Articles and Updates

• Rituparno Bhattacharya -

In recent times, one of the most hotly debated provisions in agreements between Indian and US partners has been the “FCPA clause”. It is not unusual to see this innocuous boiler plate clause in US drafts bring negotiations to a halt due to the discomfort of Indian parties to contractually agree to the high standard set out under the US Foreign Corrupt Practices Act (FCPA).

• Saket Shukla -

Initial public offerings or IPOs in the Indian insurance sector have garnered much interest over the last couple of years. The spark that ignited this interest can be traced to Reliance Life Insurance Company Limited’s much publicized attempt to launch an IPO, which met with stern resistance from the Ministry of Finance and the Indian insurance sector regulator, the Insurance Regulatory and Development Authority (IRDA).

• Arun Madhu -

True to its word, the Department of Industrial Policy and Promotion ushered in the second half of the financial year with a new edition of the consolidated foreign direct investment (FDI) policy in India – Circular 2 of 2010. The document appears to be a concentrated effort at streamlining regulations and also providing clarity to foreign investors on the framework for investments.

• y Akanksha Midha -

Few pieces of legislation have made as immediate and wide-sweeping an impact as the Takeover Code did when it was first introduced in 1997. It was a milestone marking the beginning of India’s corporate growth and consolidation story. Thirteen years on, the country’s M&A space has grown from a gawky adolescent to a feisty young adult.

• Arun Madhu -

Using “multi-brand retail” and “foreign investment” in the same breath may no longer be taboo in light of the discussion paper recently released by the Department of Industrial Policy and Promotion on the subject. Retail trade has hitherto been a holy cow for Indian policymakers and the sector’s liberalization has been much resisted, given the socio-economic and political sensitivities surrounding it. The attempt to insulate retail trade from foreign investment is a protectionist move for the benefit o