Volkswagen sues India over a $1.4 billion tax demand, claiming the penalty jeopardizes its $1.5 billion investment in India. The dispute centers on accusations of misclassifying imported car parts to evade higher duties.
The Indian government has unveiled a ₹10,000 crore Fund of Funds Scheme and extended startup incorporation benefits by five years to bolster the startup ecosystem.
In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman introduces the Jan Vishwas Bill 2.0 and a revamped Central KYC Registry to streamline procedures and expedite company mergers, enhancing the ease of doing business in India.
Shearn Delamore & Co. has expanded its presence by opening a new office in Johor Bahru, Malaysia, and appointing Eunice Low as a Partner in its Financial Services, Islamic Finance, and Real Estate practices.
Finance Minister Nirmala Sitharaman announced key tax reforms in Budget 2025-26, including TDS simplification, a new Income Tax Bill, and incentives for EV and mobile battery production. The TCS threshold on remittances under RBI's liberalized remittance scheme has been increased from ₹7 lakh to ₹10 lakh.
Finance Minister Nirmala Sitharaman announced a new Income Tax Bill to simplify tax laws and a 100% FDI limit in the insurance sector in Budget 2025-26. The government aims to enhance taxpayer compliance and attract global investments while improving financial inclusion and air cargo warehousing.
The Economic Survey of India highlights ongoing delays in the Insolvency and Bankruptcy Code (IBC) resolution process, with the Corporate Insolvency Resolution Process (CIRP) taking an average of 582 days, far exceeding the mandated timeline.
Busy Bee Airways has challenged the liquidation of Go First in the NCLAT, expressing its willingness to acquire the airline as a going concern. The tribunal will hear the case again on February 10, 2025, while concerns remain about the fate of 5,000 employees.
The Madras High Court dismissed PhonePe's trademark infringement lawsuit against BundlePe, ruling that the term "Pe" is a common element in the digital payments sector and cannot be exclusively owned by PhonePe.
Helmy, Hamza & Partners and Baker McKenzie advised MEDLOG Transport & Logistics on a major public-private partnership to develop a state-of-the-art dry port in Egypt, enhancing the country’s logistics infrastructure and contributing to a more sustainable future.
