Exclusive: New Indian law to protect foreign investors to exclude tax demands - documents
This law on investments in India is still works in progress.
It is a welcome move on the part of Indian authorities to address the slow legal process by proposing an ombudsman and an appellate tribunal for resolution of disputes.
We assume that with this local adjudication process the right to refer disputes to international arbitration will be taken away. Local adjudication is fine provided the tribunal hearing the cases are beyond reproach, both in reality and in appearance. The maximum time periods given for the rulings, 90 days and 180 days for ombudsman and appellate tribunal respectively, seem reasonable.
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