read more at: https://legal.economictimes.indiatimes.com/news/litigation/delhi-high-court-dismisses-amandeep-singh-batras-plea-allows-to-raise-plea-before-trial-court/118326521?ag=wappchnl&utm_source=wappchnl
The Union Budget 2025-26 introduces key exemptions under Basic Customs Duty to support domestic manufacturing and exports. Proposals include simplifying the tariff structure, creating an Interim Board for settlement, and revising MSME classification criteria to promote ease of doing business and reduce litigation. Read more at: https://legal.economictimes.indiatimes.com/news/law-policy/union-budget-2025-26-major-customs-duty-exemptions-to-boost-domestic-manufacturing-and-exports/117882606?ag=wappchnl&utm_source=wappchnl
Lemon Tree Hotels Limited has preponed Jyoti Verma's last working day as Group Company Secretary & Compliance Officer to January 27, 2025, upon her request. Jyoti Verma resigned to pursue other professional opportunities after serving in the role since November 2023 and possessing 21 years of experience in Corporate Compliance Management. Read more at: https://legal.economictimes.indiatimes.com/news/corporate-business/lemon-tree-hotels-jyoti-verma-resigns-as-compliance-officer-prepones-last-working-day/117618620?ag=wappchnl&utm_source=wappchnl
The National Company Appellate Tribunal partly allowed Meta's appeal against the Competition Commission of India's penalty for abusing its dominant position. The NCLAT stayed the cease-and-desist directions but upheld the need for behavioral remedies. The NCLAT's ruling sets a precedent for balancing personal data-sharing arrangements with maintaining fair competition, requiring transparency and fairness from dominant tech platforms. Read more at: https://legal.economictimes.indiatimes.com/news/corporate-business/nclat-grants-partial-relief-to-meta-experts-discuss-implications-on-competition-and-data-privacy/117593469?ag=wappchnl&utm_source=wappchnl