Reporting under Foreign Exchange Management Act, 1999

A. INTRODUCTION:  Foreign Exchange Management Act, 1999 (FEMA) is administered through the authorized persons and is based on the declarations and averments made to them by persons while undertaking the transactions. The Reserve Bank, therefore, has prescribed various reports and forms under FEMA to be submitted by/ through Authorized Persons/ Authorized Dealer Category – I […]

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Personal Guarantor Insolvency under IBC

A. INTRODUCTION On 15th November, 2019, a notification was issued by the Ministry of Corporate Affairs which has rendered the insolvency and bankruptcy proceedings against personal guarantors to be governed by the Insolvency and Bankruptcy Code, 2016 (“IBC”) and the regulations in this regard came into force as on 01st December, 2019. For the purpose […]

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Special Courts under Companies Act, 2013

A. INTRODUCTION: The Ministry of Corporate Affairs vide notification dated 18th May, 2016 has notified certain provisions under the Companies Act, 2013 (“CA, 2013”) for the setting up of Special Courts to specifically deal with and dispose of criminal offences under the CA, 2013 which are punishable with imprisonment of a period of 2 years […]

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Compounding of Contravention under Foreign Exchange Management Act, 1999

A. INTRODUCTION: Contravention is a breach of the provisions of the Foreign Exchange Management Act (FEMA), 1999 and rules/ regulations/ notification/ orders/ directions/ circulars issued thereunder. Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. The provisions of section 15 of FEMA, 1999 permit compounding of contraventions. The Reserve […]

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Class Action Suits in India under Companies Act, 2013

A. INTRODUCTION: Class Action Suits, also known as a class-action lawsuit, class suit, or representative action, is a type of lawsuit where one of the parties is a group of people who are represented collectively by a member of that group. The concept of class action suits originated in the United States in the 18th […]

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Comparative Analysis of ESOP, Sweat Equity and Phantom Stocks

A. INTRODUCTION: With the growing job opportunities and the increase in competition, companies have to ensure that there is a minimization of attenuation and attrition of employees. For the purpose of ensuring the same, the companies offer incentives to their employees in the form of stock options and shares to ensure that the employees are […]

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Doing Business in India

Doing Business in India. Download: https://www.samistilegal.in/wp-content/uploads/2020/06/Doing-Business-in-India.pdf Authors: Prashant Jain, Co-Founder & Partner; Anita Dugar, Senior Associate. Disclaimer: The content of this article is intended to provide a general guide to the subject matter. For any queries, the authors can be reached at (i) prashant@samistilegal.in (ii) anitadugar@samistilegal.in.

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Compliance Calendar for the Financial Year 2020-2021

Download: https://www.samistilegal.in/wp-content/uploads/2020/06/Compliance-Calendar-FY-2020-21.pdf The Compliance Calendar sets forth the monthly, quarterly, half-yearly and annual compliances under the Companies Act, 2013, FEMA, SEBI and the general Labour Laws for the financial year 2020-2021. Authors: Prashant Jain, Co-Founder & Partner; Abhishek Gupta, Associate; Nisha Jhawar, Associate; Jaisis Srikrishna Das, Associate; Kriti Sanghi, Associate. Disclaimer: The content of this [&hell...

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Allotment of Securities by Unlisted Companies under Companies Act, 2013

A.  INTRODUCTION: Funding is crucial for corporate, not only to invest and to expand, but also to operate their daily business. When a company needs to raise funds, it may look at various options: debt, equity, venture capital, etc. Equity capital is funds paid into business by investors in exchange of common or preferred stock. […]

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Legal Due Diligence- A Path to a Fair Deal

A. INTRODUCTION: Legal due diligence is the investigation process that is carried out on a target company after the preliminary stage of negotiations are over with regards to a prospective deal. The objective of the legal due diligence is to identify the pros and cons, which tend to help understand the opportunities or threats associated […]

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