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Higher taxes, more investment opportunities: Lawyers react to India’s budget
By  NIMITT DIXIT

India’s annual financial budget for 2024-25 was dripping with change. Presented for the ninth time by Finance Minister Nirmala Sitharaman, the announcements included better rules and taxes for foreign investors, an increase in capital gains tax, new employment generators, a focus on the agriculture supply chain, revival of effective debt recovery systems, and a reduction in customs to promote the local manufacturing sector.

In line with previous budgets, the government has announced a significant increase in capital expenditure, particularly focused on infrastructure building, both physical and digital. This is expected to rejuvenate economic growth and foreign investment in the sector and increase opportunities for project financing.


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Other News
 

CLOSING SOON: ALB India Top Corporate/M&A Boutique Firms 2024
India's Corporate/M&A sector is witnessing the emergence of boutique firms, offering specialised expertise and tailored solutions at competitive fees. Submissions are welcome from firms with 10 or fewer partners using the attached form. 
DOWNLOAD FORM HERE
Deadline: August 5 2024


LAST CALL: ALB Asia 40 Under 40 2024
ALB Asia is seeking submissions for its 40 Under 40 list, featuring accomplished lawyers in Asia under 40. Mainland China and Australia/New Zealand submissions not accepted.
DOWNLOAD FORM HERE
Deadline: July 26, 2024


Nagashima disputes veteran joins Quinn Emanuel as partner in Tokyo
U.S. law firm Quinn Emanuel Urquhart & Sullivan has hired cross-border dispute resolution expert Hisaya Kimura as a partner in Tokyo. Kimura was most recently a senior counsel at Nagashima Ohno & Tsunematsu.

LAST CALL: ALB North Asia's Top 15 Litigators 2024
ALB North Asia is now accepting submissions for the North Asia Top 15 Litigators 2024.
DOWNLOAD FORM HERE
Deadline: July 26, 2024


S&C, Freshies guide $905 mln U.S.-Japan tire deal
U.S. law firm Sullivan & Cromwell is advising Goodyear Tire & Rubber on the planned sale of its Off-the-Road equipment tire business to Japan's Yokohama Rubber, which is being represented by Freshfields Bruckhaus Deringer.

STB, S&C, Freshies act on $8 bln cross-border AC assets deal
Sullivan & Cromwell has advised German engineering group Robert Bosch on its $8 billion agreement to acquire the residential ventilation businesses of Johnson Controls and Japanese group Hitachi.

ALB GC Conversations: Edward Tung, Head of Legal and Compliance, ORI Capital
Edward Tung is head of legal and compliance at ORI Capital, is a venture capital fund focused on early-stage investments in pioneering biotech companies globally. He joined the company in 2019 after working at Hong Kong law firms Deacons and Charltons Law and assumed his current role in 2022. Tung, who possesses a PhD in infectious diseases, was named earlier this year as one of the ALB Asia Top 15 Chief Compliance Officers. You can hear him speak on Sept. 12 at the ALB Hong Kong In-house Legal Summit 2024 (register here).

EDITOR'S NOTE: If you're a general counsel based in Asia who'd like to be featured in this series, please email ranajit.dam@tr.com.

A Conversation with Lucas Nicolet-Serra, one of 2024 ALB Singapore Asia Rising Stars [Brought to you by K&L Gates Straits Law LLC] 
Lucas Nicolet-Serra, counsel at K&L Gates Straits Law, has been recognised as one of the 2024 Singapore Asia Rising Stars by Asian Legal Business. He focuses on staying up-to-date with legal developments in fintech and health tech, showcasing dedication to achieving favourable outcomes for clients. His deep understanding in blockchain projects and digital assets positions him well to address the legal challenges facing companies entering the Web 3.0 and metaverse space.

A&G, A&O Shearman advise on $7.8 bln SG semiconductor JV
Singapore Big Four law firm Allen & Gledhill is advising Vanguard International Semiconductor Corporation (VIS) on its proposed $7.8 billion joint venture with NXP Semiconductors, which is being represented by A&O Shearman.

A&O Shearman advises Allianz on $1.6 bln Singapore insurance deal
A&O Shearman has advised German insurer Allianz on the acquisition of a 51 percent stake in Singapore's Income Insurance for S$2.2 billion ($1.6 billion), the latest major deal in Singapore’s buzzing insurance sector.

A conversation with Alan Tsui, one ALB Asia's 2024 Super 50 Dispute Lawyers [Brought to you by JunHe Law Offices]
Alan Tsui Ming Lun, a partner at Jun He Law Offices in Hong Kong, has been recognised as one of the top dispute lawyers in Asia for 2024 by Asian Legal Business. With extensive experience in dispute resolution, bankruptcy, and employment law, Tsui's expertise and dedication have set him apart in the legal industry. His advice to aspiring lawyers is to prioritize building a strong foundation of legal knowledge, honing communication and advocacy skills, and maintaining high ethical standards.

Links builds Greater China cap markets offering with CC, Sidley partners
Magic Circle law firm Linklaters has bolstered its Greater China team with the hire of a trio of lawyers from Clifford Chance, led by partner Christine Xu, and partner Oliver Zhong from Sidley Austin.

A conversation with Frederick Hui, one ALB Asia's 2024 Super 50 Dispute Lawyers [Brought to you by Zhong Lun Law Office]
Asian Legal Business speaks with Frederick Hui, the co-managing partner at Zhong Lun Law Firm and was recognized as one of ALB Asia's Top Dispute Lawyers for 2024. With 19 years of experience in litigation, arbitration, and regulatory law, he is well-regarded for providing exceptional client service and has a proven track record of working with high-profile clients in Hong Kong.

Withers bolsters Asia real estate offering with lateral, promotion
International law firm Withers has bolstered its real estate practice in Asia with the addition of a two-lawyer team in Singapore from Shook Lin & Bok, led by partner Chau Hwei Lee, and the promotion of Akinari Nakano to partner in Tokyo.

A conversation with Nine Yards Chambers LLC, one of 2024 ALB Southeast Asia Law Awards finalists [Brought to you by Nineyards Chambers LLC] 
Nine Yards Chambers LLC has achieved notable recognition as a finalist at the 2024 ALB Southeast Asia Law Awards. Their success is attributed to a strong core team, emphasis on advocacy, and unique approach to nurturing young talent.

CLOSING SOON: 2024 South India Top 15 Law Firms
South India's economy is booming, driven by the tech sector and real estate. The South India Top 15 Law Firms ranking honours firms shaping this growth. Selection is based on industry knowledge, news analysis, and public data. Firms must be headquartered in or have a substantial presence in Bangalore, Hyderabad, Chennai, Visakhapatnam, Coimbatore, or Kerala to be considered.
DOWNLOAD FORM HERE
Deadline: August 9, 2024


Third Country Invoicing under FTAs - Has the JNCH mitigated the concerns of Trade and Industry? [Brought to you by Lakshmikumaran Sridharan attorneys]
This article discusses the impact of the recent Public Notice No. 55/2024 dated 24.06.2024 issued by the Commissioner of Customs, NS-III, JNCH, Nhava Sheva which prescribes guidelines for verification of Country-of-Origin Certificates (“COO”) issued under various Preferential Trade Agreements/Free Trade Agreements (“FTAs”) and involving third-country invoicing transactions. This Public Notice No. 55/2024 was issued superseding an earlier Public Notice No. 33/2024 dated 20.03.2024 on the same issue against which the industry at large had raised concerns.

SUBMISSIONS OPEN: 2024 South India Top Rising Lawyers
The South India Top 15 Lawyers ranking aims to showcase accomplished legal professionals. Nominees must be practicing law in specific locations and be under 40 years old as of October 1, 2024. Submissions are encouraged. Deadline for submissions is August 9, 2024. Please send submissions to bingqing.wang@thomsonreuters.com.
DOWNLOAD FORM HERE
Deadline: August 9, 2024



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ALB Asia 40 Under 40 2024
ALB Asia is seeking submissions for its 40 Under 40 list, featuring accomplished lawyers in Asia under 40. Mainland China and Australia/New Zealand submissions not accepted.
DOWNLOAD FORM HERE
Deadline: July 26, 2024


ALB North Asia's Top 15 Litigators 2024
ALB North Asia is now accepting submissions for the North Asia Top 15 Litigators 2024.
DOWNLOAD FORM HERE
Deadline: July 26, 2024


ALB India Top Corporate/M&A Boutique Firms 2024
India's Corporate/M&A sector is witnessing the emergence of boutique firms, offering specialised expertise and tailored solutions at competitive fees. Submissions are welcome from firms with 10 or fewer partners using the attached form. 
DOWNLOAD FORM HERE
Deadline: August 5 2024


ALB South India Top 15 Law Firms 2024
The South India Top 15 Law Firms ranking aims to recognize firms contributing to the thriving economy of South India. The selection process is based on industry knowledge, news analysis, and public data. Firms in Bangalore, Hyderabad, Chennai, Visakhapatnam, Coimbatore, or Kerala are eligible for consideration. Submission is encouraged but not mandatory.
DOWNLOAD FORM HERE
Deadline: August 9, 2024

As one of Japan’s Big Four law firms, Anderson Mori & Tomotsune has made it its mission to improve diversity and inclusion, or D&I, across the firm and Japan’s legal industry. 

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ALB Top 15 Chief Compliance Officers 2024
In response to the increasingly complex compliance landscape in Asia, chief compliance officers are assuming strategic leadership roles and pioneering innovative approaches to ensure compliance while bolstering organizational resilience. Their efforts are crucial in navigating the dynamic challenges of today's business environment.


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2023 ALB surveys and rankings
Click here to access the full list of surveys and rankings that are currently underway and open for submissions. 
             
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