India Budget 2019: Implications for International Community

TUESDAY, JULY 09, 2019

SESSION I: 9:00 AM - 10:30 AM (IST) / 11:30 AM – 01:00 PM (SGT)

SESSION II: 9:00 PM - 10:30 PM (IST) / 11:30 AM – 01:00 PM (EST)


The Indian Finance Minister (FM) presented the 1st Budget of the newly formed NDA 2.0 government for financial year (FY) 2019-20. While there were many expectations before the Budget to revive animal spirits in the economy, the Budget has presented a mixed bag. Key changes include:

  • Relaxation in investment norms in aviation, media, insurance, insurance intermediaries and single brand retail sectors;

  • Start up taxation – rationalisation measures

  • Incentives to Foreign Portfolio Investors;

  • Rationalisation of Non Banking Finance Companies norms;

  • Thrust to the International Financial Services Centre (IFSC);

  • Changes to Alternate Investment Funds - pass through taxation;

  • Buy-back tax on listed securities.

We cordially invite you to be a part of our webinar on July 9, 2019 where we will discuss the implications of the changes announced in the Budget 2019 and these recent developments.

Flow of the session


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

Panel Discussion

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



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

Panel Discussion

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




Leader – International Tax Practice, Nishith Desai Associates

Rajesh Simhan heads the international tax practice at Nishith Desai Associates. He 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.

Rajesh 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.


Leader – Private Equity and M&A, Nishith Desai Associates

Nishchal 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 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.


Leader – Investment Funds Practice, Nishith Desai Associates

Richie Sancheti leads the Funds Practice Group at Nishith Desai Associates and is based in Mumbai. With a strong background in funds, Richie advises on optimum structures for setting up onshore and offshore investment funds. He advises fund managers in connection with the formation, carry allocation program and governance of private funds.

Richie specializes in all aspects of the formation and operation of venture capital, private equity and hedge funds that are focused on investing in India. Richie is also a member of the firm’s international tax and private equity investment practice groups and advises clients on matters including private equity transactions.


Senior Member, International Tax Practice, Nishith Desai Associates

Ashish Sodhani is a senior member of the International Tax Practice at Nishith Desai Associates. Ashish focuses on cross border tax and corporate structuring transactions including tax litigation. He has been involved in issues relating to applicability of Minimum Alternate Tax on foreign investors before the High Court and has represented clients before various forum’s including Tribunals, various High Courts and Supreme Court of India in relation to disputes on international tax. He, regularly writes articles which are published in international leading publications.

Ashish holds a Bachelor’s degree in law from Government Law College, Mumbai.