Introduction

In our previous blog post (accessed here), we discussed the judgement of the Supreme Court (SC) in Sudesh Chhikara v. Ramti Devi & Anr[1] (Sudesh Chhikara), whichheld that a gift or transfer of property by a senior citizen may be declared void by a Maintenance Tribunal only if certain conditions as set…

In today’s highly competitive business landscape, a robust brand strategy is crucial for any organisation, especially large conglomerates that bear a family name. A well-defined brand strategy can not only establish a strong market presence, it can also mitigate potential conflicts, ensure consistency, and protect the brand’s legacy.…

Background

In recent years, the Indian government has made significant strides toward enhancing the operational framework of the International Financial Services Centre at Gujarat International Finance Tec-City (“GIFT-IFSC”). GIFT-IFSC was established with an aim to redirect all financial transactions conducted by residents in foreign financial centres to India. By virtue of RBI circular[1] titled…

Disposition of unliquidated assets has been a major challenge for some Alternative Investment Funds (“AIFs”). Most AIFs in the market today are close ended i.e., they have a fixed tenure, within which AIF managers are expected to fully exit the AIF’s portfolio investments. The recent data on AIFs, published by Securities Exchange Board of India…

In consonance with the steps taken by the Government of India to development of India’s maiden International Financial Services Centre (“IFSC”) situated at Gujarat International Finance Tec-City (“GIFT City”), the Reserve Bank of India (“RBI”) has allowed Indian individuals to remit to IFSC, City for permissible purposes under its Liberalised Remittance Scheme (“LRS”). This blog…

The following article was first published in the Mint newspaper on 11th July, 2024. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint.…

When entering into contracts, individuals rarely consider whether their contractual obligations would bind or impose liabilities on their heirs in the event of their demise. Therefore, upon the passing of the contracting party, it is, at times, not straightforward to ascertain whether the heirs are liable to honour the deceased’s obligations. The Supreme Court of…