Dr. SANJEEV GEMAWAT

India's Untapped Hydrocarbon Potential estimated to be 22 billion barrels 1. Introduction to Untapped Hydrocarbon Resources: India's lesser-known Category-II and III basins, such as Mahanadi, Andaman Sea, Bengal, and Kerala-Konkan, harbor an estimated 22 billion barrels of undiscovered hydrocarbon potential. 2. Global Exploration Trends and India's Position: Global energy companies are increasingly focusing on offshore, deepwater, and ultra-deepwater areas following major discoveries. Notably, Harbour Energy and Mubadala's significant finds in the North-Sumatra Basin have spotlighted the Andaman Sea as a key area for frontier exploration. This trend underscores the potential for similar discoveries in India's unexplored basins. 3. Industry Expert Insights: Rahul Chauhan, an upstream analyst at Commodity Insights, emphasised the scope for significant developments in India's hydrocarbon sector. He noted that ONGC and Oil India hold acreage in the Andaman waters under the Open Acreage Licensing Policy (OLAP) and have planned several significant projects. However, the participation of an international oil company with deepwater and ultra-deepwater exploration expertise is crucial for exploring these frontier regions. 4. Initiatives and Prospects: Petroleum Minister Hardeep Singh Puri recently discussed the scope of these basins at a conference organised by the Directorate General of Hydrocarbons. Currently, only 10% of India's sedimentary basin area is under exploration. Following the award of blocks under the OLAP rounds it is expected to increase to 16% by the end of 2024. 5. OALP Developments: Since its inception, the OLAP has led to the award of 144 blocks covering approximately 244,007 sq km. The recent ninth round of OLAP announced the offering of around 136,596 sq km across eight sedimentary basins. OLAP aims to attract more investments and enhance exploration activities in India's hydrocarbon sector. 6. Discovered Small Field Policy and Investments: The Discovered Small Field (DSF) policy, initiated in 2015, has garnered nearly $2 billion in investments and brought 29 new players into the field. DSF focuses on developing smaller hydrocarbon fields, contributing to the overall increase in domestic oil production capabilities. 7. Challenges and Regulatory Improvements: The Minister emphasised the need to reduce delays in the approval of field development plans, annual plans, and other regulatory permissions. As India's import dependency continues to rise, enhancing domestic oil production capabilities and streamlining regulatory processes are crucial for the country's energy security and economic growth. https://lnkd.in/esdWtS_c

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IndusLaw advised GAIL (India) Limited for Sale Purchase Agreement (SPA) for a period of 10 years with ADNOC Gas for delivery upto 0.52 Million Metric Tonnes Per Annum (MMTPA) of Liquified Natural Gas starting from 2026. This is the first SPA of ADNOC Gas with an Indian buyer. The deal aligns with India’s energy strategy to increase natural gas's share in its energy mix, aiming for 15% by 2030.   The IndusLaw team included Partner Shashwat Kumar and Associate Harshit Gupta. #IndusLaw #GAIL #ADNOCGas #LiquifiedNaturalGas #LNG #NaturalGas #Sustainability #EnergyTransition #CleanEnergy #EnergyPartnership

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NCLT initiates corporate insolvency proceedings against Himalayan Mineral Water Reported by Ritu Singh Read More Here- https://lnkd.in/gZGfeFAy #NCLT #CorporateDebtor #corporateinsolvencyresolutionprocess #financialcreditor #FinancialDebt #HimalayanMineralWaters #interimresolutionprofessional #jammuandKashmirbank #NationalCompanyLawTribunal #principalborrower #Section7IBC #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

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Recent amendments to India’s #arbitration laws aim to improve #DisputeResolution mechanisms, addressing challenges and fostering investor confidence in this evolving landscape. In this video, Padam Khaitan examines these amendments and their impact on India’s arbitration landscape, highlighting the progress so far and areas of improvement. https://lnkd.in/g_6-PGjs #KhaitanCo 

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The conference on Investment Opportunities in Indian Infrastructure opens next week on November 25, 2024, at Shangri-La, Dubai. Meet the stellar cast of speakers - Rajiv Agarwal, CEO & MD, Essar Ports; Harry Chawla, Managing Partner, Luthra & Luthra Law Offices; Delano Melo Furtado Furtado, Partner, Trilegal; Mathew George, Chief Financial Officer, National Highways Infra Trust; vishal gupta, SEO, Senior Vice President, SBI Capital Markets (Abu Dhabi); Anurag V Jain Jain, CIO & Senior Vice President (Investment and Acquisition), National Highways Infra Trust; Amit Kumar Infrastructure Investment Bank; Karan Mitroo, Partner, Luthra and Luthra Law Offices; Bhavin Merchant, Senior Principal, Mubadala Investments Parag Narsingkar, Head - Acquisitions, Investments and Financial Advisory - Middle East, Africa and India, Engie; Amar Narula, Partner, Trilegal Jagannarayan Padmanabhan, Senior Director & Global Head, Transport, Mobility & Logistics - Consulting, CRISIL, An S&P Global Company To join us in person, visit: https://lnkd.in/gQ_fhqdw Hosted by - India Infrastructure Forum Co-Sponsors - Trilegal Supporting Partners - Luthra and Luthra Law Offices India and SBI Capital Markets Supported by - Indian Infrastructure Magazine, CRISIL Limited, IBPC Dubai and Middle East Infrastructure Reach out to Iqbal Kaur at: [email protected] for further queries. #IndiaInfrastructure #GCCInvestments #UAEInvestments #SaudiInvestments #InfrastructureGrowth #RenewableEnergyIndia #FDIIndia #LogisticsInvestments #PortsDevelopment #DigitalIndia #GreenEnergy #InfrastructureInvestment #IndianEconomy #RoadsAndHighways #CleanEnergyProjects #MultimodalInfrastructure #EnergyTransition #InvestmentOpportunities #GlobalInvestors #EconomicGrowth #IndiaGCCRelations #LogisticsIndia #GreenfieldProjects #InvestmentSummit.

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In a landmark case, "Avil Menezes, Liquidator of Sunil Hitech and Engineers Limited vs. Principal Chief Commissioner of Income Tax, Mumbai," significant developments have emerged in the insolvency and bankruptcy landscape. Stay informed on the implications of this ruling by reading the full article here: https://lnkd.in/gpTTDDBd #Insolvency #Bankruptcy #LegalUpdate #LawFirm #indialawllp

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Saraf and Partners acted as legal counsel for consortium of banks and financial institutions led by Punjab National Bank in assignment of stressed assets, involving fund based facilitates aggregating to INR 769.48 crore availed by LUDHIANA TALWANDI TOLL ROADS PRIVATE LIMITED, a special purpose vehicle formed by the consortium of IL&FS TRANSPORTATION NETWORKS LIMITED (ITNL) and Punj Lloyd Limited (PLL) aimed to construct a 78-km, four-lane stretch of National Highway-95 between Ludhiana and Talwandi Bhai road project in Punjab, to National Asset Reconstruction Co Ltd (NARCL). The transaction is a significant milestone for resolution of stressed assets in the infrastructure sector.   Saraf and Partners’ team was led by Partner, Abir Lal Dey. #stressedassets #insolvency #pnb #infrastructure #NARCL #bankingandfinance #financing #debt #restructuring #dealexecution #dealannouncement #sarafandpartners #fullservicelawfirm #fastestgrowinglawfirm #innovativelawfirm #chambersandpartners #legal500 #iflr1000 #asialaw #bwlegalworld #asianlegalbusiness #AIF #investindia #alb #indianlaw #toplawfirm #IBLJ #indianlawfirm #bestindianlawfirm #indianlawyer #bestindianlawyer

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Views of our Managing Partner, RAHUL GARG with the senior Journalist Mr. Sugata Ghosh published in Economic Times today on the important decision of full Bench of Delhi High Court on the issue of profit attribution / taxability in case of PE in India under the Tax treaties treating global loss or profit situation at entity level irrelevant for the said determination.   Trust find the same useful. Team Asire Asire Consulting LLP   #economictimes #timesofindia #ETbureau    #tax #taxation #directtax #law #internationaltax #GST #Customs #regulatory #FEMA #compliance #FDI #ECB #tradecompliance #cbdt #cbic #RBI #EPFO #MCA #lawandlegislation #courts #professionals #charteredaccountants #attorney #legislation #disputeresolution #litigation #ecommerce #technology #OECD #BEPS #taxtreaty #digitaltax #digitaleconomy #ministryoffinance #usibc #nasscom #assocham #ficci #cii #pmo #india #icai #icsi #icawi #icmai #transferpricing #intellectualproperty #crossborder #G20 #G7 #US #UK #EU #FTA #DGFT #MNC #taxpayer #exim #IBC#legal #inhousecounsels #economy #taxes #digital #brexit #trade #legal #investment #finance #startupecosystem #startupindia #startupfunding #startupbusiness #startupfounders #startupadvice #startupideas #startupcompany #startupstrategies #startups #fintech #startup #startupgrind #startupcommunity #startupculture #startupactivity #startupgrowth #mediaindustry #medianews #taxadvice #taxhelp #taxconsultant #taxcompliance #taxexperts #taxdeadline #reporting #taxreporting #internationalbusiness #internationalexpansion #internationallaw #globaleconomy #globalbusiness #globalbusinessservices #globalissues #indianentrepreneurs #training #valuations #indianews #indianewsupdates #indianeconomy #indiabusiness #presscoverage #pressreview #cryptotax #cryptoregulation #cryptoassets #crypto #tokens #tokeneconomy #nfts #rbi #lrs #taxcollection

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My Koffee Conversation with TEIF Yesterday, my "KOFFEE Conversation"with Host Lion Amirr Virani on the theme "Compliance with Integrity and Design" is released on You Tube It was a great opportunity to cover a) My professional learnings at Tata International, OTIS, HDFC Life, Godrej Agrovet and SCHINDLER India. b) My current engagements as Consulting GC and Board Member. c) How legal technology arrived and is becoming a crucial component of the Legal & Compliance domain. d) My three professional life tenets ; 1) Leadership begins with the letter L, which stands for Learning Continuously; 2) Businesses never have a "NO GO" policy; instead, they always prefer "KNOW & GO" and 3) Always begin with an End goal in mind before choosing a route to get there. Setting end goals makes the obstacles appear less daunting. I am greatful to TEIF, Lion Amirr Virani Tech Evangelist and Tech Trainer, Anjali, Payal , Chirag Phalke and the Forum for Emerging Lawyers for the opportunity. If this piques your interest, please click the link below to view the entire conversation https://lnkd.in/daksdsiS #nogoknowgo #TEIF #legaltech #emerginglawyers

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Partner Ashoo Gupta authored an article for Mondaq on the Bombay High Court judgement related to unilateral conveyance in Kharghar Land Dispute. The article discusses legal dispute involving Balaji Corporation, Delta Central Cooperative Housing Society, CIDCO, and the Competent Authority under MOFA (The Maharashtra Ownership Flats Act), concerning delayed land conveyance in a Kharghar project. In this case the court dismissed Balaji Corporation's petition, upholding the deemed conveyance and emphasizing the promoter's responsibilities and flat purchasers' rights under MOFA and RERA. The ruling underscored the Competent Authority's role in enforcing initial agreements and safeguarding the interests of flat purchasers, clarifying the scope of deemed conveyance in real estate transactions. Read more at: https://lnkd.in/gdrE-wYE   #law #realestate #landconveyance #legaldispute #promotersresponsibilities #agreement

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Happy to share my article in BS on changes in CCI's M&A regulatory regime. India’s M&A regulatory regime has recently undergone a seismic transformation. These amendments, primarily stemming from Competition (Amendment) Act, 2023, will reshape the future of corporate mergers, with several positive changes in India’s regulatory approach, ease of doing business (EoDB), oversight, clear deal value thresholds, & speedier decisions. Deal value thresholds: Under new rules, M&A valued above Rs 2,000 crore ($240 million) must be notified to CCI, provided the target has “substantial business operations” in India, as specified. This will bring greater transparency and accountability to high-value deals, ensuring that large transactions undergo regulatory scrutiny. The limit of Rs 2,000 crore might filter out smaller deals and lead to speedier consolidation for greater efficiency. There is now a shortened merger review timeline for CCI. Earlier, CCI had 30 working days to form a prima facie view, now reduced to 30 calendar days. The overall review period has been reduced from 210 to 150 calendar days. The revised regulations have expanded the definition of “control,” which now includes the “ability to exercise material influence” over the management, affairs, or strategic commercial decisions of another enterprise or group. This may bring more M&As under CCI purview with more efficient oversight. While the Act does not define ‘material influence,’ the CCI’s order in UltraTech Cement defines the term as “the lowest level of control and implies the presence of factors which give an enterprise an ability to influence the affairs and management of another enterprise, including factors such as shareholding, special rights, status and expertise of an enterprise or person, board representation, structural/financial arrangements, etc.” Acquisition of less than 25% of shares or voting rights, not leading to a change in control, is now exempt from pre-merger notification needs. The new regime will bring enhanced EoDB. This might also lead to some easier unsolicited acquisitions, although there are still some conditions, such as restrictions on exercising voting rights until regulatory approvals are secured. The exemption for intra-group transactions remains intact, but M&A within the same group is exempt only if they do not result in a change in control. The Form I filing fee has been increased from Rs 20 lakh to Rs 30 lakh, and for Form II, from Rs 65 lakh to Rs 90 lakh. To ensure adherence to CCI’s orders, the CCI can now appoint monitoring agencies, which will be responsible for informing the CCI in case of any non-implementation or non-compliance with its orders. India’s recent changes in M&A regime underscore the country’s growing investment attractiveness, EoDB, and need for robust regulatory oversight. These are also in alignment with prevailing architecture in advanced regimes. Competition Commission Of India Ministry Of Corporate Affairs #M&A

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In a landmark ruling on August 14, the Supreme Court decreed that state taxes on mining activities can be enforced retrospectively from April 1, 2005, casting a financial shadow over heavyweights like Tata Steel Ltd., UltraTech Cement Limited, JSW Steel Limited, and Vedanta Resources Limited. Story by: Saurav Anand Ministry of Coal, Government of India | Tata Steel | JSW Steel | UltraTech Cement | #supremecourtruling #miningtaxes #retrospectivetax #CorporateImpact #TataSteel #UltraTechCement #JSWSTEEL #VedantaResources #LegalPrecedent #indianeconomy

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Indian laws governing the distribution of property after death (Intestate and Succession Law) specify how assets are divided when: * There is no valid will (intestate) * There is a valid will (testate) These laws vary based on the religion of the deceased, with separate statutes for: * Hindus * Muslims * Christians * Parsis. ✅ Schedule Now and Get a 15-Minute Free Consultation Call with Our Expert! Book your slot at https://lnkd.in/egX4K8cF ✅ If you or someone you know requires legal advice or services, please don't hesitate to reach out to us at [email protected] and visit our website at https://glsindiallp.com/ ✅ Additionally, we invite you to connect with us on our LinkedIn page for regular updates and informative legal matters. #IntestateSuccession #SuccessionLawIndia #hindusuccessionact #IndianSuccessionAct #muslimpersonallaw #LegalHeirs #EstateDistribution #InheritanceLaw #FamilyLawIndia #propertyrights #legalframework #TestamentarySuccession https://lnkd.in/d5AEmMCB

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The Union law ministry, on 19 September 2024, sought data regarding all arbitration matters involving the centre over the last 24 years from all ministries. Commenting on this, our Partner, Shruti Khanijow spoke about the need for defining measurable standards for judicial scrutiny of awards and noted that “collecting data on government-related arbitration can help identify inefficiencies, streamline processes and reduce delays". Click here to view the update: https://lnkd.in/dtVinybZ #Arbitration #Data #Lawministry #Centre #Risk

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Explore the incredible journey of Lakshmi Mittal, a self-made billionaire who reshaped the global steel industry with strategic brilliance and relentless ambition. From humble beginnings to leading the world's largest steel producer, Mittal's story is a masterclass in perseverance and visionary leadership. Read our Blog! https://lnkd.in/dkx963n5 #LakshmiMittal #SteelIndustry #Entrepreneurship

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NGT constitutes joint committee to submit report on Illegal mining in Arawali, Sikar Reported by Ritu Singh Read More Here- https://lnkd.in/gRSFtzkX #NationalGreenTribunal #NGT #Aravali #CentralZone #illegalmining #JointCommittee #Sikar #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

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Our Founder and MD, Shriram Subramanian, highlights a pressing concern in corporate governance by #MapmyIndia. He stated that the promoters had misunderstood that the Rs 35-crore investment to support the B2C business concerns minority shareholders. On the contrary, it is the 90% promoter ownership of a business that was incubated and will derive all resources from the listed company. Read the full article On Livemint News Today: https://lnkd.in/gGTbBynC #CorporateGovernance #InvestorAwareness #TransparencyMatters

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