13 Sep 2019

With around 65% of GDP in the organized sector coming from family businesses[1], their status as the ‘engines’ of India’s ever-growing economy cannot be underscored. Globally, 35% of Fortune 500 companies are family owned businesses[2]. However, it is startling to note that 70% of the family businesses globally are sold before the second generation gets a chance to take over while only 10% of family businesses are able to survive till the third generation.[3] Further, a study by BAF consultants reveals that 97% of family-run businesses in India don't have succession plan documents.[4]>>

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09 Sep 2019

Union Budget 2019 and Labour: Over the last few years, there have been talks by the government to reform the existing labour laws, which are mostly archaic, to make them compatible with current issues and needs of the labour market. In the Union Budget 2019, the Government has pushed ahead with such reforms and proposed to streamline over 44 central laws and over 100 State laws pertaining to labour into 4 major Labour Codes, with the objective of increasing the ‘ease of doing business’ and ‘Make in India’ initiatives. The Government hopes that by standardizing definitions, registrations, and filings, there would be less conflict and fewer reasons for disputes.>>

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05 Sep 2019

Centuries of subversion has pushed Indian women into a degenerative backslide and their emancipation depends largely on favourable legislation and their effective implementation. Stridhana is a respite for the economic uncertainty that most woman face in India created through their confinement to non-quantified housework. It is a practical solution that harmonizes gender disparity by weeding out the financial difference in a matrimonial arrangement. However, it is distressing that most women are unaware of such a crucial piece of legislation adopted for their empowerment. Moreover, in a country obsessed with male dominance, the idea of Stridhana is either alien to the lower strata or confused with dowry in the upper sections of the society.>>

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03 Sep 2019

With a view to attract further foreign investments into India, especially considering the slow-down in the Indian economy, the Reserve Bank of India (RBI) brought out certain relaxations on the end-use restrictions placed on External Commercial Borrowings[1] vide Circular RBI/2019-20/20 A.P. (DIR Series) Circular No. 04 dated 30th July, 2019[2] (hereinafter ‘the Circular’). Transactions on account of External Commercial Borrowings (ECB) and Trade Credit (TC) are governed by Section 6(3)(d) of the Foreign Exchange Management Act, 1999 (FEMA). In furtherance thereto, the RBI had brought out the ‘Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations’[3] which encapsulates the detailed provisions and stipulations in relation to ECB.>>

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