Photo of Jeeta Nayak

Partner in the General Corporate Practice at the Mumbai office of Cyril Amarchand Mangaldas. Jeeta specialises in public M&A and Private Equity transactions and has advised on various domestic as well as cross border transactions across industry lines including Healthcare, Infrastructure, Construction Development, Financial Services, Pharmaceuticals, Insurance, FMCG, Logistics and Energy. She can be reached at jeeta.nayak@cyrilshroff.com.

The Department for Promotion of Industry and Internal Trade (“DPIIT”) released a new standard operating procedure for processing foreign direct investment (“FDI”) proposals on August 17, 2023 (“New SOP”)[1]. It replaced the erstwhile standard operating procedure dated November 9, 2020 (“Erstwhile SOP”)[2], which covered the manner in which FDI proposals that required government approval under the Consolidated FDI Policy 2020 (“FDI Policy”) and the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, were being processed.Continue Reading New Norms For Processing FDI Proposals

Contract Enforcement Laws

The Ease of Doing Business rankings released annually by the World Bank currently ranks India at 163 in Enforcing Contracts.[1] The importance placed by the Modi Government on these, and India’s overall dismal performance has forced the government to take several measures, especially in the field of enforcement of contracts.

The Indian Contract Act, 1872 (Contract Act) and the Specific Relief Act, 1963 (Act) are the two primary legislations governing the enforcement of contracts between parties. While the Contract Act lays down the general principles governing contracts and levy of damages for breach thereof, it also provides for an exception of awarding specific relief in the form of specific performance of contracts.
Continue Reading Contract Enforcement – Ushering In an Era of Performance