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Corporate Amicus: July 2013

Land Acquisition Bill, 2011 has been analyzed comparatively with the Land Acquisition Act, 1894, in the article covered in this July issue of Corporate Amicus. India has further liberalized its FDI Policy in respect of ten specified sectors including the hitherto closed sector relating to defence. Securities laws have been amended by way of an ordinance and unlisted firms involved in collective investment schemes have been brought under the purview of SEBI. Reserve Bank of India has enhanced the time period for submission of specified forms to the Approving Authority by the exporter undertaking project exports and service contracts abroad. Under Ratio decidendi, this issue covers a recent Supreme Court of India Order dealing with the issue of enforceability of foreign arbitration awards in India in the backdrop of public policy and appellate jurisdiction. In another case, the Supreme Court holds that there is implied exclusion of jurisdiction of other courts when the agreement specifically makes provision that the same be subject to the jurisdiction of the courts at a particular place.

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