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Poverty, Working Conditions and Wages: Legal and Reputational Risks in a Globalised World

[Deeksha Malik is the Founder-Editor at IRCCL.] On January 16, 2018, China Labour Watch released a report titled Apple’s Failed CSR Audit: A Report on Catcher Technology Polluting the Environment and Harming the Health of Workers pursuant to its investigation conducted at the premises of Catcher Technology (Suqian) Co. Ltd., which specialises in light metal technology and manufactures products for leading multi-national companies such as Apple and Dell. The report made serious revelations in relation to the working conditions at the company’s site. The workers were not aware of the toxic substances they would come in contact with, nor were they provided with adequate safety training and prot

Dissecting the FPI Regulations 2019

[Soham Goswami and Dibya Prakash Behera are Editors at IRCCL.] On 23 September 2019, the Securities and Exchange Board of India (SEBI) issued the SEBI (Foreign Portfolio Investors) Regulations 2019 (2019 Regulations). The 2019 Regulations repeal the regulations of 2014 by the same name (except in the circumstances explained later in the summary) and are based on the findings of a report (FPI Report) prepared by a committee chaired by Harun Khan, former deputy Governor of the Reserve Bank of India dealing with foreign portfolio investors (FPIs). The FPI Report deals with the consolidation of the existing regulations and circulars issued by the regulatory authorities with respect to foreign po

Mandatory Registration of Transfer Deeds under Section 2(47)(v), Income Tax Act, 1961: A Critique on

[Paras Ahuja is a student at National Law University, Jodhpur.] What may appear to be a piffling case of judicial interpretation may have significant ramifications. One of such pertinent yet not so widely discussed issues is the erroneous interpretation of the expression 'of the nature referred to in Section 53A of the Transfer of Property Act, 1882' as used in Section 2(47)(v) of the Income Tax Act, 1961 (ITA). The interpretation of the expression was first elaborately discussed in the case of Commissioner of Income Tax v. Balbir Singh Maini, the ratio of which was subsequently followed in several other cases and more recently in the Bombay High Court judgement of Principal CIT v. MR. Farde

SEBI’s Recent Amendment to the Insider Trading Regulations and the Critical Considerations

[Rishabh Sharma is a student at NALSAR University of Law.] The Securities and Exchange Board of India (SEBI) has always been faced with formidable challenges in prosecution of insider trading cases. The success rate of solving such cases and the investigation timelines are tremendously impacted by the difficulties encountered in procuring primary evidence. On August 21, 2019, SEBI approved the SEBI (Prohibition of Insider Trading) (Third Amendment) Regulations, 2019 (Amendment) to bring amendments in the SEBI (Prohibition of Insider Trading) Regulations, 2015 (Insider Trading Regulations) for the purpose of introducing an informant mechanism for limiting insider trading and safeguarding the

Assured Returns on Foreign Direct Investments via Indirect Arrangements

[Jayesh Kumar Singh is a student at National Law University, Jodhpur] India, the fastest growing economy in the world, is a major destination for foreign direct investment (FDI). As of 31 March 2019, the FDI inflow in India stood at $610 billion. Additionally, India has consistently been ranked among the top 20 countries in the FDI Confidence Index. The FDI in India is majorly governed by the Foreign Exchange Management (Transfer or Issue of Securities by a Person Resident Outside India) Regulations 2017 (TISPRO Regulations) framed under the Foreign Exchange Management Act 2002 (FEMA). FDI refers to an investment through capital instruments by a non-resident in an unlisted company, or in 10%

Hitachi Singapore's LO to Constitute PE in India : Delhi ITAT Rules

[The following update has been brought to you by Dibya Prakash Behera, Manager and Editor.] Recently, the Delhi Income Tax Appellate Tribunal (ITAT/Tribunal) held that the liaison office of Hitachi Singapore (Assessee) in India would constitute its permanent establishment (PE) in India, thereby being subject to tax for the income arising within India. The ruling holds much significance as it draws a clear distinction between the activities of a liaison office and a branch office. The ITAT, while holding the same, has also clarified certain contours of the DTAA entered into between the countries by drawing a comparison with other similar agreements. The assessee had established a liaison offi

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