Khaitan & Co partner Raj Panchmatia successfully represents Man Industries

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India: The age of telephony has arrived

On 19 June 2018, the Department of Telecommunications, Government of India (DoT) finally provided its nod to several key recommendations (Recommendations) made by the Telecom Regulatory Authority of India (TRAI) on the Regulatory Framework for Internet Telephony in October 2017. DoT has released a clarification (Clarification) and certain amendments to existing licenses (Amendment), both of […]

India: Second ordinance to amend the Insolvency and Bankruptcy Code

The President of India promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance 2018 on 6 June 2018 (Ordinance) to amend the Insolvency and Bankruptcy Code 2016 (IBC). In the short history of around one and half years since the provisions relating to corporate insolvency resolution process under IBC came into force in December 2016, the […]

India: Amendments to securities board delisting regulations

Between 31 May to 1 June, the Securities and Exchange Board of India (SEBI) amended a number of securities regulations to provide certain dispensations for listed companies undergoing the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC). These amendments follow SEBI’s discussion paper of March 2018, which set out specific […]

India: Hotel is operator’s taxable presence

The Authority for Advance Rulings (AAR) recently ruled that the hotel property in India operated and managed by the applicant, FRS Hotel Group (Lux) S.a.r.l. (now FRHI Hotels & Resorts S.A.R.L) (Taxpayer) is its ‘fixed place’ permanent establishment (PE) in India. Accordingly, income of the taxpayer attributable to such PE in India is taxable as […]

India: Supreme Court clarifies NCLAT’s powers in appeal

On 18 May 2018, in M/s B Himmatlal Agrawal (Appellant) v Competition Commission of India (CCI) and Anr. [Civil Appeal No. 5029 of 2018], the Supreme Court of India (Supreme Court) distinguished the decision of the National Company Law Appellate Tribunal (NCLAT) while disposing of a statutory appeal under the Competition Act, 2002 (Competition Act). […]

Latest Briefings

Sentencing Council publishes gross negligence manslaughter definitive sentencing guideline

The penalties imposed on individuals for fatal accidents in the workplace are set to increase after the Sentencing Council for England and Wales published its definitive sentencing guideline for gross negligence manslaughter. Walker Morris health and safety experts, Stuart Ponting and Robert Starr, consider the new guideline and the implications for employers and directors…

Energy Update – August 2018

This energy update includes the following white papers: CMA publishes final report on Heat Networks calling for new regulation The first National Infrastructure Assessment is published recommending growth in Green Energy NAO report on package recycling Update on Electric Vehicles Amendment Regulations 2018 – in force 24 July 2018 The Mayor of London’s Energy Efficiency […]

Will the revised NPPF lead to more affordable housing?

By Katherine Evans On 24 July 2018, the long-awaited revised NPPF was released. The omission of social rented homes from definition of affordable housing in Annex 2 of the draft revised NPPF has been addressed. Starter Homes are now included in the definition but secondary legislation is still required to set out financial eligibility for […]

Luxembourg publishes law on VAT grouping

As foreseen in our previous newsflash, the law on VAT grouping has officially been published, last Friday. The text – which provides for an entry into force on 31 July 2018 – modifies the general VAT Law. It now enables Luxembourg entities sharing financial, economic and organisational links to set up a VAT group, thus allowing them to […]

Reform of the Portuguese pricing and reimbursement system

By Edward J. Dougherty Following a recent reform in 2015, the Portuguese pricing and reimbursement system is sophisticated and comprehensive. Nevertheless, substantial discretion is allowed to the competent national authority, and this is the source of most challenges for innovators…

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Ince & Co picks new management team as senior partner Wilson steps down

Ince & Co’s international senior partner James Wilson is to step down in January 2015 after two terms in office in favour of Hamburg managing partner Jan Heuvels. Heuvels, who is also the firm’s European head of insurance, will relocate to London. He will be responsible for the overall running of the firm, which has […]

Metro Bank seeks top 10 for lending and securities panel

Challenger high street banking chain Metro Bank has kicked off a panel review, which seeks to appoint just 10 lending and securities panel advisers by the end of the year. Despite the bank’s general counsel Sally-Ann James playing her cards close to her chest while the review is in progress, Eversheds and Hill Dickinson have already […]

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Kennedys chief executive Guy Stobart steps down

Kennedys chief executive officer Guy Stobart is to stand down from his role at the end of this year after five years in the role. Stobart will continue to work for Kennedys on a consultancy basis until April 2015. The firm is yet to make any decisions regarding a replacement. Stobart has been responsible for […]

Conyers advises Mitsui & Co on $21m share in Tsit Wing International Holdings

Conyers Dill & Pearman has provided Bermuda and British Virgin Islands (BVI) legal advice to Mitsui & Co in connection with its investment in the Hong Kong-based coffee and tea provider Tsit Wing International Holdings by way of a minority shareholding in Tsit Wing.  Tsit Wing is a supplier of coffee, tea, sugar, dairy products, […]

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