Engee Overseas Private Limited, a company belonging to the group of a hand tools manufacturer-exporter based at Jalandhar (Punjab), wished to invest in a software joint venture in USA. We helped the company draft the relevant agreements and finalize the pricing of the shares of the US company. The case required special clearance from a committee comprising of senior Reserve Bank of India (RBI) and Government officials as it did not fit within the stipulated norms. We represented the company at the RBI headquarters in Mumbai and successfully obtained the permission.

Dabon International Limited is a joint venture between Bongrain of France and Dabur of India manufacturing cheese and other related milk products near Delhi. The managerial remuneration payable to the Chief Executive was in excess of the prescribed norms of the Companies Act, 1956 due to a contractual obligation. We assisted in obtaining the requisite permission from the Company Law Board. This assignment was carried out on behalf of a firm of Chartered Accountants who were retained by the company in other matters.

Daewoo Telecom Limited, Korea was advised by us on their options for setting up a software unit in India. They chose to set it up under the Software Technology Park scheme as a branch office of their Korean company. This was a unique case where the software unit in India would not be a company incorporated in India. We handled the entire procedures that included special permissions from Department of Electronics, Government of India, Reserve Bank of India, Mumbai and the Software Technology Park authorities. We successfully completed the case and the unit was set up in 1997. In end-2000, Mercury Corporation of Korea has taken over some assets of Daewoo Telecom Ltd, Korea that include the Indian unit. We continue to be involved with the Government permissions for this changeover.