• DPIIT vide its Circular no. DPIIT file no. 5(6)/2019 dated February 25, 2020, has issued clarification on whether sourcing of goods from units located in Special Economic Zone (SEZ) would qualify as sourcing from India or not, as per FDI policy. In response, DPIIT has clarified that as per extant FDI policy, in respect to proposals involving foreign investment beyond 51% sourcing of 30% of the value of goods procured, will be done from India.
  • As regards, sourcing of goods from units located in SEZs in India, it may be clarified that sourcing of goods from such units would qualify as sourcing from India for the purpose of 30% mandatory sourcing from India for proposals involving FDI beyond 51% subject to Special Economic Zones Act, 2005 (as amended from time to time) and other applicable laws/rules/regulations.
  • It is further clarified that goods which are proposed to be sourced by an SBRT entity from such units must be manufactured in India.

https://dipp.gov.in/sites/default/files/Revised_Clarification_SBRT_27February2020.pdf

Ministry of Corporate Affairs vide circular no. 06/2020 dated 4th March 2020 has issued LLP Settlement Scheme (LLP Amnesty Scheme) by allowing a one time condonation of delay in filing statutorily required documents with the Registrar

  • The scheme – LLP Amnesty Scheme will come into force on March 16, 2020and shall remain in operation till June 13, 2020. During this period there would beone time condonation of delay in filing statutorily required documents with the Registrar of Companies.
  • The scheme is available to all LLPs, which has defaulted in filing of Form-3, Form-4, Form-8 and Form-11, which were due to file till 30th October 2019.
  • The scheme is available to all LLPs, which has defaulted in filing of Form-3, Form-4, Form-8 and Form-11, which were due to file till 30th October 2019.
  • All the LLPs which have made the default good from 16th March 2020 to 13th June 2020 shall be provided immunity from the prosecution process by ROC for default committed in filing of the said forms. Immunity shall be provided only for Form-3, Form-4, Form-8 and Form-11, any other default or non-compliance shall remain subject to the legal consequences under the LLP Act.

http://www.mca.gov.in/Ministry/pdf/GeneralCircular06_04032020.pdf

The Department for Promotion of Industry and Internal Trade vide Press Note no. 1 (2020 series) [DPIIT file no. 5(1)/2020-FDI Policy], dated 21st February 2020

  • DPIIT vide its Press Note no. 1 (2020 series) [DPIIT file no. 5(1)/2020-FDI Policy], dated 21st February 2020 has made amendment in the consolidated FDI Policy of 2017

https://dipp.gov.in/sites/default/files/pn1_2020.pdf

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