foreign exchange Archives

Khaitan & Co. acted as legal counsel to Citigroup Global Markets India Pvt. Ltd. in relation to block trade of equity shares of Kalyan Jewellers India Ltd.

DEAL DETAILS Citigroup Global Markets India Private Limited | Block trade of equity shares of Kalyan Jewellers India Limited by Highdell Investment

Case Briefs Tribunals/Commissions/Regulatory Bodies

If lessee is not actual owner of property, can actual rental expenses be claimed on return of income? ITAT decides

Income Tax Appellate Tribunal, Bangalore Benches (ITAT): The Bench of Chandra Poojari, AM and George George K, JM while partly allowing an

Legislation Updates Rules & Regulations

Interest on advance payment must not exceed 100 basis point above LIBOR rate

On September 08, 2021, the Reserve Bank of India has notified the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations,

Case Briefs Supreme Court

Can foreigners transfer/dispose of immovable property situated in India by sale or mortgage without RBI’s prior permission? SC explains the true import of Section 31 of FERA, 1973

“Merely because no provision in the Act makes the transaction void or says that no title in the property passes to the purchaser in case there is contravention of the provisions of Section 31, will be of no avail. That does not validate the transfer referred to in Section 31, which is not backed by “previous” permission of the RBI.”

Legislation Updates Notifications

Trading beyond onshore market hours in foreign exchange permitted — RBI

Risk Management and Inter-bank Dealings- Permitting AD Cat-I banks to voluntarily undertake user and Inter-Bank transactions beyond onshore market hours As announced