Mergers and acquisitions (M&A) deals picked up steam throughout Asia Pacific during the first half of 2021, in no small measure due to a rebound from the worst economic ravages of the COVID-19 pandemic through 2020. With vaccine rollouts continuing and border restrictions being gradually loosened, M&A lawyers can look forward to an upswing in work in 2022 and beyond.
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Thursday, 22 April 2021 16:19 Projects
Bengaluru based Prestige Estate has taken over a Mumbai housing project from the debt ridden Ariisto Developers resolving about INR 1650 crores of the total INR 2200 crores owed by Ariisto, as reported by The Times of India. The resolution plan as approved by the Committee of Creditors, is a hybrid plan where the stakeholders would be given upfront cash consideration of around INR 370 crores as well as a share of the commercial area of the project in the
Your sister will have to give a specific power of attorney
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I’m going through the sale of the property of our late father, who passed away in 2018. We have done the property’s mutation in the name of my mother, elder sister and myself (we are two siblings). My sister has moved to the UK, where she is working and residing. We have a buyer in India who has given an advance for the property and needs a power of attorney for the progress and to finalize the deal. I would appreciate your guidance on the same.
A family arrangement agreement is advisable
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Share Via flat in a housing society) in the name of my grandfather, who is deceased. His wife (my grandmother), son (my father) and elder daughter (my elder aunt) are also dead. My uncle, my younger aunt and my mother are the successors of this property. We have mutually and amicably decided in the family that the said property will be transferred in my name. My younger aunt has decided not to take any share. My mother and I and my uncle are the two parties left. Between us, we have mutually agreed that I would pay 50% of the property cost to my uncle when it is transferred to my name. Please guide me regarding the procedure that needs to be followed so that the transfer takes place in the shortest time possible. How can I save unnecessary costs (if legally possible) as the matter is undisputed?
Doubling tax audit limit to boost ease of doing biz
February 02, 2021
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The government has changed the definition of small companies by increasing their thresholds for paid-up capital to ₹2 crore from ₹50 lakh and the turnover limit to ₹20 crore from ₹2 crore. The FM said this will benefit over over two lakh companies in easing their compliance requirements.
Bhushan Parekh, Director, SME Solutions, said doubling the tax audit limit to ₹10 crore will improve ease of doing business for micro and small enterprises. This will also boost digital payments.
The four times increase in the paid-up capital threshold of small companies to ₹2 crore and turnover by ten times to ₹20 crore will ease their compliance and procedural burden, he added.