TMI BlogIncome-tax (31st Amendment) Rules, 2021. - Indirect transfer prior to 28th May, 2012 of assets situate in IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... to 28th May, 2012 of assets situate in India 11UE. Specified conditions under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9. (1) For the purposes of clauses (i), (ii) and (iii) of the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9, the declarant shall furnish an undertaking in Form No. 1 and shall append the undertakings from all the interested parties in Part M of the Annexure to the undertaking in Form No. 1 and furnish all the attachments required to be furnished under any clause or Part thereof. (2) The conditions for the purposes of clause (iv) of the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9 shall be the following, namely: - (a) the declarant and all the interested parties shall irrevocably withdraw, terminate or discontinue all the appeals or applications or petitions or proceedings, against the relevant order or orders and furnish evidence thereof and a declaration in the undertaking in Form No. 1 to the effect that it shall not, under any circumstances, reopen or file any such appeal, applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y claim for costs in respect of any proceeding referred to in clauses (a), (b), (c) or (d), including but not limited to any proceeding initiated by the Republic of India to set aside the award, order or judgement, or any other relief, referred to in clauses(a), (b), (c) or (d), issued in favour of the declarant or any of the interested parties; (f) the declarant and all the interested parties shall terminate, release, discharge, and forever irrevocably waive any right, whether direct or indirect, any remedies, claims, demands, liens, actions, suits, causes of action, obligations, controversies, debts, costs, attorneys fees, court s fees, expenses, damages, judgments, orders, compensation, and liabilities of whatever kind or nature at law, in equity, or otherwise, whether now known or unknown, suspected or unsuspected, and whether or not concealed or hidden, which have existed or may have existed, or do exist or which hereafter can, shall or may exist, based on pursuit of any remedy or any and all claims, demands, damages, judgments, awards, costs, expenses, compensation or liabilities of any kind (whether asserted or unasserted), in relation to any facts, events, or omissions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mnity against any claims brought against the Republic of India or any India affiliate contrary to the undertaking, and that the declarant and all the interested parties shall furnish a copy of such public notice to the Republic of India . (3) The execution, delivery and performance of the undertaking in Form No. 1 submitted by the declarant, undertakings from all the interested parties in Part M of the Annexure to the undertaking in Form No. 1 and indemnity bond by the declarant and interested parties in Part N of the Annexure to the undertaking in Form No. 1 shall be duly authorised by all necessary corporate action, including but not limited to any board resolution or similar authorisation under applicable law and a copy of such board resolution and legal authorisation shall be furnished by the declarant. 11UF. Manner of furnishing undertaking under rule 11UE. (1) The undertaking in Form No. 1 under sub-rule (1) of rule 11UE shall be submitted by the declarant to the jurisdictional Principal Commissioner or Commissioner within forty- five days from the date of commencement of the Income-tax (31st Amendment) Rules, 2021. (2) After the undertaking in Form No. 1 under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petitions or proceeding; (ii) arbitration, conciliation or mediation; or (iii) proceeding to enforce or pursue attachments in respect of any award, order or judgement or any other relief against the Republic of India or Indian affiliates, has been filed or notice thereof has been given by the declarant or any interested parties, the declarant and all such interested parties have irrevocably withdrawn all such appeals, applications, petitions, proceeding, arbitration, conciliation and mediation and no further appeal or application or petition or proceeding or arbitration or conciliation or mediation has been filed by the declarant or any such interested party against the Republic of India or any of the Indian Affiliates before the withdrawal of such arbitration, conciliation or mediation and evidence thereof has been furnished at the time of furnishing the undertaking in Form No. 1 referred to in sub-rule (1) of rule 11UE; and (c) where with respect to the relevant order or orders, any,- (i) appeals or applications or petitions or proceeding; (ii) the arbitration, conciliation or mediation; (iii) the proceeding to enforce or pursue attachments in respect of any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r sub-rule (3), (b) within thirty days of the issue of Form No. 2, in cases covered under sub-rule (6). (10) No order rejecting the undertaking in Form No. 1 under clause (b) of sub-rule (2) or declining relief under clause sub-rule (8), shall be passed by the Principal Commissioner or Commissioner without the approval of the Chief Commissioner. (11) For the purpose of rejecting the undertaking under clause (b) of sub-rule (2) or declining to grant relief under sub-rule (8), the Principal Commissioner or Commissioner shall intimate the reasons thereof to the declarant and give him an opportunity of submitting a renewed undertaking in Form No. 1 or renewed intimation in Form No. 3, as the case may be, within a further period not exceeding thirty days. (12) Where the renewed undertaking or renewed intimation is not filed within such further period under sub-rule (11), then, notwithstanding anything contained in any other provision of the rule 11UE and this rule, such undertaking or intimation shall be treated as invalid and the provisions of this rule shall apply as if such person had never furnished the undertaking in Form No. 1 or intimation in Form No. 3, as the case m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or order issued thereunder shall be governed by the relevant Indian laws and be decided in accordance with the procedures specified under the Act, under the exclusive jurisdiction of the relevant income-tax authorities, tribunals or courts in India, as the case may be, which are empowered to decide disputes under the Act. (18) The Form Nos. 1, 2, 3 and 4 of Appendix IV shall be the Forms for the purposes of this rule and rule 11UE. Explanation : - For the purposes of this rule and rule 11UE, unless the context otherwise requires,- (a) declarant means the person in whose case a specified order has been passed or made, as the case may be; (b) Indian affiliate means any of departments, agencies, instrumentalities, public sector companies, and other entities of the Republic of India, owned or controlled, directly or indirectly, allegedly or in fact, by any thereof, as well as any officials, officers, directors, employees, attorneys, representatives, those providing financing, and agents of any of these persons, whether in India or in any other country or territory outside India; (c) interested party means the following, namely:- (i) all the companies or entit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1UE of the Income-tax Rules, 1962 To, Principal Commissioner/Commissioner .. .. Sir/Madam, I ..(name in block letters) son/ daughter of designation ..and nationality ..and related passport number . (hereinafter referred to as signatory ) having Permanent Account Number/Aadhaar Number (see Note 1) on behalf of .. (name of the declarant) having Permanent Account Number / Aadhaar number / Tax Deduction Account Number (see Note 2) .. and being duly authorised and competent to represent the declarant in this regard pursuant to Board Resolution and legal authorisation (see Note 3), as the case may be ,hereby declare as follows: (a) That specified orders have been passed or made in respect of income accruing or arising through or from the transfer of an asset or a capital asset situate in India in consequence of the transfer of a share or interest in a company or entity registered or incorporated outside India made before the 28th day of May, 2012 and particulars of such specified orders are provided in Part A of the Annexure. (b) The declarant has (strike ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e against the relevant order or orders. Particulars of such appeals or applications or petitions or proceeding filed and disposed of, are provided in Part C of the Annexure; (iv) filed appeals or applications or petitions or proceeding before any Income-tax authority or Authority for Advance Rulings constituted under section 245-O of the Act or the Board for Advance Rulings under section 245-OB or Income-tax Settlement Commission constituted under section 245B or the Interim Board for Settlement constituted under section 245AA or any tribunal or court against the relevant orders and one or more of such appeals or applications or petitions or proceeding are pending as on the date of this undertaking and hereby undertakes to irrevocably withdraw, terminate and discontinue any and all such appeals or applications or petitions or proceeding that are pending as on the date of signing this undertaking, on a with prejudice basis, in accordance with clause (e) below. The declarant further undertakes that it shall not file any such appeal, application, petition or proceeding in future against the relevant order or orders. Particulars of such pending appeals or applications or petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ediation in future arising out of or in connection with the relevant order or orders. Particulars of such proceeding for arbitration, conciliation or mediation and notices given thereof, initiated and disposed of, are provided in Part E of the Annexure; (iv) initiated proceeding for arbitration, conciliation or mediation, or notices thereof has been given, under any law for the time being in force or under any agreement entered into by India with any other country or territory outside India, whether for protection of investment or otherwise against the relevant order or orders and one or more of such proceeding or notices are pending on the date of undertaking and hereby undertakes to irrevocably withdraw, terminate and discontinue any and all such proceeding or notices for arbitration, conciliation or mediation that are pending as on the date of signing this undertaking, on a with prejudice basis, in accordance with clause (e) below. Particulars of such pending proceeding and notices filed by the declarant are provided in Part F of the Annexure. The declarant hereby further undertakes that it shall not initiate any such arbitration, conciliation or mediation in future arisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ur of the declarant, as referred to in clause (c) of this undertaking against the Republic of India and any Indian affiliate. The declarant has irrevocably and with prejudice withdrawn or discontinued any such proceeding and hereby undertakes that it shall not reopen any such proceeding in future or file or initiate fresh proceeding to enforce or pursue attachments and evidence thereof is furnished herewith. Particulars of such proceeding, initiated and withdrawn or discontinued by the declarant, are provided in Part H of the Annexure; (iii) initiated proceeding to enforce or pursue attachments in connection with any awards, orders, judgements or any other relief that may have been ordered, issued or passed by any tribunal or court or other judicial, quasi-judicial or administrative authority in relation to the said arbitration, conciliation or mediation proceeding in favour of the declarant, as referred to in clause (c) of this undertaking against the Republic of India and any Indian affiliate. All such proceeding filed by the declarant have been disposed of and no further proceeding has been filed by the declarant and evidence is herewith furnished and hereby undertakes th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (c), sub-clause (v) of clause (c) and sub-clause (iv) of clause (d) of this undertaking, as well as any other pending proceeding against India or Indian affiliates relating to the relevant order or orders and not referenced in clauses (b), (c) and (d) above, and not to pursue in any way and by any means in future the pending proceeding as referenced in clauses (b), (c), and (d) above, and any other pending proceeding relating to the relevant order or orders not referred in the above clauses and any other fresh proceeding relating to the relevant order or orders. In so acting, declarant shall act in accordance with this undertaking and in full cooperation with the Republic of India; (ii) to irrevocably terminate, release, discharge, and forever irrevocably waive any right, whether direct or indirect, and any claims, demands, liens, actions, suits, causes of action, obligations, controversies, debts, costs, attorneys fees, court s fees, expenses, damages, judgments, orders, declaratory reliefs and liabilities of whatever kind or nature at law, in equity, or otherwise, whether now known or unknown previously (or in future discovered), suspected or unsuspected, and whether or n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, court s fees, expenses, damages, judgments, orders, compensation, and liabilities of whatever kind or nature at law, in equity, or otherwise, whether now known or unknown, suspected or unsuspected, and whether or not concealed or hidden, which have existed or may have existed, or do exist or which hereafter can, shall or may exist, based on pursuit of any remedy or any and all claims, demands, damages, judgments, awards, costs, expenses, compensation or liabilities of any kind (whether asserted or unasserted) in relation to any facts, events, or omissions occurring from the beginning of time to the date of this undertaking and thereafter in future in relation to taxation of said income or relevant order or orders, or any related award, judgment or court order, which may otherwise be available to the declarant under any law for the time being in force, in equity, under any statute or under any agreement entered into by Republic of India with any country or territory outside Republic of India, whether for protection of investment or otherwise , whether it is in proceeding initiated by the declarant or by Republic of India and any Indian affiliate. For the avoidance of doubt, the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ian affiliates. To avoid any doubt, the declarant s indemnity of releasees under this clause shall include any claim brought by any third party alleging that it has obtained the declarant s claims under an award, judgement or court order or the relevant order or orders. An indemnity bond to this effect is attached in Part N of the undertaking. (j) For the removal of any doubt, the declarant fully assumes the risk through the indemnity in clause (i) of any omission or mistake with respect to securing releasees against any related claim by any person. If the declarant fails to obtain any release from such person, the declarant warrants that it will indemnify the Republic of India or any Indian affiliates from any defense costs, court costs, and damages. An indemnity bond to the effect of clause (i) and (j) is annexed to the undertaking. (k) The declarant further undertakes to refrain from facilitating, procuring, encouraging or otherwise assisting any person (including but not limited to any related party or interested party) from bringing any proceeding or claims of any kind referred to in the above clauses, or any proceeding or claim of any kind related to any relevan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and (j)has been duly authorised by all necessary corporate action, including but not limited to any board resolution or similar authorisation under applicable law (see Note 3); (iii) this undertaking constitutes the legal, valid and binding obligation of the declarant, enforceable against the declarant in accordance with its terms; (iv) such authorisations described in the above sub-clauses (i), (ii) and(iii) are effective under applicable law, and to this end, letters from local counsel in the relevant jurisdictions are attached to this undertaking which confirm the legality of such authorisations under applicable law. (n) The declarant confirms that by submitting the present undertaking, it fulfills the conditions specified in the Explanation below the sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9. (o) The details of the bank account in which the refund may be credited are provided in Part J of the Annexure. (p) The details of all the interested parties are provided in Part K and Part L of the Annexure. The undertaking in Part M of the Annexure by each of such persons is attached with this undertaking. The declara ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (a) record the signatory s power and authority to give the undertaking on behalf of the declarant; and (b) record the declarant s power and authority to indemnify defend and hold harmless the Republic of India and the Indian affiliates in accordance with clause (i) of the undertaking) VERIFICATION Verified that the contents of this undertaking are true to the best of my knowledge and belief. No part of the undertaking is false and nothing has been concealed or misstated therein. Verified at place on this the day of month ____,_year. Place: .. Date: .. Signature .. Annexure Part A Particulars of the relevant order or orders: Sr. No. Assess-ment Year or Finan-cial year Income- tax Autho-rity passing the order Details of the order under conside-ration Taxes or penalty deter-mined Interest Total demand Relief, provided in any appeal procee-ding, if any Demand recov-ered from the decla-rant Pending demand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clause (b) of the undertaking: Sr. No. Sl. No. in Part A where the relevant order is mentioned Nature of appeals or applications or petitions or proceeding Income-tax authority or Authority for Advance Rulings constituted under section 245-O of the Act or the Board for Advance Rulings under section 245- OB or Income-tax Settlement Commission constituted under section 245B or the Interim Board for Settlement constituted under section 245AA or any tribunal or court before whom such appeals or applications or petitions or proceeding has been filed Date of filing the appeals or applications or petitions or proceeding Date of disposing of or withdrawal such appeals or applications or petitions or proceeding (Please attach a copy of order by the Income- tax authority or Authority for Advance Rulings constituted under section 245-O of the Act or the Board for Advance Rulings under section 245-OB or Income- tax Settlement Commission constituted under section 245B or the Interim Board for Settlement constituted under section 245AA or any tribunal or court accepting th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) (3) (4) (5) (6) (7) (8) Part F Particulars of the proceeding for arbitration, conciliation or mediation, or notices under sub-clause (iv) of clause (c) of the undertaking: Sr. No. Sl. No in Part A where the relevant order is mentioned Nature of proceeding for arbitration, conciliation or mediation, or notices thereof with case number or Notice given Particulars (including the name of the country) where such proceeding for arbitration, conciliation or mediation are pending of notices thereof have been issued Date of initiating the proceeding for arbitration, conciliation or mediation/ issue of notice Name of the agreement entered into by India under which the proceeding for arbitration, conciliation or mediation are pending Status of the proceeding for arbitration, conciliation or mediation (1) (2) (3) (4) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sl. No in Part A where the relevant order is mentioned Nature of proceeding to enforce such award, order or judgement or any other relief Particulars (including the name of the country) where such proceeding to enforce any award, order or judgement or any other relief are taking place Date of filing proceeding to enforce any award, order or judgement or any other relief Nature of such award, order or judgement or any other relief (Attach copy thereof) Status of the proceeding to enforce such award, order or judgement or any other relief (1) (2) (3) (4) (5) (6) (7) Part J Details of bank account in Republic of India to which the refund is to be remitted Sr. No. Bank Name and Address Account Number and other required details for remittance (1) (2) (3) Part K Details of all the all the compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A of the Annexure. (b) The interested party has (strike off options that are not applicable), (i) not filed any appeal or application or petition or proceeding before any Income-tax authority or Authority for Advance Rulings constituted under section 245-O of the Act or the Board for Advance Rulings under section 245-OB or Income-tax Settlement Commission constituted under section 245B or the Interim Board for Settlement constituted under section 245AA or any tribunal or court against the relevant order or orders, and hereby undertakes that it shall not file any appeal, application, petition or proceeding in future against the relevant order or orders. Particulars of such relevant order or orders are provided in Part MB of the Annexure; (ii) filed one or more appeals or applications or petitions or proceeding before any Income-tax authority or Authority for Advance Rulings constituted under section 245-O of the Act or the Board for Advance Rulings under section 245-OB or Income-tax Settlement Commission constituted under section 245B or the Interim Board for Settlement constituted under section 245AA or any tribunal or court against the relevant order or orders ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es that it shall not file any such appeal, application, petition or proceeding in future against the relevant order or orders. Particulars of such pending appeals or applications or petitions or proceeding filed by the interested party and their status as on the date of this undertaking, are provided in Part D of the Annexure. Particulars of any appeals or applications or petitions or proceeding as described in this clause (b) which are not covered by the sub-clauses (i) and (ii) are also provided in Part MD of the Annexure; (c) The interested party has (strike off options that are not applicable), (i) not initiated any proceeding for arbitration, conciliation or mediation, and no notice has been given thereof under any law for the time being in force or under any agreement entered into by Republic of India with any other country or territory outside India, whether for protection of investment or otherwise against the relevant order or orders, and hereby undertakes that it shall not initiate any such arbitration, conciliation or mediation in future. Particulars of such relevant order or orders are provided in Part MB of the Annexure; (ii) initiated proceeding f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tinue any and all such proceeding or notices for arbitration, conciliation or mediation that are pending as on the date of signing this undertaking, on a with prejudice basis, in accordance with clause (e). Particulars of such pending proceeding and notices filed by the interested party are provided in Part F of the Annexure. The interested party hereby further undertakes that it shall not initiate any such arbitration, conciliation or mediation in future arising out of or in connection with the relevant order or orders. Particulars of any proceeding for arbitration, conciliation or mediation, or notices thereof, which are not covered by the sub-clause (i) and sub- clause (ii), are also provided in Part MF of the Annexure; (v) received or got any awards, orders, judgements or any other reliefs issued in favour of the interested party, arising out of or in any way relating to the imposition of tax, interest and penalty based on the relevant order or orders, under any agreement entered into by India with any other country or territory outside India, whether for protection of investment or otherwise and hereby undertakes to irrevocably waive any right to seek or pursue any clai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ii) initiated proceeding to enforce or pursue attachments in connection with any awards, orders, judgements or any other relief that may have been ordered, issued or passed by any tribunal or court or other judicial, quasi-judicial or administrative authority in relation to the said arbitration, conciliation or mediation proceeding in favour of the interested party, as referred to in clause (c) of this undertaking against the Republic of India and any Indian affiliate. All such proceeding filed by the interested party have been disposed of and no further proceeding has been filed by the interested party and evidence is herewith furnished and hereby undertakes that it shall not reopen any such proceeding in future or file or initiate fresh proceeding to enforce or pursue attachments. Particulars of such proceeding, initiated and disposed of, are provided in Part MH of the Annexure; (iv) initiated proceeding to enforce or pursue attachments in respect of any awards, orders, judgements, or any other relief that may have been ordered, issued or passed by any tribunal or court or other judicial, quasi-judicial or administrative authority in relation to the said arbitration, conci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), (c) and (d) above, and not to pursue in any way and by any means in future the pending proceeding as referenced in clauses (b), (c), and (d) , and any other pending proceeding relating to the relevant order or orders not referred in the above clauses and any other fresh proceeding relating to the relevant order or orders. In so acting, interested party shall act in accordance with this undertaking and in full cooperation with the Republic of India; (ii) to irrevocably terminate, release, discharge, and forever irrevocably waive any right, whether direct or indirect, and any claims, demands, liens, actions, suits, causes of action, obligations, controversies, debts, costs, attorneys fees, court s fees, expenses, damages, judgments, orders, declaratory reliefs, and liabilities of whatever kind or nature at law, in equity, or otherwise, whether now known or unknown previously (or in future discovered), suspected or unsuspected, and whether or not concealed or hidden, which have existed or may have existed, or do exist or which hereafter can, shall or may exist , in relation to any award, order, judgment, or any other relief as referred in clauses (b), (c) and (d) of this un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted, and whether or not concealed or hidden, which have existed or may have existed, or do exist or which hereafter can, shall or may exist, based on pursuit of any remedy or any and all claims, demands, damages, judgments, awards, costs, expenses, compensation or liabilities of any kind (whether asserted or unasserted) in relation to any facts, events, or omissions occurring from the beginning of time to the date of this undertaking and thereafter in future in relation to taxation of said income or relevant order or orders, or any related award, judgment or court order, which may otherwise be available to the interested party under any law for the time being in force, in equity, under any statute or under any agreement entered into by India with any country or territory outside India, whether for protection of investment or otherwise , whether it is in proceeding initiated by the interested party or by India and any Indian affiliate. For the avoidance of doubt, the interested party s above waiver includes an irrevocable waiver of any claim against India and any Indian affiliate to costs incurred or interest accrued in relation to the relevant order or orders, or any related ongoi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... releasees against any related claim by any person. If the interested party fails to obtain any release from such person, the interested party warrants that it will indemnify the Republic of India or any Indian affiliates from any defense costs, court costs, and damages. An indemnity bond to the effect of clause (i) and (j) is annexed to the undertaking. (k) The interested party further undertakes to refrain from facilitating, procuring, encouraging or otherwise assisting any party (including but not limited to any related party) from bringing any proceeding or claims of any kind referred to in the above clauses, or any proceeding or claim of any kind related to any relevant order or orders referred to above (whether in respect of tax, interest or penalty). The interested party shall notify by a public notice or press release, at any time before furnishing intimation in Form No. 3 where Form No.3 is required to be furnished under rule 11UF and before furnishing this undertaking in other cases, that by signing this undertaking any claims arising out of or relating to the relevant order or orders or any related award, judgment or court order, no longer subsist. Such public noti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ched to this undertaking which confirm the legality of such authorisations under applicable law; and (n) This undertaking is governed by relevant Indian law and any dispute with respect to this undertaking shall be subject to Indian laws and be decided in accordance with the procedures specified in the Act under the exclusive jurisdiction of the relevant Income-tax authorities, tribunals or courts in India, as the case may be, which are empowered to decide disputes under the Act. I also confirm that, I am aware of all the consequences and implications of this undertaking. Place: .. Date: .. Signature .. Attachments 1. The Board Resolution and legal authorisation, as referred to in clause (m) of Part M. 2. An indemnity bond to the effect of clause (i) and (j) of Part M in Part N of the undertaking in Form No. 1; 3. Copy of the public notice referred to in clause (k) of Part M, where Form No. 3 is not required to be furnished under sub-rule (6) of rule 11UF. 4. Attachments as required in different parts of the Annexure to Part M of this undertaking Notes: 1. This infor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n filed(refer clause (b)(i) of the undertaking). No proceeding has been initiated for arbitration, conciliation or mediation, and no notice has been given thereof under any law for the time being in force or under any agreement entered into by India with any other country or territory outside India, whether for protection of investment or otherwise (refer clause (c)(i) of the undertaking). No proceeding initiated to enforce or pursue attachments in connection with any award, order or judgement, any other relief that may have been ordered or issued or passed by any tribunal or court or other judicial or administrative authority in relation to the said arbitration, conciliation or mediation proceeding in favour of the interested party against the Republic of India and Indian affiliates (refer clause (d)(i) of the undertaking) (1) (2) (3) (4) (5) Applicable or Not applicable Applicable or Not applicable Applicable or Not applicable Part MC P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) (5) Part ME Particulars of the proceeding for arbitration, conciliation or mediation, or notices under sub- clause (ii) and (iii) of clause (c) of the undertaking: Sl. No. Sl. No Part MA where the relevant order is mentioned Nature of proceeding for arbitration, conciliation or mediation, or notices thereof with case number or Notice given Particulars (Including the name of the country) where such proceeding for arbitration, conciliation or mediation are pending or notices thereof have been issued Date of initiating the proceeding for arbitration, conciliation or mediation/ issue of notice Name of the agreement entered into by India under which the proceeding for arbitration, conciliation or mediation are pending Status of the proceeding for arbitration, conciliation or mediation Date of disposing of or withdrawal of such proceeding for arbitration, conciliation or mediation, or notices (Please attach evidence of such disposing of or withdrawal, including order of the Tribunal or co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Part MA where the relevant order is mentioned Nature of proceeding to enforce such award, order or judgement or any other relief Particulars (Including the name of the country) where such proceeding to enforce any award, order or judgement or any other relief are taking place Date of filing proceeding to enforce any award, order or judgement or any other relief Nature of such award, order or judge-ment or any other relief (Attach copy thereof) Status of the procee-ding to enforce such award, order or judgement or any other relief Date of disposing of/ withd-rawal of proceeding to enforce such award, order or judgement or any other relief (Please attach a copy of evidence of such disposing of or withd-rawal, including order of the Court or other judicial authority) (1) (2) (3) (4) (5) (6) (7) (8) Part MI Particulars of the proceeding under sub-clause (iv) of clause (d) of the undertaking: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be, has agreed to indemnify, defend and hold harmless the Republic of India and Indian affiliates from and against any and all costs, expenses (including attorney fees and court fees), interest, damages, and liabilities of any nature arising out of or in any way relating to the assertion or, bringing, filing or maintaining of any claim at any time after the date of furnishing the undertaking in Form No.1 by any person, related to any relevant order or orders, or in relation to any award, order, judgment, or any other relief, or to any dispute underlying the award, and the declarant or interested party, as the case may be, has agreed to furnish an indemnity bond to this effect, such that the declarant or interested party, as the case may be, fully assumes the risk of any omission or mistake with respect to identification and procurement of authorisations and undertakings from any related parties or interested parties as provided in the undertaking, and securing the Republic of India and Indian affiliates from any claim related to any relevant order or orders, or in relation to any award, order, judgment, or any other relief or to the dispute underlying the award against the Republic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to obtain any release from such person, the declarant or interested party, as the case may be, indemnifies through this document the releasees from any defense costs, court costs, and damages. 3. This Indemnity Bond shall be governed by the relevant laws of India and the Delhi High Court shall have sole jurisdiction to entertain and try any dispute or difference arising out of or in connection with the terms of this Bond. IN WITNESS WHEREOF the undersigned herein has signed and set his hands on this _________day of __________, 2021. For and on behalf of the declarant or interested party, as the case may be, ________________ Name and address of Witness Signature of the Witness 1. 2. Place; Date: Note 1. This information is required to be furnished where the Permanent Account Number or Aadhaar Number of the signatory is available. 2. Company Identification Number and Taxpayer Identification Number are to be provided where Permanent Account Number or Aadhaar Number or Tax Deduction Account Number of the declarant or interested party, as the case may be, are not available. 3. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (5) (6) (7) (8) (9) (10) (11) (12) (13) 3. Demand recovered , as per the column (11) of the Table above, shall be refunded to the declarant, subject to the conditions under sub-rule (2)of the rule 11UE and the provisions of the Act, without any interest as per the provisions of the sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9 of the Act, attachments, if any, the details whereof are provided in column (13) of the Table, shall be revoked and appeals or applications or petitions or proceeding, if any, filed by any Income-tax Authority or any other person representing the Republic of India with respect to the specified orders, as per column (2) of the Table, shall be withdrawn or intimation shall be sent to the concerned person, on the issue of Form No. 4, as per the procedure provided in sub- rule (16) of rule 11UF. Further, no interest under section 244A of the Act will be payable to the declarant as per the provisions of sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany Identification Number and Taxpayer Identification Number are to be provided where Permanent Account Number or Aadhaar Number or Tax Deduction Account Number of the interested party are not available. 3. The Board Resolution or legal authorisation, as referred to in clause (m) of the undertaking and such Board resolution or legal authorisation shall, among other things: (c) record the signatory s power and authority to give the undertaking on behalf of the interested party; and (d) record the interested party s power and authority to indemnify defend and hold harmless the Republic of India and the Indian affiliates in accordance with clause (i) of the undertaking) Form No. 4 [See rule 11UF] Order by Principal Commissioner or Commissioner under sub-rule (7) of rule 11UF of the Income -tax Rules, 1962 Whereas ..(Name and Permanent Account Number/Aadhaar number/ Tax Deduction Account Number/ Company Identification Number and Taxpayer Identification Number of the declarant) (hereinafter referred to as declarant) had furnished undertaking under clause (a) of the rule 11UE, which was received on .(Date); ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
