Nirmal Ghorawat

Government Approval Route for Investment in India from Countries sharing land border with India

The Government of India vide Press Note 3 of 2020 issued by Department for Promotion of Industry and Internal Trade has amended para 3.1.1 of the Consolidated FDI policy, 2017. 3.1.1(a) A non-resident entity can invest in India, subject to the FDI Policy except in those sectors/activities which are prohibited. However, an entity of a…More

Prohibition of Acceptance of Deposits for the purpose of Lending by Unincorporated Business under the RBI Act, 1934

Section 45S of the RBI Act, 1984 prohibits any person being an individual, a partnership firm or an unincorporated association of individuals from accepting deposits if (a) his or its business, wholly or partly includes – the financing, whether by way of making loans or advances or otherwise, of any activity other than its own;…More

Blockchain & Crypto friendly jurisdiction : Malta

Malta (a small Island country in Mediterranean Ocean, near Italy in Europe) is a Blockchain & crypto-friendly Jurisdiction. It has promulgated 3 progressive laws to transparently regulate Blockchain & Cryptocurrency & NFTs etc. The Laws include The Malta Digital Innovation Authority Act, The Technology Arrangements and Services Act and the Virtual Financial Assets Act. Further,…More

SC Order on Revenue Appeal against quashing of Section 148 (old) Reassessment Notices by various High Courts

1 The Hon’ble Supreme Court of India has allowed in PART the appeals of Revenue against the orders of various High Courts in matters relating to issue of Reassessment Notices u/s 148 (from 01.04.2021 till date 04.05.2022) following the procedure under the unamended section 148 of Income Tax Act, 1961. 2 The Supreme Court has…More

(Reblog) Perspectives on Life Insurance Industry In India

First published on 31 January 2013 Synopsis 1 Background of the Insurance Sector 2 Snapshot of the Performance of the Life Insurance Sector post Liberalisation 3 Is LIC – A beneficiary of Liberalisation? 4 The Effect: Increase in Insurance Consumption 5 Role of Advertising – To create Insurance Awareness a. Bima Bemisaal – The Insurance…More