LEX-LUMIS

SEBI tightens rules pertaining to Related Party Transactions

The Securities and Exchange Board of India (SEBI), the Indian securities market regulator, notified through a press release (Press Release), amendments to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 relating to related parties (RP) and related party transactions (RPT) (Amendments). The Amendments will come into effect

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India scraps retrospective tax on indirect transfer of Indian assets

In a major development providing significant relief to the foreign investors, the Taxation Laws (Amendment) Act, 2021 (“Amendment Act”) was enacted on 13 August 2021, amending the contentious retrospective tax provisions under section 9 of the Income Tax Act, 1961 (“IT Act”) and section 119 of the Finance Act, 2012

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SUPREME COURT OF INDIA UPHOLDS ENFORCEMENT OF ARBITRAL AWARD

On 6 August 2021, in Amazon.Com NV Investment Holdings LLC Versus Future Retail Limited & Ors. the Supreme Court of India decided two important questions of law: whether an emergency award under the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) can be said to be an order

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SEBI notifies amendments pertaining to Independent Directors

The Indian securities market regulator, the Securities and Exchange Board of India (SEBI), in its Board Meeting held on 29 June 2021 took various significant decisions, including approving certain amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) pertaining to Independent Directors (IDs), based on which, on

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