Articles and Updates

• Phoenix Legal - 28-11-2017

Two days prior to observance of 'Anti-Black Money Day' by the Government of India to mark the first anniversary of demonetisation, comes the largest ever leak of financial data dubbed the 'Paradise Papers'. The Hunk of 13.4 million documents relating to offshore investment, leaked to the public on 5 November, 2017. It is suggested that the documents originate from the offshore law firm Appleby, the corporate services providers Estera and Asiaciti Trust, and business registries in 19 tax jurisdictions, often referred to as 'tax paradises'.

• Sawant Singh and Aditya Bhargava - 15-11-2017

On 20 July, foreign portfolio investors (FPIs) and investors in rupee denominated bonds (RDBs) got an unwelcome surprise in the form of a circular from the Securities and Exchange Board of India (SEBI) that effectively halted the subscription of corporate debt by FPIs and other foreign investors. But twin late-September moves by SEBI and the Reserve Bank of India (RBI) have restored some level of certainty for FPIs and foreign investors as well as Indian borrowers.

• - 06-11-2017

Paradise Papers’ revelations — a new treasure-trove of information on the offshore finances of the super rich — sent the Narendra Modi government into a scurry on Monday, with the Centre deciding to reconstitute the multi-agency group set up last April for Panama Papers’ probe.

• Phoenix Legal - 28-09-2017

Valuation of assets is one of the core features of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (Code). However, there are various clarifications that are yet to be provided by the Insolvency and Bankruptcy Board of India (Board) in relation to provisions pertaining to valuation of assets as provided under the Code and the Regulations. One of the prominent controversies in relation to valuation of assets is the lack of clarity surrounding interpretation of the term 'liquidation value' under the Code.

• Phoenix Legal - 28-09-2017

Valuation of assets is one of the core features of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (Code). However, there are various clarifications that are yet to be provided by the Insolvency and Bankruptcy Board of India (Board) in relation to provisions pertaining to valuation of assets as provided under the Code and the Regulations. One of the prominent controversies in relation to valuation of assets is the lack of clarity surrounding interpretation of the term 'liquidation value' under the Code.