 "supreme court, high court, court, laws, rules, tribunal")
Layering restrictions, stricter compliance for companies
As an off-shoot of the drive against the abuse of shell companies, the government decided against relaxations on layering investment companies and subsidiaries. This is despite demands by corporate India and recommendations of a government-appointed committee. A government notification clarified that a company could not have more than two layers of subsidiaries or a maximum of three layers, of which one is wholly-owned.
Legal experts say many companies will have to restructure to fall in line with this amendment in the company law.
Strengthening the arbitration landscape
The second time in two years
