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Tag results for 'India'
Disclosure of an Indian issuer’s potential FCPA violations: the implications for other Indian companies
Dr Reddy’s Laboratories Ltd (Dr Reddy’s), a large Indian pharmaceutical company, has American Depositary Receipts (ADRs) listed on the New York Stock Exchange and is an ‘issuer’ under the Foreign Corrupt Practices Act, 1977 (FCPA). In November 2020, Dr Reddy’s made a filing before the US Securities and Exchange Commission (SEC) stating that it had begun an investigation into an anonymous complaint alleging breaches of anti-corruption laws, specifically the FCPA.
Released on Oct 29, 2021
Released on Jun 28, 2021
Released on Jun 25, 2021
The Supreme Court of India has recently rendered its decision in Engineering Analysis Centre of Excellence v The Commission of Income Tax & Anr, finding that the amount paid by resident Indian end-users or distributors to non-resident computer software manufacturers or suppliers, as consideration for the resale or use of computer software, cannot be characterised as ‘royalty’ (that is, the use of copyright in the computer software) under Article 12 of the Tax Treaties.
Released on Jun 2, 2021