Adani Energy completes acquisition of Essar's Mahan-Sipat Transmission assets (See 'Corp Brief') Arbitration - Since settlement has not worked out Court decided to refer matter to arbitration : HC (See 'Legal Desk') Power Finance Corporation announces Highest Annual Profit (See 'Corp Brief') SEBI Act - Considering receipt of settlement amount by SEBI and fulfilment of non-monetary term of settlement, adjudication proceedings initiated against Applicant can be disposed of : SEBI (See 'Legal Desk') PMLA Act -Without discussion as to how property is involved in money laundering conclusions recorded by Adjudicating Authority cannot sustain : Tribunal (See 'Legal Desk') Mines Ministry organizes Workshop on Offshore Mining (See 'Corp Brief') SAFEMA - Appellant have furnished evidence which show satisfactorily that they took all reasonable steps to realise export proceeds : Tribunal (See 'Legal Desk') Companies Act - Winding up petition can be dismissed when contentions raised by parties constitute triable issues as Company Court cannot enter into adjudication of disputed facts of amount due and payable : HC (See 'Legal Desk') NHAI organises Workshop on implementation of Insurance Surety Bonds (See 'Corp Brief') Competition Act - In absence of any apparent anti-competitive conduct, decision of purchase or sale of product and quantity thereof is driven by commercial considerations of market players : CCI (See 'Legal Desk') Slum Rehabilitation Act - Preferential right to owner is available only when someone other than owner is being preferred and owner has never before been given or availed of right to develop : HC (See 'Legal Desk') CPC - Application can be dismissed as Intervener has already initiated its own remedy by way of independent Execution Petition : HC (See 'Legal Desk') Principal Scientific Adviser chairs meeting to discuss Biomass Cultivation (See 'Corp Brief') SEBI Act - Appellant has not shown sufficient cause for condonation of delay in filing appeal : SAT (See 'Legal Desk') PMLA - When questions relating to legality of arrest is under consideration, more holistic and libertarian view is to release Chief Minister of Delhi on interim bail for Lok Sabha General Elections : SC (See 'Legal Desk') Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 - Order for forfeiture of properties is rightly made as property is occupied through lllegal earning : Tribunal (See 'Legal Desk') India Pavilion at World Hydrogen Summit showcases Green Hydrogen Mission (See 'Corp Brief') Arbitration Act - As petitioner is not notified as 'financial institution' or 'bank' under RDB Act, there is no bar on parallel proceedings to co-exist under A&C Act as well as SARFAESI Act : HC (See 'Legal Desk') Cr.P.C. - Once order issuing process has been set aside, then applicant has no right to file application u/s 482 of Cr.P.C. for quashment of complaint case : HC (See 'Legal Desk') Competition Act - WordPress.org is justified in taking appropriate action against any developer found non-compliant with prescribed standards and regulations : CCI (See 'Legal Desk')

Print

India, Luxembourg hold first summit in 20 years, ink 3 pacts to push investment ties

Published: Nov 20, 2020

By TIOLCORPLAWS News Service

NEW DELHI, NOV 20, 2020: The first ever meeting between the leaders of India and Luxembourg in 20 years ended with three new bilateral agreements signed between the two nations to push their business and investment partnership, even as both reaffirmed the need to finalise an India-EU FTA.

Luxembourg Prime Minister Xavier Bettel greeted PM Mr Narendra Modi as "Hello my friend" after welcoming him with folded hands.

Mr Modi emphasised that the shared belief in the ideals of democracy, rule of law and freedom is the strength of the India-Luxembourg partnership.

He also welcomed Luxembourg's decision to join the International Solar Alliance and urged Bettel to join the Coalition for Disaster Resilient Infrastructure.

“There is great potential to scale up the economic exchanges between India and Luxembourg”, Mr Modi said. “Currently, we have good cooperation in areas like steel, financial technology, digital domain - but there is immense potential to take it further”.

The meeting focused on the financial sector, fin-tech, green financing, space and digital cooperation and research ties.

The three agreements that have been signed are:

Luxembourg Stock Exchange with State Bank of India (SBI)

Luxembourg Stock Exchange with the India International Stock Exchange (INX)

LuxInnovation and Invest India

The agreements with the Luxembourg Stock Exchange provide for cooperation in the financial services industry. It will enable the maintenance of security markets in both countries with a focus on ESG (environmental, social and governance) and green finance in the local market. The agreement with LuxInnovation will support and develop mutual business cooperation between the companies of the two nations and facilitate inbound FDI.

“Luxembourg Stock Exchange and funds based out of Luxembourg are the third largest investors in India. Foreign portfolio investments from Luxembourg total more than Rs. 3 lakh crore. It is the largest after the U.S. and Mauritius”, said Ministry of External Affairs Joint Secretary (Europe West) Sandeep Chakravorty.

India also appointed a trade commissioner to the EU and the high-level mechanism to resume trade talks and prepare for the next round.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
taxindiaonline
A Taxongo Website. Copyright © 2016-2022 tiolcorplaws.com All rights reserved.