Impact of India Budget 2016 on Private Equity and M&A

 

Wednesday, March 2, 2016

Session I: 8:30 AM - 10:30 AM (IST)

Session II: 7:00 PM - 9:00 PM (IST)

 

MUMBAI – BKC AUDITORIUM, NISHITH DESAI ASSOCIATES, 2ND FLOOR, 3, NORTH AVENUE, MAKER MAXITY, BANDRA-KURLA COMPLEX, MUMBAI – 400 051, INDIA

INTRODUCTION

 

The Modi Government is all set to announce India’s Union Budget 2016 on February 29. In an unpredictable global economy where the Indian economy has shown resilience, all eyes are set on the Budget 2016 for bringing about radical and positive reforms to boost foreign investment and create a business friendly climate in India. In 2015, the Indian economy saw an average growth of about 7.5% making it one of the fastest growing economies in 2015. In fact, OECD has also pegged India’s growth rate at a healthy 7.4% for the next financial year in a report released recently.

In the past year, there have been several regulatory relaxations and liberalizations in the FDI policy, exchange control norms etc. and it is hoped that this forward looking outlook continues. The Union’s growth focused initiatives - StartUp India’ and ‘Make in India’ were exciting enterprises that garnered investor traction and contributed to the India growth story. Hoping to be consistent with this momentum and unaffected by global headwinds, Budget 2016 comes with high expectations.

On the cross border tax front, global investors and MNCs expect greater clarity on long standing pain points such as implementation of GAAR, attribution rules for offshore transfers, extension of minimum alternate tax exemptions to pre-2015 Budget period, tax treaty entitlement, withholding tax for dividends and other reforms. Implementation of the BEPS Action Plan in India has been high on India’s tax policy agenda this year. It will be interesting to see whether any of the recommendations are executed in Budget 2016, and if a balance between tax certainty and transparency is indeed maintained. In addition, in light of recommendations made by several Government appointed expert committees, developments are also expected for simplification of tax administration, promoting tax incentives for startups and clarity on fund taxation issues. Implementation of GST and streamlining corporate tax rates amongst others will be seen as key items to promote India as a global production hub, in line with the ‘Make in India’ programme.

Join us for an interactive Webinar on Wednesday, March 2, 2016 (India time) for insights on India’s 2016 Budget. We will be sharing our detailed Hotline on the 2016 Budget prior the Webinar.

Speakers

NISHITH DESAI

Founder & Managing Partner, Nishith Desai Associates

Nishith Desai is the founder of the research-based strategy driven international law firm, Nishith Desai Associates with offices in Mumbai, Silicon Valley, Bangalore, Singapore, Mumbai – BKC, New Delhi and Munich and New York.

Nishith himself is a renowned corporate and international tax lawyer and researcher, published author and lecturer in leading academic institutions around the world. Soon after India opened up its economy to the outside world in 1991, he established the first five India Focused funds and pioneered the roots of asset management industry in India and the firm has now worked for over 900 funds across all classes of asset. He as the core member of Securities and Exchange Board of India’s committee, helped draft Venture Capital Fund (including Foreign Venture Fund) Regulations and Employee Stock Options Regulations.

In the last two and a half decades, the firm has worked on some of the leading M&A and Private Equity deals in and out of India. The details of some of the M&A and Private Equity deals that the firm has worked on can be accessed here.

RAJESH SIMHAN

Partner – International Tax Practice, Nishith Desai Associates

Rajesh Simhan heads the international tax practice at the research-based international law firm, Nishith Desai Associates. He has graduated from the National Law School of India University, Bangalore. He has also done his LL.M in Taxation from the Georgetown University Law Center, Washington D.C.

Rajesh primarily advises clients on complex cross-border tax and corporate structuring transactions. He also has extensive tax litigation experience and has advised / represented clients at various levels, including the High Court and Supreme Court of India. He has also acted and advised on several cross-border mergers and acquisitions and has significant experience on private equity investments. Prior to joining Nishith Desai Associates, he has also extensive experience working with a Big 4 accounting firm. He is often quoted in leading international publications and is also a regular speaker at various conferences, both in India and abroad.

NISHCHAL JOSHIPURA

Partner - M&A & Private Equity, Nishith Desai Associates

Nishchal Joshipura is Partner of Mergers & Acquisitions and Private Equity Practice at Nishith Desai Associates. He is also the Partner in charge of Fund Formation practice at Nishith Desai Associates. He is a Lawyer, Chartered Accountant and MBA.

He has led several high profile M&A and Private Equity deals and set up multiple offshore and domestic India focussed funds. He specializes in legal and tax structuring of complex cross-border transactions. He also advises major MNCs on Corporate & Securities laws, Transfer Pricing, International Taxation, Globalization, Structuring of Inbound/ Outbound Investments, Taxation of E-Commerce and Exchange Control Laws.

He has been highly “Highly Recommended” by various legal directories for legal and tax advice on M&A, Private Equity and Investment Funds. He has recently been nominated as a “Young Achiever” at the Legal Era Awards 2015 based on industry research, reviews, rating and surveys conducted by Legal Era.

MANSI SETH

Head - US Office, Nishith Desai Associates

Mansi Seth heads the International Tax and Funds practice at the US office of Nishith Desai Associates. She has advised clients with respect to PE/VC investments and M&A transactions. She has also advised a number of India-focused fund clients on fund formation and carried interest structuring. Mansi has completed her Masters of Laws degree in Taxation at Georgetown University in Washington DC. She has presented in a number of conferences around the world.

Flow of the Session

Session I:

8:30 AM TO 9:00 AM (IST):

Registration

9:00 AM TO 10:00 AM (IST):

Panel Discussion

10:00 AM TO 10:30 AM (IST):

Q & A

Session II:

7:00 PM TO 7:30 PM (IST):

Registration

7:30 PM TO 8:30 PM (IST):

Panel Discussion

8:30 PM TO 9:00 PM (IST):

Q & A