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INSURANCE
Insurance is a sector that has only recently
witnessed the winds of liberalization. The Insurance Regulatory and Development
Act, 1999 permitted private players to participate in the Insurance sector.
Life insurance is still the domain of the Life Insurance Corporation of
India, but a host of private players have emerged in the other arenas.
Currently, foreign participants are permitted to hold only up to 26 per
cent shareholding in an Indian joint venture. We adopt a complete hand
holding approach for our clients who are entering the insurance sector.
Our practice area in the Insurance segment
focuses on:
- Advising our clients on
the provisions of the specific laws, such as the Insurance Act, 1938,
the Insurance Regulatory and Development Act, 1999 and allied laws,
rules and regulations, including those relating to foreign exchange
regulations, consumer protection laws, to name a few
- Obtaining clearances for our clients
from the concerned regulatory authorities
- Rendering comprehensive advise right
from structuring of the investment in India to make it tax optimal,
to drafting of the agreements for our clients who are entering into
a joint venture agreement
- Advising our clients, in this sector
on taxation issues, our advise is limited not only to interpretation
of treaty laws, but we also render advise on compliance issues arising
under the domestic tax provisions, both direct, and indirect, including
service tax
- Drafting or vetting for our clients
various contractual agreements, in the context of various laws such
as the Indian Contract Act, 1861 keeping in view various crucial clauses
relating to good faith, indemnity, liability to name a few issues
- Advising on the applicability of stamp
duties
Our advice is a comprehensive blend of business
strategy, in-depth industry specific legal issues and global tax minimization.
Our Research Papers:
Other allied material:
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