ELP Knowledge Series – India Update Part 2 of 2018

Over the last quarter, there have been a spate of regulatory and legal developments that have significant implications for domestic and foreign businesses alike – ‘India Update – Part 2 of 2018’ endeavours to examine these developments and present a succinct summary to our readers.

Government of India’s intent of promoting ease of doing business and creating parity with international regulatory standards is clearly manifest in the latest round of legislative reforms. In this document, we examine the improvements made to the country’s dispute resolution process by strengthening provisions relating to specific enforcement of contracts and reducing the scope of local courts to grant interim relief during ongoing arbitration proceedings. We also delve into the implementation guidelines recently notified for enabling outbound cross-border mergers and the new reporting structure for disclosing information on foreign investment in Indian companies.

Steps taken to boost investor confidence, such as placing foreign lenders’ at par with domestic entities under India’s insolvency framework and revising the country’s antiquated anti-corruption framework, are all tangible steps in the right direction. We have presented detailed analysis of these topics, as well as a discussion on impact of GST on India’s e-commerce sector and the latest developments in defence sector. We conclude by discussing potential competition law risks faced by technology businesses in India and examining cost ramifications arising from domestic and bilateral or international data privacy compliance requirements.

We hope you will find this information helpful. For any clarification or further information, please connect with your point of contact at ELP or reach out to us at insights@elp-in.com.