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Perspectives from
practitioners.

Expert analysis on M&A, startup fundraising, FEMA, valuations, and the evolving regulatory landscape — written by the advisors who live this work every day.

Latest Insights
NRI / Tax / DTAA
Jun 202511 min read
TRC, DTAA & Mutual Fund Gains: When NRI Income Isn’t Taxed Anywhere
How a 2025 ITAT ruling lets NRIs in the UAE and Singapore pay genuinely zero tax on Indian mutual fund gains — and the TRC/Form 10F process to claim it.
NRI / Tax
Jun 20257 min read
How to Check Your Residential Status: NRI, RNOR, or Resident
A simple, example-driven walkthrough of the day-count tests — with an interactive checker so you can work out your own status step by step.
Corporate Law / Compliance
Jun 202511 min read
Mandatory Dematerialisation of Shares for Private Companies: Rule 9B Explained
Who is covered, the small company exemption, the 30 June 2025 deadline, PAS-6 filings, and why a 2025 NCLT ruling makes non-compliant share transfers void ab initio.
Corporate Law / Compliance
Jun 20259 min read
How to Obtain an ISIN: Choosing Between NSDL and CDSL
What an ISIN is, the RTA-led application process, realistic costs, and the practical factors — not theoretical ones — that should drive your choice between NSDL and CDSL.
Investor Guide
Jun 20259 min read
How to Dematerialise Your Physical Share Certificates: A Step-by-Step Guide
From confirming the company's ISIN to filling the DRF, submitting certificates, and the most common reasons the process gets delayed — a practical guide for investors.
Outsourcing / Fractional CFO
Jun 202510 min read
Back-Office Outsourcing: Accounting & Bookkeeping from India for US Businesses
What can realistically be outsourced, the tools that make it seamless, data security considerations, and how to structure an engagement that actually works.
NRI / US Tax
Jun 202512 min read
PFIC & FATCA: What US-Based NRIs Need to Know About Indian Investments
Why Indian mutual funds and ULIPs are PFICs for US tax purposes, the QEF/MTM elections that fix it, and the FBAR/FATCA/Form 8621 filings most NRIs miss.
Transaction Advisory
Jun 202512 min read
Due Diligence Red Flags: A Practical Checklist for Indian M&A and Investment Deals
Financial, legal, tax, and operational red flags every buyer and investor should look for — with specific notes for manufacturing and asset-heavy businesses, and how to resolve issues once found.
NRI / FEMA
Jun 202511 min read
NRI Investment in India: Repatriable vs Non-Repatriable Routes
NRE/FCNR vs NRO funds, the FDI route vs Schedule IV, and how the choice affects exit flexibility for NRIs investing in Indian startups, property, or family businesses.
NRI / Tax
Jun 202512 min read
Capital Gains Tax for NRIs: Selling Shares and Property in India
Post-2024 capital gains rates, the Section 195 TDS trap on full consideration, and how a Lower Deduction Certificate and DTAA relief can change the outcome.
NRI / Tax
Jun 202510 min read
Residential Status, RNOR & Tax Planning for NRIs Returning to India
How residential status is determined each year, why RNOR status is a valuable transition window, and how to plan foreign asset realisation around it.
Companies Act / FEMA / Tax
Jun 202513 min read
Buyback of Shares: Companies Act, FEMA & Income Tax Considerations
Section 68 procedural requirements, FEMA pricing for foreign shareholders, and the major October 2024 shift in buyback taxation — now treated as dividend in the shareholder's hands.
White Paper / FEMA-FDI
Jun 202515 min read
Foreign Direct Investment in India: Law, Process & Practical Guide
A practical guide to India's FDI regime — legal framework, entry routes, sectoral caps, FC-GPR/FC-TRS filings, common challenges, exit pricing, and a brief note on outbound investment (ODI).
Tax / Finance Act 2025
Jun 202510 min read
Finance Act 2025: New Valuation Rules for Share Transfers
FMV is now mandatory for all share transfers in unlisted companies. Here is what changed under Finance Act 2025 and what founders and investors must do to stay compliant.
Tax / Valuations
Jun 202512 min read
Valuation of Equity Shares: Issuance & Transfer under Finance Act 2025
Angel tax, Rule 11UA methods, DCF vs NAV, and the DPIIT startup exemption — a complete guide to equity share valuation for issuance and secondary transfers.
Tax / Valuations
Jun 202511 min read
Valuation of Preference Shares under Finance Act 2025
CCPS, OCPS, redeemable preference shares — how each is valued for issuance and transfer, and the FEMA overlay when non-residents are involved.
Transaction Advisory
Feb 20258 min read
5 Due Diligence Red Flags Every Acquirer Should Know
Most acquisitions fail not because the deal was bad, but because the diligence was incomplete. Here are the five issues we see most often — and how to spot them early.
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Fundraising
Jan 20256 min read
SAFE Notes in India: What Founders Get Wrong
SAFEs are increasingly common in Indian seed rounds — but they're often structured incorrectly for Indian law. Here's what to watch out for and how to get it right.
📊
Valuations
Jan 20257 min read
How to Value a Pre-Revenue Startup for an ESOP Grant
ESOP valuations for pre-revenue companies require a different approach than traditional DCF. We explain the methods, the regulatory requirements, and how to get a defensible number.
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FEMA / FDI
Dec 20249 min read
ODI in 2025: A Practical Guide for Indian Companies Going Global
Outbound Direct Investment rules have been updated significantly. If your Indian company is setting up an overseas subsidiary or JV, here's what the new framework means for you.
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Startups
Nov 20245 min read
Why Your Cap Table Is Your Most Important Legal Document
Most founders don't realise how much a messy cap table can complicate a future fundraise or acquisition. Get it right from day one — here's how.
⚙️
Tax
Oct 202410 min read
Tax-Efficient M&A Structuring: Slump Sale vs. Itemised Asset Transfer
The structure of your acquisition can make or break the economics. We walk through the tax implications of the two most common deal structures and when to choose each.

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