Notes on Indian law filed under Transaction advisory, published by Juris Eagle.https://juriseagle.com/insights/practice/transaction-advisoryen-inMon, 09 Nov 2026 12:40:42 GMThttps://juriseagle.com/disclaimerhttps://juriseagle.com/insights/buying-an-antiquity-in-india-registration-export-and-titlehttps://juriseagle.com/insights/buying-an-antiquity-in-india-registration-export-and-titleOn our reading of section 2(1)(a) of the Antiquities and Art Treasures Act, 1972 (the Act), a work of art or craftsmanship becomes an antiquity once it has been in existence for not less than one hundred years, and a manuscript or record of scientific, historical, literary or aesthetic value becomes one at seventy-five years. Section 3 bars its export by anyone other than the Central Government or an authority it authorises. A business of selling it needs a licence under section 5, an object in a category the Central Government notifies under section 14 must be registered within fifteen days of coming into a person's ownership, control or possession, and section 19 lets the Central Government acquire it compulsorily for a public place. An export or attempted export in breach of section 3 carries imprisonment of six months to three years and a fine under section 25(1), and a breach of the licensing or registration sections carries up to six months, a fine or both, and makes the object liable to confiscation.Sat, 07 Nov 2026 00:00:00 GMTAdv. Adithya Karthik KTradecivil-disputestransaction-advisoryhttps://juriseagle.com/insights/canadian-pension-funds-indian-infrastructure-tax-exemptionhttps://juriseagle.com/insights/canadian-pension-funds-indian-infrastructure-tax-exemptionSchedule V of the Income-tax Act, 2025 (Table, Sl. No. 7) leaves out of total income the dividend, interest and long-term capital gains that a notified foreign pension fund or sovereign wealth fund earns on investment in specified Indian infrastructure vehicles, if the investment is made on or after 1 April 2020 and on or before 31 March 2030 and held for at least three years. The fund must be named in a Central Government notification. No Canadian fund is named in the Act; a notification decides it. Where the exemption does not apply, Articles 10 and 11 of the India-Canada tax agreement leave India's tax on dividends at the domestic 20 per cent under section 207, because the treaty ceiling of 25 per cent is higher, cut to 15 per cent for a company holding at least 10 per cent of the votes, and cap tax on interest at 15 per cent. India and Canada have no investment treaty in force, on the Department of Economic Affairs list.Wed, 28 Oct 2026 00:00:00 GMTAdv. Adithya Karthik KTradetransaction-advisorycapital-marketshttps://juriseagle.com/insights/ecms-incentives-thresholds-and-clawbackhttps://juriseagle.com/insights/ecms-incentives-thresholds-and-clawbackThe Electronics Component Manufacturing Scheme (ECMS), notified by the Ministry of Electronics and Information Technology (MeitY) on 8 April 2025 with an outlay of INR 22,919 crore including administrative expenses, pays turnover-linked incentive at 1 to 10 per cent of incremental sales, capex incentive at 25 per cent of eligible capital expenditure, or both together for the two selected bare components in segment C. Every rate is conditional: 1 percentage point of the turnover rate, or 5 points of the capex rate, is released only if an employment threshold is met, and the guidelines cap total incentive at 50 per cent of eligible investment. The portal states that the window for segments A, B, C and E closed on 30 September 2025 and that the segment D window remains open until 30 April 2027.Wed, 28 Oct 2026 00:00:00 GMTDr. Vijay MishraManufacturing and incentivestransaction-advisorycontracts-and-procurementip-and-licensinghttps://juriseagle.com/insights/india-uk-ceta-in-force-secondment-and-no-investment-treatyhttps://juriseagle.com/insights/india-uk-ceta-in-force-secondment-and-no-investment-treatyThe India and United Kingdom Comprehensive Economic and Trade Agreement (CETA), signed on 24 July 2025, entered into force on 15 July 2026, together with the Double Contributions Convention (DCC) on social security. For a United Kingdom engineering or services business it lowers Indian import duty in stages, opens a defined list of Indian central government tenders, and sets the permitted length of stay for staff sent to India. The DCC keeps a seconded United Kingdom employee under National Insurance for up to 60 months. No investment treaty came with it: the 1994 bilateral investment treaty (BIT) ended on 23 March 2017, and the Department of Economic Affairs list shows no replacement.Wed, 28 Oct 2026 00:00:00 GMTAdv. Harsha Swaroop PTradecontracts-and-procurementtransaction-advisoryemploymenthttps://juriseagle.com/insights/qatari-investor-in-india-1999-treaty-tail-and-tax-ruleshttps://juriseagle.com/insights/qatari-investor-in-india-1999-treaty-tail-and-tax-rulesNo India-Qatar investment treaty is in force on the register of the Department of Economic Affairs (DEA), which records the 1999 treaty as terminated on 23 March 2017 and lists no later Qatar entry. On its words, the 1999 text stays effective for ten years after termination for investments made before that date, that is until 23 March 2027, with fair and equitable treatment, expropriation and arbitration clauses. A new bilateral investment treaty was still under negotiation on 18 February 2025, when the leaders agreed to expedite it. Tax rules sit apart: a revised double taxation agreement was signed on that visit, and Schedule V of the Income-tax Act, 2025 can exempt the income of a notified sovereign wealth fund.Wed, 28 Oct 2026 00:00:00 GMTDr. Vijay MishraTradetransaction-advisorycontracts-and-procurementhttps://juriseagle.com/insights/shanti-act-private-nuclear-licences-and-liabilityhttps://juriseagle.com/insights/shanti-act-private-nuclear-licences-and-liabilityThe Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act, 2025 (Act No. 39 of 2025), which received assent on 20 December 2025 and was published in the Gazette of India on 21 December 2025, repeals the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010, and, once in force, makes any company incorporated in India, alone or in a joint venture, eligible for a licence to build, own, operate and decommission a nuclear power plant, with no equity ceiling in the text. The operator's liability for nuclear damage is capped by reactor size at INR 100 crore to INR 3,000 crore, the Act gives the operator a right of recourse only where a written contract provides it or the incident was intentionally caused by an individual, and it comes into force only on a date the Central Government notifies, a notification we have not found.Wed, 28 Oct 2026 00:00:00 GMTDr. Vijay MishraProjectsprojects-and-landcontracts-and-procurementtransaction-advisoryhttps://juriseagle.com/insights/what-protects-a-japanese-investor-in-indiahttps://juriseagle.com/insights/what-protects-a-japanese-investor-in-indiaThe India-Japan Comprehensive Economic Partnership Agreement (CEPA), signed at Tokyo on 16 February 2011, has its own investment chapter, Chapter 8, and the Department of Economic Affairs register of bilateral investment treaties (BITs) lists no India-Japan BIT, so India's 2016 and 2017 BIT terminations appear not to have touched it. Chapter 8 gives national and most-favoured-nation treatment, the customary minimum standard, protection against uncompensated expropriation and free transfers, with arbitration after six months of consultation and within three years of knowing of the loss. Taxation sits outside the CEPA: the India-Japan Double Taxation Avoidance Agreement (DTAA), as amended in 2006 and 2015, caps source-state tax on dividends, interest and royalties at 10 per cent of the gross amount for a beneficial owner.Wed, 28 Oct 2026 00:00:00 GMTAdv. Adithya Karthik KTradetransaction-advisorycontracts-and-procurementhttps://juriseagle.com/insights/aif-co-investment-scheme-three-times-caphttps://juriseagle.com/insights/aif-co-investment-scheme-three-times-capSince 9 September 2025 a Category I or Category II alternative investment fund (AIF) may offer its accredited investors a co-investment in a portfolio company through a separate co-investment scheme of the fund itself, and no longer only through a co-investment portfolio manager. Each such scheme holds one investee company, cannot borrow, exits when the main scheme exits, and caps an investor's co-investment at three times what that investor put into the same company through the main scheme. Multilateral and bilateral development financial institutions, State Industrial Development Corporations and entities established, owned or controlled by the Central Government, a State Government or a foreign government, including central banks and sovereign wealth funds, are outside the cap.Mon, 14 Sep 2026 00:00:00 GMTAdv. Adithya Karthik KPrivate Equity & Fundscapital-marketstransaction-advisoryhttps://juriseagle.com/insights/semicon-2-0-eligibility-2026https://juriseagle.com/insights/semicon-2-0-eligibility-2026Semicon 2.0, notified on 31 August 2026, cut fiscal support for a silicon wafer fab to 40 per cent of eligible capital expenditure from the up to 50 per cent the first programme carried. The percentage is the least of it. An applicant for that pillar must already show minimum capital investment of INR 20,000 crore, revenue of INR 7,500 crore in any of the three financial years before it applies, and production grade technology it owns or licenses. The design pillar adds a condition on who owns and controls the applicant.Wed, 09 Sep 2026 00:00:00 GMTDr. Vijay MishraManufacturing and incentivestransaction-advisoryip-and-licensingprojects-and-landhttps://juriseagle.com/insights/nri-or-oci-selling-property-in-india-and-remitting-abroadhttps://juriseagle.com/insights/nri-or-oci-selling-property-in-india-and-remitting-abroadA non-resident Indian (NRI) or an overseas citizen of India (OCI) cardholder may sell immovable property in India to a person resident in India, and the Reserve Bank of India's directions under the Foreign Exchange Management Act, 1999 (FEMA) let an authorised dealer bank send the money abroad, but each exit route has its own cap and conditions. For a sale in the tax year that began on 1 April 2026, the buyer's duty to withhold tax sits in section 393(2) of the Income-tax Act, 2025, long-term gains are taxed at 12.5 per cent under section 197, and remitting a Non-Resident (Ordinary) Rupee (NRO) account balance is limited to USD 1 million per financial year without the Reserve Bank's prior approval.Tue, 25 Aug 2026 00:00:00 GMTAdv. Harsha Swaroop PTaxrera-and-real-estatetaxation-and-fiscaltransaction-advisoryhttps://juriseagle.com/insights/semiconductor-equipment-scomet-licensing-2026https://juriseagle.com/insights/semiconductor-equipment-scomet-licensing-2026India's export control list for dual use items, the Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) list, was revised by the Directorate General of Foreign Trade (DGFT) on 23 September 2025, to take effect 30 days after issue. The revision filled Category 7, until then reserved, with emerging technology items, among them advanced chip manufacturing tools for lithography, low temperature epitaxy, deposition and dry etching, while Category 8 keeps the general semiconductor equipment entry. A fab or tool supplier that exports, sends for repair, re-exports or transfers technology for these items needs a DGFT authorisation first, files an end user certificate, and keeps records for at least five years.Fri, 07 Aug 2026 00:00:00 GMTDr. Vijay MishraTrade controlsip-and-licensingcontracts-and-procurementtransaction-advisoryhttps://juriseagle.com/insights/mauritius-fpi-additional-disclosure-frameworkhttps://juriseagle.com/insights/mauritius-fpi-additional-disclosure-frameworkA foreign portfolio investor (FPI) that holds more than 50 per cent of its Indian equity assets under management (AUM) in one Indian corporate group, or more than INR 50,000 crore of Indian equity AUM alone or with its investor group, must give its designated depository participant (DDP) the name of every person with any ownership, economic interest or control in it, down to natural persons. The Securities and Exchange Board of India (SEBI) set this out in a circular of 24 August 2023 under regulations 22(6) and 22(7) of the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, and raised the size limit from INR 25,000 crore on 9 April 2025. An FPI that stays over a limit without disclosing has its registration rendered invalid and 180 days to sell.Tue, 14 Jul 2026 00:00:00 GMTAdv. Adithya Karthik KCapital Marketscapital-marketstransaction-advisoryhttps://juriseagle.com/insights/inheriting-property-in-india-from-abroadhttps://juriseagle.com/insights/inheriting-property-in-india-from-abroadUnder section 6(5) of the Foreign Exchange Management Act, 1999 (FEMA), rule 24(c) of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and the Reserve Bank of India's (RBI) Master Direction on immovable property, a non-resident Indian (NRI) or overseas citizen of India (OCI) may inherit any immovable property in India, agricultural land included. The RBI's Master Direction on Remittance of Assets lets an authorised dealer bank remit inherited assets and their sale proceeds abroad up to USD 1 million a financial year. Whether the heir also needs probate or a succession certificate turns on the asset and, for a will, on section 213 of the Indian Succession Act, 1925, which Parliament omitted by an Act that received assent on 20 December 2025.Tue, 07 Jul 2026 00:00:00 GMTAdv. Harsha Swaroop PProperty and successionrera-and-real-estatetransaction-advisoryhttps://juriseagle.com/insights/sme-ipo-operating-profit-gatehttps://juriseagle.com/insights/sme-ipo-operating-profit-gateSince 4 March 2025 an SME issuer cannot file a draft offer document unless it has earned operating profit of INR 1 crore from operations in two of the last three financial years. That single number, written into regulation 229 of the SEBI (ICDR) Regulations, 2018, moved the IPO conversation out of the merchant banker's office and back into the finance function, because it is an accounting test before it is a capital markets test.Mon, 27 Apr 2026 00:00:00 GMTAdv. Adithya Karthik KCapital Marketscapital-marketstransaction-advisoryhttps://juriseagle.com/insights/oci-cardholder-rights-property-and-work-in-indiahttps://juriseagle.com/insights/oci-cardholder-rights-property-and-work-in-indiaAn Overseas Citizen of India (OCI) cardholder is a foreign national, and the Ministry of Home Affairs (MHA) notification S.O. 1050(E) of 4 March 2021, made under section 7B of the Citizenship Act, 1955, gives the cardholder a lifelong multiple-entry visa, parity with a Non-Resident Indian (NRI) on buying and selling immovable property other than agricultural land, a farm house or plantation property, and the rights of a foreigner in every other economic, financial and educational field. Four heads of activity need special permission, and the registration can be cancelled under section 7D.Mon, 13 Apr 2026 00:00:00 GMTAdv. Adithya Karthik KProperty and successiontransaction-advisoryrera-and-real-estatecivil-disputeshttps://juriseagle.com/insights/investing-into-india-through-mauritius-or-singaporehttps://juriseagle.com/insights/investing-into-india-through-mauritius-or-singaporeUnder the India-Mauritius and India-Singapore double taxation avoidance agreements (DTAAs) as amended in 2016, gains on Indian shares acquired on or after 1 April 2017 may be taxed in India, while shares acquired before that date stay taxable only in the investor's State of residence, subject in Singapore to a limitation of benefits clause. The 50 per cent concession for the transition period ended on 31 March 2019. Two further tests sit over both treaties: the General Anti-Avoidance Rule (GAAR) in Chapter XI of the Income-tax Act, 2025, which Section 159(6) applies even where it is not beneficial to the assessee, and a principal purpose test in a 2024 protocol to the Mauritius treaty, whose notification and entry into force we have not confirmed from an official source. The Supreme Court's judgment of 15 January 2026 in Tiger Global holds that a tax residency certificate does not by itself settle the question.Fri, 10 Apr 2026 00:00:00 GMTAdv. Adithya Karthik KTaxtaxation-and-fiscaltransaction-advisorycapital-marketshttps://juriseagle.com/insights/dutch-holding-companies-mfn-clause-nestle-notificationhttps://juriseagle.com/insights/dutch-holding-companies-mfn-clause-nestle-notificationOn 19 October 2023 the Supreme Court of India held, in Assessing Officer (International Taxation) v. Nestle SA, that a most-favoured-nation (MFN) clause in a protocol to an Indian double taxation avoidance agreement (DTAA) does not operate by itself: the better rate given to a later treaty partner reaches residents of the first country only when the Central Government notifies it under section 90 of the Income-tax Act, 1961, and the later partner must have belonged to the Organisation for Economic Co-operation and Development (OECD) when its treaty with India was entered into. For a Dutch holding company receiving dividends from India, the notified rate under the India-Netherlands DTAA therefore stays at 10 per cent, not the 5 per cent the Dutch assessees claimed. Section 159(1) of the Income-tax Act, 2025 keeps the notification language, and the Department of Economic Affairs lists the India-Netherlands bilateral investment treaty (BIT) as terminated on 1 December 2016.Wed, 08 Apr 2026 00:00:00 GMTAdv. Harsha Swaroop PTradetransaction-advisoryboardroom-and-corporatehttps://juriseagle.com/insights/india-efta-investment-objective-promotion-not-protectionhttps://juriseagle.com/insights/india-efta-investment-objective-promotion-not-protectionThe Trade and Economic Partnership Agreement (TEPA) between India and the four European Free Trade Association (EFTA) States, Iceland, Liechtenstein, Norway and Switzerland, was signed on 10 March 2024 and entered into force on 1 October 2025. Its Chapter 7 sets a shared objective that the EFTA States aim to raise foreign direct investment (FDI) in India by 100 billion United States dollars (USD) over fifteen years and to facilitate one million direct jobs, but it binds the EFTA States only to promote that investment, bars dispute settlement under the agreement, and lets India, after a long consultation ladder, rebalance goods concessions. It gives an investor no protection of its own, and India's bilateral investment treaty (BIT) with Switzerland was terminated in 2017.Mon, 20 Oct 2025 00:00:00 GMTDr. Vijay MishraManufacturing and incentivestransaction-advisorycontracts-and-procurementhttps://juriseagle.com/insights/india-uae-bit-protection-for-a-uae-investorhttps://juriseagle.com/insights/india-uae-bit-protection-for-a-uae-investorThe India-United Arab Emirates (UAE) Bilateral Investment Treaty (BIT), signed at Abu Dhabi on 13 February 2024 and in force from 31 August 2024, protects a UAE investor's enterprise-based investment in India against denial of justice, fundamental breach of due process, targeted discrimination, manifestly abusive treatment and uncompensated expropriation. It has no fair and equitable treatment clause, and it excludes taxation, procurement and municipal measures. A claimant must pursue local remedies first, and the text deems that done after three years. The India-UAE Comprehensive Economic Partnership Agreement (CEPA) in force from 1 May 2022 is a trade agreement and gives an investor no claim.Mon, 23 Dec 2024 00:00:00 GMTAdv. Adithya Karthik KTradetransaction-advisorycivil-disputeshttps://juriseagle.com/insights/power-of-attorney-signed-abroad-for-a-salehttps://juriseagle.com/insights/power-of-attorney-signed-abroad-for-a-saleA non-resident Indian (NRI) who signs a power of attorney abroad has two routes to a document Indian authorities will take: signature before an Indian consular officer, or signature before a foreign notary followed by an apostille under the Hague Convention of 1961. Either way the instrument is stamped in Karnataka within three months of first reaching the State, under section 18 of the Karnataka Stamp Act, 1957, and a general power of attorney (GPA) does not itself sell a flat: the Supreme Court has held that a transfer needs a registered deed of conveyance, which the attorney can sign for the owner.Mon, 09 Dec 2024 00:00:00 GMTAdv. Adithya Karthik KReal estate and RERArera-and-real-estatetransaction-advisoryhttps://juriseagle.com/insights/india-singapore-ceca-investment-chapter-protection-for-a-singapore-investorhttps://juriseagle.com/insights/india-singapore-ceca-investment-chapter-protection-for-a-singapore-investorThe investment chapter of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA), signed at New Delhi on 29 June 2005 and in force from 1 August 2005, gives a Singapore investor in India national treatment, protection against expropriation without prompt, adequate and effective compensation, free transfer of returns, and a right to take most disputes to arbitration after six months of consultations. It has no fair and equitable treatment article, national treatment on entry applies only in the sectors India scheduled, and a national treatment breach cannot be arbitrated. India's termination of its bilateral investment treaties from 2016 did not name this agreement: the Department of Economic Affairs (DEA) register lists no Singapore treaty at all, and no official notice terminating or amending Chapter 6 has been published.Mon, 11 Nov 2024 00:00:00 GMTAdv. Adithya Karthik KTradetransaction-advisorycontracts-and-procurementhttps://juriseagle.com/insights/put-option-against-a-residenthttps://juriseagle.com/insights/put-option-against-a-residentA put option given by an Indian promoter to a foreign fund is enforceable in India, and has been since 2013, but it survives three separate tests rather than one. Securities law asks whether the option is a lawful contract at all. Exchange control asks when the investor may exit and at what price, and its answer is that no exit price may be assured at the outset. Company law asks whether the restriction binds anyone beyond the two parties who signed it. An option drafted against one of the three and silent on the others is the one that fails.Mon, 28 Oct 2024 00:00:00 GMTAdv. Adithya Karthik KPrivate Equity & Fundstransaction-advisoryboardroom-and-corporatecapital-markets2024 Juris Eagle. This website is intended solely for informational purposes and does not constitute solicitation or advertisement under applicable Bar Council regulations. The transmission or receipt of information through this platform does not create an advocate-client relationship. Legal advice is rendered only upon formal written engagement with the firm.