The Interconnect

Ketan Dalal (Managing Partner, Katalyst Advisors LLP)
Schemes of Arrangement – Possibilities Galore!

The term “Arrangement” used in the context of a Scheme of Arrangement (“Scheme”) has an extensively wide import and can be explored to achieve various commercial objectives could principally be in the form of external arrangement or an internal arrangement. Any Scheme seeking to achieve such commercial objectives would have wider ramifications from a tax and regulatory perspective in the backdrop of evolving tax and regulatory landscape vis-à-vis different arrangements.....

Funding in India – Changing Landscape

The World Bank's recent 'Ease of Doing Business index' showed that India has risen as much as 30 positions to rank 100th amongst 190 countries, which has been amongst the world's top ten improvers worldwide and a leading regional reformer. Moreover, the latest Ease of Doing Business report did not consider the implementation of the Goods and Services Tax (GST) from July 1.....

MAT levy under IND AS regime – An unintended blow to strategic debt restructuring? - Part 2

In part 1 of this article, we discussed the meaning of financial liability, its classification, measurement and possible MAT impact. In this part, we shall now discuss derecognition of financial liability under IND AS 109 and the possible MAT impact of derecognition as well as general principles governing MAT applicability......

MAT levy under IND AS regime – An unintended blow to strategic debt restructuring? – Part : 1

Currently, macro global factors apart, back at home, India Inc is reeling under the pressure of mounting debt, stressed assets and NPAs. With big corporate houses finding it difficult to manage their debt and the numbers sometimes running into thousands of crores, the Indian Government, RBI and the consortium of banks and creditors are now in overdrive, and seeking to address the situation......

Business Combinations: A Tryst with Taxation

It has been said that change is the only constant – and with changes comes the paradigm shift in how we perceive the same things. In this context, a transaction would definitely be perceived differently owing to the new accounting standards i.e. Indian Accounting Standards (“Ind-AS”) kicking in, inter alia, for all listed companies from FY17-18. As in any other situation (such as taxation matters), Ind-AS also focuses on the substance of the transaction rather than merely the form or nomenclature of the transaction.....

Resolving Stressed Accounts– tax derailment ?

Over a period of time, Indian businesses have expanded significantly and extended their reach to global markets. In order to support expansion, businesses have availed various types of finances / loans for setting up as well as running their business operations, from various stakeholders such as banks, financial institutions, private and strategic investors, etc. However, due to several factors such as downturn in global market conditions, intense pricing competition, technology disruptions, etc. many businesses have not been able to sustain their business operations.....

RERA – It takes Two to Tango!

“Disruption” – a term usually associated with the digital age – is also a term increasingly being used to describe the evolving Indian legal landscape. Owing to the seminal nature of the new laws being enacted, India Inc. cannot afford to perfunctorily adopt them, but would be required to embrace a completely new perspective in order to cope up with them. One such ground-breaking law is the Real Estate (Regulation and Development) Act, 2016 (“RERA”) which will have significant impact on the different players engaged in the real estate sector.....

Trusts, Taxation and Takeover Code – a Timeless Tussle!

Complexity in business environment has grown multi-fold owing to the impact of globalisation on geopolitical and financial markets. While the global economy has remained lull, India has been an exception to the same with the Indian promoter families having steered their businesses onto the path of profitability and growth and in the process have amassed significant wealth for themselves and their families. A recent trend shows that in order to facilitate seamless transition of wealth from one generation to another, Indian promoters have favoured “trust” as a holding vehicle.....

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