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FOREIGN DIRECT INVESTMENT BOOKLET

by Abhishek Bansal (abhishek.bansal@acumenjuris.com), Partner | Laxmi Sinha (laxmi.sinha@acumenjuris.com), Associate

Foreign Direct Investment (FDI), in addition to being a key driver of economic growth, has been a significant non-debt financial resource for India's economic development. Foreign corporations invest in India to benefit from the country's particular investment privileges such as tax breaks and comparatively lower salaries. This helps India develop technological knowhow and create jobs as well as other benefits. investments have been coming into India because of the government's supportive policy framework, vibrant business climate, rising global competitiveness and economic influence.

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MCA Relaxation To Hold Annual General Meeting Via VC/OAVM Amid COVID-19, And Arbitrary Relief To Only A Class Of Companies

by Kirti Dureja, Associate Partner

In view of the continuing restrictions on the movement of persons at several places in the country, Ministry of Corporate Affairs (MCA) now vide its circular dated 5th May, 20201 (“Circular-3”)has allowed companies to conduct their annual general meetings (AGM’s) through video conferencing (VC) or other audiovisual means (OAVM), during the calendar year 2020, subject to the fulfillment of the certain requirements. Earlier, MCA has provided provision for holding extraordinary general meetings (EGMs) through VC or OAVM facility upto 30th June, 2020 vide circular dated 8th April, 20202 (“Circular-1”) and 13th April, 20203 (“Circular-2”).

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Investments From China Require Government Approval- Fair Dealing Is A Key

by Abhishek Bansal,Partner I Laxmi Sinha, Senior Associate

The unequivocal lockdown declared by the Government of India towards the end of March 2020 is primarily considered to be the most potential and effective preventive measure against COVID-19. However, everything has its own cost and in the present case, where India is undergoing economic slowdown, which may make many Indian corporates an easy target for acquisition by foreign entities

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Employment In Times Of COVID-19 Pandemic APRIL 2020

by Pankaj Singla, Partner

The COVID -19 pandemic has caused disruption of business and life in the entire world and India is not immune to it either. The governments across the globe have taken several measures, some of which are unprecedented, in order to minimise the impact of this pandemic.

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COVID-19 Vis-A-Vis EXTENSION OF LIMITATION

by Govind Rishi, Partner | Pavish Singhla, Senior Associate

In its endeavour to contain COVID-19 pandemic, the government has promoting the idea of social distancing and issuing directions and taking other preventive and mitigating measures. Resultingly, with limited physical movement , accessibility of legal forums including the registry for the purposes of filing of proceedings (including petitions/applications/suits/appeals/all other proceedings) across India has become difficult for the litigants. Hence, Hon’ble Supreme Court acknowledging the unprecedented situation, , has taken suo moto cognizance and vide order dated March 23, 20201 (“Order”) has extended the period of limitation for all the proceedings with effect from March 15, 2020 till further orders.

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COMPANIES FRESH START SCHEME 2020 | RE-SET OF CORPORATE COMPLIANCE STRUCTURE

by Kirti Dureja, Associate Partner

During this difficult time, with a view to boost the economy and as a reform to promote ease of doing business, the government of India has been making tremendous efforts in clearing backlogs/disputes/appeals under direct and indirect taxes which has resulted in the launched settlement schemes under direct tax (vivaad se vishwas scheme) & indirect tax (sabka vishwas scheme).

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FAQs - COVID-19 Vis-À-Vis Force Majeure APRIL 2020

by Abhishek Bansal,Partner I Pavish Singhla, Senior Associate

1. What is meant by the term ‘force majeure’?
Force Majeure is defined to mean “superior force” or “an event or effect that can be neither anticipated nor controlled”. Force Majeure events may include events such as floods, war, terrorism, earthquakes, other natural calamities or other events that may neither be anticipated nor controlled.

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COVID-19 Vis-A-Vis IMPACT ON PERFORMANCE OF CONTRACTS

by Abhishek Bansa, Partner l Pavish Singhla, Senior Associate

The unforeseen pandemic COVID-191 has brought an extensive disruptive effect on the businesses, the world over. The rapid momentum of proliferation of COVID-19 and its lethal consequences has forced the nations globally to take unprecedented steps towards containing the outbreak and to recover from the pandamic, including the complete cessation of not only the international air traffic but also the domestic traffic within.