Updates – Bridgehead Law Partners

Updates

FEMA 2024 Compounding Rules Demystified: Streamlined Updates and Clarity

The Ministry of Finance on September 12, 2024 introduced the Foreign Exchange (Compounding Proceedings) Rules, 2024 (“2024 Rules”) to address the compounding of offenses under the Foreign Exchange Management Act, 1999 (“FEMA”). These new rules replace the previous Foreign Exchange (Compounding Proceedings) Rules, 2000 (“2000 Rules”), which provided a framework to voluntarily resolve certain FEMA […]

Blogs, Updates

New SEBI Rules for SME IPOs: Enhancing Transparency and Safeguarding Investors

The Securities and Exchange Board of India (SEBI), in its board meeting on December 18, 2024, strengthened the regulatory framework for Small and Medium Enterprises (SME) Initial Public Offerings (IPOs). This step has been taken to safeguard investors’ interests, addressing concerns over companies misusing IPO proceeds by diverting funds to shell entities and manipulating financials […]

Updates

Maharashtra Stamp Duty Hike 2024: Key Amendments

On October 14, 2024, the Revenue and Forests Department of Maharashtra introduced significant reforms to the state’s stamp duty structure by releasing Maharashtra Ordinance No. XII of 2024. These amendments to the Maharashtra Stamp Act, 1958, will impact a wide range of documents leading to increased costs for individuals and businesses alike. The Ordinance has […]

Blogs, Updates

Amendment to Section 43B of Income Tax Act, 1961: How it Benefits Micro and Small Enterprises

The Amendment Through a circular dated January 23, 2024, the Finance Ministry of India has amended Section 43B of the Income Tax Act, 1961 (“IT Act”). Section 43B of IT Act lists certain deductions which can be claimed only upon payment. The amendment has inserted a new sub-clause (h) which states that payments owed […]

Updates

Union Cabinet Liberalizes FDI Policy to Boost Indian Space Sector

Blogs, Updates

The EU AI Act: Shaping the Future of Artificial Intelligence

The EU AI Act, a groundbreaking development in the regulation of artificial intelligence, recently achieved provisional agreement, marking a pivotal moment in the governance of this transformative technology. Going beyond mere regulation, this comprehensive legal framework is poised to set international standards for AI development and deployment. This article explores the key aspects of the […]

Updates

Regulatory Updates: Key Amendments to Companies Act and LLP Rules

The Ministry of Corporate Affairs has amended certain rules under the Companies Act, 2013 and the Limited Liability Partnership Act, 2009. A brief description of the changes are set out below: Every Company to have a designated person for providing information to the ROC in relation to beneficial interest in shares of the company […]

Blogs, Updates

DIGITAL PERSONAL DATA PROTECTION ACT, 2023: A FAQ

The Digital Personal Data Protection Act, 2023 (“DPDP Act”) is a new law in India that regulates the processing of personal data. This FAQ provides a brief overview of the DPDP Act, including its key definitions, the rights and duties of data principals and data fiduciaries, and the penalties for violating the Act. What […]

Category: Updates