Insurance

In India, the insurance sector has recently flavored the taste of liberalization. The recent liberalization with the passing of the Insurance Regulatory and Development Act, 1999 permitted private players to participate in the Insurance sector. Life insurance is still a domain of the Public Sector, but a host of private insurance players have emerged in other sectors of insurance. Currently, foreign participants are permitted to hold only up to 26 % shareholding in an Indian joint venture.

Our practice area in the Insurance sector primarily focuses on :

• Advising on the Insurance Act, 1938, Insurance Regulatory and Development Act, 1999 and allied laws, rules and regulations in concurrence with foreign exchange regulations, consumer protection laws, etc.
• Advise on structuring of investment in India making it most tax friendly
• Advise on compliance issues under the domestic tax provisions, both direct, and indirect
• Drafting / reviewing various contractual agreements

For more information, please contact us at info@chugh.com