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An Overview of Family Offices in India

  Family Offices, a wealth management entity created for asset protection, investment and succession planning vehicles tailored to the specific needs of high net worth individuals and family specific to the needs and preferences of the family to protect its legacy and wealth from generation to generation. A. Why to form a Family Office (FO):- a.      Ease of Collective Investment:- To allow family members to invest collectively with reduced investment costs and access to wide range of investment opportunities. Provided opportunities to young family members for exposure to ever evolving financial world and part of critical decision making process. b.      Tax Savings:- Been structured in a manner to get benefit under tax schemes and permissible to   deduct investment management fees and other administrative expenses that are generally non-deductible by individuals. c.         Ease of Co-ordination and Management with external advisors:- Enjoy shared services for tax, legal, acco
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The Online Gaming Intermediaries Regulations: Future Road Ahead

  On April 6 th , 2023, a new regulations for Online Gaming was ben introduced under section 87 of the Information Technology Act, 2000 ( hereinafter referred to as the “ IT Act ”)   by Ministry of Electronics and Information Technology ( hereinafter referred to as the “ MeITY ”) via amendment of The Informational Technology, 2021 (Intermediary Guidelines and Digital Media Ethics Code) (hereinafter   referred to as the “ Online Gaming Regulations ” ), which has significant impact on Online Gaming in India. This Gaming Regulations is a welcome step to clarify uncertainties and to reign certain activities such as betting and gambling which have plagued the online gaming sector. The online gaming sector is in its nascent stage in India and to curve its growth on innovative track, there are few additional checks and balances have been imposed via Online Gaming Regulations which includes but not limited to the introduction of Self-Regulatory Body (hereinafter referred to as the “ SRB ”) to

Is your Arbitration Agreement/Clause valid enough and enforceable?

  Today in high octane and complex business relationship runs on contractual relationship and at times the strain on such relationship results in disputes among the parties in commercial relationship which makes it difficult to continue together in business. Arbitration is an efficient and effective manner to resolve such disputes among the parties. Arbitration often try to preserve or protect the existing relationship amongst the parties, unlike court procedures where sometimes the final outcome can result in the relationship coming to an end between both parties. To protect their rights, the parties enter into agreements and include the arbitration agreement /clause as part of their commercial transactions. In recent few years, the enforceability of such agreements had been challenged on ground of no-payment of stamp duty or insufficient stamp duty. In 2021, in the matter   N.N. Global Mercantile Private Limited v. Indo Unique Flame Limited & Ors. [1]   (“ NN Mercantile Case

Unlockdown, COVID-19 & Opening of Business: Legal Risks & Considerations

With the initiation of “Unlockdown” for opening of business in India, to navigate the challenges brought   on by the rapid spread of COVID-19 (coronavirus) is now more complicated than ever as the companies are been forced to confront the way of doing business with the continuous spread of COVID-19 and to be more vigilante and preparation is requisite by the companies to address the business risks as they arise. COVID-19 has caused serious disruptions for every businesses, where some have had direct commercial impacts along with interruptions to supply chains, challenges in meeting contractual obligations, payment of commercial leases, whereas there are some universal impacts on each and every business- workplace health and safety obligations, travel restrictions, increased burden of data protection with the implement of work from home policy. As business risks, legal, regulatory and other commercial implications due to COVID-19 will continue and evolve in coming days with furth