On September 30, 2024, the Central Board of Indirect Taxes and Customs (CBIC) announced that, effective April 1, 2025, tax authorities will cease the registration of new cases of profiteering under the Goods and Services Tax (GST) regime. In an article titled “𝐂𝐮𝐫𝐭𝐚𝐢𝐧𝐬 𝐝𝐨𝐰𝐧 𝐟𝐨𝐫 𝐆𝐒𝐓 𝐚𝐧𝐭𝐢-𝐩𝐫𝐨𝐟𝐢𝐭𝐞𝐞𝐫𝐢𝐧𝐠 𝐥𝐚𝐰, 𝐧𝐨 𝐟𝐫𝐞𝐬𝐡 𝐜𝐚𝐬𝐞𝐬 𝐚𝐟𝐭𝐞𝐫 𝐭𝐡𝐢𝐬 𝐟𝐢𝐬𝐜𝐚𝐥” published in the Financial Express (India), our Partner, Rajat Bose, emphasized that the sunset clause for anti-profiteering provisions enables businesses to be flexible on prices based on actual costs incurred and market price trends. He commended this change, stating, “It will enable businesses to factor in market conditions to determine prices of their goods.” Click here to read more – https://lnkd.in/gtWZ53Re #CBIC #Antiprofiteering #IndirectTax #Customs #Businesses
About us
Shardul Amarchand Mangaldas & Co, among India’s premier law firms, is built on a century of excellence (founded in May 2015, post-split with erstwhile Amarchand Mangaldas) We are one of India’s leading law firms rated by international organisations, law directories and professional journals. As a full service legal Firm, we are well known in the business community for our ability to enable business, offering innovative solutions, our responsiveness, and collaboration with our clients. We have 850 plus lawyers, including 182 Partners, offering legal services through our offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai. We deliver original and exceptional solutions in the field of mergers & acquisitions, tax, competition law, dispute resolution & arbitration, media & entertainment, insurance, regulatory litigation, capital markets and private equity practices. SAM & Co. is an exclusive member firm of Lex Mundi in India. Key Leaders: Dr. Shardul S. Shroff ([email protected]) Executive Chairman Pallavi S. Shroff ([email protected]) Managing Partner Akshay Chudasama ([email protected]) Managing Partner Ph: 91 11 41590700(Del) Ph: 91 22 49335555 (Mum)
- Website
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https://www.amsshardul.com/
External link for Shardul Amarchand Mangaldas & Co
- Industry
- Legal Services
- Company size
- 501-1,000 employees
- Type
- Partnership
- Founded
- 2015
- Specialties
- General Corporate (includes M&A & PE), Capital Markets, Competition Law, Dispute Resolution, Banking & Finance, Tax, Intellectual Property, Insolvency & Bankruptcy, White Collar Crime , TMT, and Infrastructure, Energy and Project Finance
Locations
Employees at Shardul Amarchand Mangaldas & Co
Updates
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We are delighted to announce that our Partner, Shreya Jain, has been appointed as a Regional Representative of Young ICCA for the term 2024-26. In this role, Shreya will support Young ICCA with its events, editorial, scholarship and mentoring programmes. Young ICCA is a leading global network for under-40 practitioners in international arbitration, functioning under the auspices of the International Council for Commercial Arbitration (ICCA). It has over 16,000 members across 144 jurisdictions. Please join us in congratulating Shreya on this well-deserved appointment! #YoungICCA #Arbitration #RegionalRepresentative #InternationalArbitration #DisputeResolution #Appointment
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We are pleased to share that our Partner, Radhika M Dudhat will be a part of the panel discussion on "𝐄𝐒𝐆 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐂𝐨𝐧𝐭𝐫𝐨𝐥𝐬" at the National Conference being organized by The Board of Internal Audit and Management Accounting, Institute of Chartered Accountants of India (ICAI) and Digital Accounting & Assurance Board of the ICAI slated for 15 October 2024 in Jaipur. Radhika will be sharing her experience and thoughts on ESG integration and understanding the regulatory landscape along with the upcoming future trends in the industry. Other esteemed panellists shall include SVMD Rao, Executive Director, SEBI; CA. Raj Mullick, Sr. Executive Vice President and Controller and Chief Business Performance and Financial Analysis – Reliance Industries Limited; Lee White, IFAC CEO. The panel will be moderated by CA. Satya Narayan Bansal. #ICAI #ESG #InternalControls #Nationalconference
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We advised Pigments Spain S.L., a part of the Altadia Group, in its acquisition of a majority controlling stake in NAHAR COLOURS AND COATING PRIVATE LIMITED, a company involved in the manufacturing of ceramic frits, engobes, and compound glazes for ceramic tile bodies in India. Headquartered in Castellon, Spain, Altadia Group is owned by The Carlyle Group and is one of the largest global manufacturer of intermediate products for the production of ceramic tiles. The transaction team was led by Abhishek Guha, Partner; Tanya U., Partner; Amrita Ghosh, Senior Associate; and Akanksha K., Senior Associate. The due diligence team was led by Abhishek Guha (Partner), Tanya U. (Partner), Mukul Baveja (Partner), Madhur Chopra (Principal Associate), Akanksha K. (Senior Associate), Chayanika Goyal (Senior Associate), Amrita Ghosh (Senior Associate) and Srijan Srivastava (Associate). Radhika M Dudhat (Partner), Bhoumick Vaidya (Partner), Rachna Bagri (Counsel), Harshini Kotecha (Senior Associate) and Vidhi Maniar Sanghavi (Senior Associate), advised on real estate related aspects. Neelakantan VR, Partner, Dnyanraj Desai, Partner, Shubham Sharma (Senior Associate), Priyanka Sheth (Counsel), Dhwani Baxi (Senior Associate) advised on certain infrastructure related aspects. https://lnkd.in/gBnViyUj #Altadiagroup #acquisition #naharcolours
Altadia Group is pleased to announce the acquisition of a majority stake in Nahar Colours & Coating Private Limited. This strategic move strengthens Altadia’s future positioning, particularly within our key growth markets in India and the Asia Pacific region. We are delighted to welcome Nahar’s skilled executives and employees to the Altadia family, as we work together to enhance our service to our customers and continue growing. El Grupo Altadia tiene el placer de anunciar la adquisición de una participación mayoritaria en Nahar Colours & Coating Private Limited. Este movimiento estratégico refuerza el posicionamiento de Altadia, especialmente en nuestros mercados clave de crecimiento en India y la región de Asia-Pacífico. Nos complace dar la bienvenida a los valiosos ejecutivos y empleados de Nahar a la familia Altadia, mientras trabajamos juntos para continuar el excelente servicio a nuestros clientes y seguir creciendo. #Altadia #GlobalPresence #Innovation #Growth
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We are pleased to announce that our environment Partner, Radhika M Dudhat, has authored an insightful analysis of the PM E-Drive Scheme, titled “𝐀𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐭𝐡𝐞 ‘𝐏𝐌 𝐄-𝐃𝐫𝐢𝐯𝐞’ 𝐒𝐜𝐡𝐞𝐦𝐞,” published in the ET EnergyWorld. This article elucidates the Scheme’s recent implementations across various industries, emphasizing the promotion of electric mobility in India. The analysis advocates for the adoption of electric vehicles that extends beyond mere emission concerns to encompass the use of sustainable technologies. It examines key components of the PM E-Drive Scheme, including the introduction of e-vouchers, the promotion of e-ambulances, and the modernization of MHI test agencies, among other relevant aspects. Furthermore, the article underscores the significance of the Scheme in advancing the integration of the Sustainable Development Goals set forth by the United Nations. Click here to read more: https://lnkd.in/gQqvY7fb #PMEDrive #Scheme #Climate #Sustainabledevelopmentgoals #SDGs #Unitednations
An overview on the ‘PM E-Drive’ scheme - ET EnergyWorld
energy.economictimes.indiatimes.com
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Our Partner, Gouri Puri has been quoted in a detailed analysis on the new tax rules for share buyback titled “𝐍𝐞𝐰 𝐬𝐡𝐚𝐫𝐞 𝐛𝐮𝐲𝐛𝐚𝐜𝐤 𝐭𝐚𝐱 𝐫𝐮𝐥𝐞𝐬 𝐦𝐚𝐲 𝐦𝐚𝐤𝐞 𝐜𝐨𝐬 𝐩𝐚𝐮𝐬𝐞” published in the LiveMint . Commenting on the rules, Gouri said, “The tax treatment of buyback and dividend has been made comparable. Therefore, there is no incentive to repatriate cash by way of a buyback as against a dividend, which was previously the case for Indian promoters". She further mentioned that “A buyback was preferred by an Indian promoter previously since it only attracted a 23.3% tax in the hands of the company undertaking the buyback. On the other hand, dividends could be taxed up to 35.88% in the hands of the promoter shareholder". Read the full story here - https://lnkd.in/gAnrQ5Xm #Shares #Buyback #Rules #Tax #Shift #Shareholders
New share buyback tax rules to kick in tomorrow. Say hello or goodbye?
livemint.com
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Tejas Karia, Aashish Gupta, Krishna Tangirala and Chandni Ghatak
BharatPe has reached a definitive agreement with its former co-founder, Ashneer Grover. As part of the settlement, Grover will not be associated with BharatPe in any capacity or be part of the company's shareholding. Read the details of the Settlement here: https://lnkd.in/dDrgTyw8 Law firms Sim And San and Trilegal led the settlement discussions on behalf of BharatPe, along with BharatPe General Counsel Sumeet Singh Sim and San team was led by Senior Partners Mohit Goel and Sidhant Goel. Partners Anuj Berry and Sourabh Rath led the Trilegal team. Trilegal also advised Bharat Pe on the corporate law aspect through a team led by Partners Harsh Maggon, Ganesh Rao, Sneha Vardhan, and Adhunika Premkumar A team from Shardul Amarchand Mangaldas & Co handled the matter before the Singapore International Arbitration Centre (SIAC) through a team led by Disputes Partner Tejas Karia, FCIArb. MZM Legal LLP Legal handled the criminal matters through a team led by Partners Zulfiquar Memon, Parvez Memon, Vivek Jain and Mrinal Bharti. On behalf of Ashneer Grover, the settlement discussions were led by Advocates Giriraj Subramanium and SHONAK SHARMA. #AshneerGrover #BharatPe #BharatPeAshneerGroverSettlement #BarandBench
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Our Partner, Sarika Raichur conducted a training session for approximately 250 law officers and senior management personnel of the Indian Bank(PSB) on the #DigitalPersonalDataProtectionAct, 2023. The topic of the session was “Digital Personal Data Protection Act-Landscape and its Impact on the Banking Sector in India” and was held at the #IndianBankManagementAcademyForGrowth & #Excellence (#IMAGE), Chennai on the 21st of September. She was assisted by her team comprising of Akshaya Srinivasan, Principal Associate, Abhishek Mahendran, Senior Associate and Sai Dharshini Venkatesan, Senior Associate, who also shared their insights with the participants on the implications of the #legislation on the banking sector. #DigitalPersonalDataProtectionAct #Data #Privacy #IndianBank #BankingSector #LawOfficers #Growth #Excellence
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The International Financial Services Centres Authority (IFSCA) in collaboration with Gujarat International Finance-Tec (GIFT) City and Gujarat National Law University, Gandhinagar (GNLU) is organizing a conference on “𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐢𝐧𝐠 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐃𝐢𝐬𝐩𝐮𝐭𝐞 𝐑𝐞𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐫𝐛𝐢𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐂𝐞𝐧𝐭𝐫𝐞 𝐢𝐧 𝐆𝐈𝐅𝐓-𝐈𝐅𝐒𝐂” on 28th September 2024 in the GIFT City, Gujarat. Our Partner & Head – Arbitration, Tejas Karia, FCIArb will be speaking at a panel discussion on “𝐄𝐧𝐯𝐢𝐬𝐢𝐨𝐧𝐢𝐧𝐠 𝐆𝐈𝐅𝐓-𝐈𝐅𝐒𝐂 𝐚𝐬 𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐢𝐬𝐩𝐮𝐭𝐞 𝐑𝐞𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐇𝐮𝐛”, which will encompass key insights on how the International Arbitration Centre, GIFT-IFSC may stand out and compete with the established global ADR Centres. #GIFTcity #ADR #DisputeResolution #Centre #IFSCA #GNLU
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We are happy to share that our Disputes team, led by Partner Shally Bhasin, along with Principal Associate, Prateek Gupta, Senior Associate, Prateek Yadav and Associate, Jyotsna Punshi along with Counsel, Grishma Ahuja and Principal Associate, Shalin Jani from the SAM Ahmedabad Team, successfully represented Appellants, Kailashben Mahendrabhai Patel and Rahul Patel, before the Hon’ble #SupremeCourt. We secured a favorable verdict, whereby the Hon’ble Supreme Court directed for quashing of both the #FIR and the #chargesheet and set aside the Order passed by the #HighCourt of Bombay, Aurangabad Bench which held that a prima facie case is made out against the Appellants. Our Executive Chairman, Dr. Shardul S. Shroff served as the Advocate-on-Record in this matter. The Hon’ble Supreme Court, while allowing the #CriminalAppeal and quashing the FIR, highlighted that this case exemplifies an “abuse of criminal process” and ruled that it would be unjust to subject the appellants to the full criminal procedure especially when the allegations are vague and omnibus. The Court also reiterated that there is “no prohibition against quashing criminal proceedings even after a charge sheet has been filed.” The Court further remarked that, “the criminal proceedings were instituted with a mala fide intention only to harass the appellants…” Read More: https://lnkd.in/gDP8bwaE #DisputeResolution #SupremeCourt #BombayHighCourt #CriminalProceedings #Verdict #FairAndJust #JusticeServed
'Abuse Of Criminal Process, Vague Allegations' : Supreme Court Quashes Wife's S.498A Case Against In-Laws
livelaw.in