PPP involves a contract between a public sector authority and a private party, in which the private party provides a public service or project and assumes substantial financial, technical and operational risk in the project. In some types of PPP, the cost of using the service is borne exclusively by the users of the service and not by the taxpayer. In other types (notably the private finance initiative), capital investment is made by the private sector on the basis of a contract with government to provide agreed services and the cost of providing the service is borne wholly or in part by the government. Government contributions to a PPP may also be in kind (notably the transfer of existing assets).
In projects that are aimed at creating public goods like in the infrastructure sector, the government may provide a capital subsidy in the form of a one-time grant, so as to make it more attractive to the private investors. In some other cases, the government may support the project by providing revenue subsidies, including tax breaks or by removing guaranteed annual revenues for a fixed time period.
The 15-year history of public-private partnership (PPP) in India is mainly about creating an enabling environment to get private capitalto invest in infrastructure assets. So, a plethora of instrumentalities from model concession agreements, viability gap funding, definitions of infrastructure and specialised financing have focused on asset creation. The happy result is that we now have a fairly large basket of operating assets.
Following the rapid expansion of PPP, there are concerns about the dispute resolution mechanisms in place. There is a certain dissatisfaction among private sector participants arising from the responses they receive from project authorities about their obligations.Most concession agreements specify the obligations of project authorities, along with timelines for fulfilling such obligations. Whenever some of these obligations are not fulfilled, projects get delayed, which in turn increases project costs and reduces the returns.
Private sector entities often find it difficult to enforce their contractual rights and tend to stop short of claiming damages due to them for fear of antagonising project authorities. The ultimate recourse available to the private sector participants is only arbitration, as provided in the contract.
According to the Finance Ministry site, there have been 758 PPP projects where a contract has been awarded and projects are underway. The total project cost is estimated to be about Rs. 3,83,332.06 crore.
Given the current state of arbitration in India and the likelihood of arbitral awards being challenged in courts, project developers face a long process which imposes a heavy burden on them, the statement said.
Large amounts of capital get locked up in disputes, restricting growth and the ability of entrepreneurs to use it fruitfully. Further, developers factor these delays into their costs, thus pushing up project costs.
FDC in involved as PPP legal advisory with various Govt & private bodies to resolve the matter arbitrarily or in litigation
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It’s important as part of your year-end tax strategy to have a good understanding of your company’s financial situation. Spend extra time ensuring your books are up-to-date and accurate. It won’t hurt to plan time with your accountant for year-end advice, particular to your operations.
Typically people rely on a standard set of year-end tax planning techniques such as deferring income to the following year and accelerating deductions into the current year. Examples of these types of tactics are holding off on selling investments with gains until later or paying tax deductions such as property tax or charity donations. There is a lot more which can be done well in advance.
Selling the stakes , joint ventures , tax policy updations in any venture propel us to make new tax saving strategies . Be it an MNC , domestic company or various branches on the same group.
Case studies :
-One of the software & technical backup company in San Francisco was tackling with various tax implications , however FDC team converted it into WOS and HR plan was restructured. The legal strategies formed as there was transfer pricing element by which associates enterprise was providing & exporting software services from its Indian office .
– A UK based company wanted to avail outsource services in software development & SEO , while the agreement was not in favor of the company and giving rise to tax implications in India. The agreement rescheduled and drafted shifting all tax paradigms to Indian source company .
The above given case studies do not form part of law firm’s achievements in contravention of the rules of Bar council of India.
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Business owners can find it difficult to arrange adequate capital . However means of finances can be created by using the knowledge for a particular place . In certain countries the particular types of projects are promoted by Government itself , large subsidies , focal points , tax free zones and revenues shares are provide by the govt . It means improving your systems and processes so that your business information can be more accurate and readily available.
There are particular sources to be considered for operating business models and for managing your finances, such as a shared services or outsourcing arrangement. Project financing plays an important part in any multi level big project. There are various tax free zones , subsudies which can be utilized in a particular segment or area .
In India various industries are on a threshold , whereas with the joint ventures modals and legal framework they can be turned as profitable . All these needs managing the finances. may it be bank loans , CC limits , selling your no-profitable stakes, FDC always helps to provide legal consultancy at grass root level .
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Budding lawyers always seems perplex on matters of choosing area of interest . The are so many factors which drag the law professional in a particular area . Whether undergraduate or law students, all legal interns are given substantive work from their first day that makes a real difference in their clients’ lives. At the Training hall of law , you’ll gain intimate experience with corporate laws and the inner workings . You’ll become part of a close-knit group of attorneys, advocates, and others committed to social justice. Real attorneys and its team are not only leaders in their fields, but are deeply committed to helping train the next generation of civil rights attorneys, advocates, and non-profit leaders.
As you know, law schools receive plenty of criticism for failing to prepare lawyers for law practice, and there are many opportunities for improvement. Having said that, most law schools offer a wide variety of courses, from theoretical to intensely practical, that will prove useful when students start practicing.
In our view, the most important classes you can take are legal research and writing, both basic and advanced.. Mastery of legal analysis and writing skills in law school are critical—both because these tools make you an immediate asset to a law firm and also because they are virtually impossible to spend time on and improve once in practice. After legal research and writing, skills classes , as well as some extracurricular activities, were very helpful and when someone work but and afterwards starts own practice. It took a full year of trial advocacy and skills, where it takes depositions, drafted interrogatories, and eventually prepares witnesses for a mock trial. The class give us confidence on the basics when one has to face first trial. Likewise, moot court prepares us also to draft briefs and argue but a professional environment at law firm sharpen your skills in a professional manner .
So at this juncture a high level of integrity is sought from budding lawyers to choose the internship carefully .
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