Since January 2020, there have been more than 10 public issues of non-convertible debentures (NCDs) and over 1,600 private placements of corporate bonds in India. M&A transactions in India have also increasingly witnessed NCDs as a preferred instrument for funding, which may be attributable to the benefits that NCDs could provide to investors vis-à-vis equity instruments. Separate regulatory frameworks apply to the acquisition of NCDs by registered foreign portfolio investors on the one hand and other foreign investors on the other hand. Accordingly, this note provides an overview of investment routes available to foreign investors in relation to NCDs.
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One of the most disruptive developments impacting deal-making in India in 2020 came on account of geopolitical dynamics (i.e. border tensions with China) rather than the COVID-19 pandemic. Earlier this year, owing to the geopolitical tensions between India and China at the Indo-China border, the Indian Government issued directions restricting all investments coming into India from entities situated in countries bordering India (including China). In this article, we analyse the implications of the restrictions introduced by the Indian Government on foreign investments in India and provide a high-level overview of FDI screening measures introduced in major countries around the world.
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Khaitan & Co acted as Indian legal counsel to Navico Holding AS in relation to sale of business of its Indian subsidiary. The Firm in collaboration with Wiersholm worked on structuring of the business transfer and advised on tax structuring, valuation of business and employee transfer related aspects of the transaction.
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ASA Legal Advices Government of India's Special Window For Completion of Construction of Affordable And Mid-Income Housing Projects (SWAMIH Investment Fund)
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Veritas legal represennted Partners Group in a private equity transaction. The Veritas team was led by Partners, Nandish Vyas and Srabonee Roy along with Associate Priyank Nanavaty.
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"If we need to bring in more prosperity, we need to empower women with independence and careers", says Ms Loomba in an exclusive interview with BW Legal World.
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On October 08, 2020, the Securities and Exchange Board of India (“SEBI”) notified amendments to its earlier regulations governing the listed debenture regime, namely, the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“ILDS Regulations”) and the SEBI (Debenture Trustees) Regulations, 1993. These amendments follow the circular dated October 05, 2020 (SEBI/HO/DDHS/CIR/P/2020/198) which seeks to standardize certain timelines for the private placement of securities (“Timelines Circular”). The article shares the attorney viewpoint on the key aspect that should be borne in mind.
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In tandem with the changes in the foreign investment regime, the Indian government has also rehauled the defence procurement policy and introduced the new Defense Acquisition Procedure 2020 (DAP 2020)
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