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In June 2006, the Tokyo Stock Exchange (TSE) published a basic action plan and guidelines to improve its listing system.

The existing guidelines regulating external commercial borrowings (ECBs) by Indian corporates from non-resident lenders (including international banks, international capital markets, multilateral financial institutions, export credit agencies, suppliers of equipment, foreign collaborators and foreign equity holders) impose restrictions on the end use of ECB proceeds, including limiting their use in the real estate sector.

Germany tries to stop its corporates registering as English limited companies

Dual-tracks are now the norm

A&O funds Indian professorship The National Law School of India University, Bangalore In a move hoped to build its presence in India, Allen & Overy announced today the sponsorship of a local law professor. Like many of its UK competitors, A&O is keen to get a foothold in the region but is unable to set up a physical office because of local bar rules that prevent it. The firm is investing in the development of the Indian legal market by providing an endowment for the appointment of a professor of International Financial Law at the National Law School of India University, Bangalore. The professor will be known as the Allen & Overy professor of international financial law. Most big UK firms have an Indian group, normally with an Indian national at its helm (Sandeep Katwala at Linklaters, Nipun Gupta at White & Case, Nimi Patel at Herbert Smith). Linklaters also operates a referral firm, Thawar Thakore & Associates, that seconds lawyers to Linklaters. The Allen & Overy announcement was made during a visit to the National Law School by Department of Constitutional Affairs minister Cathy Ashton, who is in India on a ministerial visit. Alex Pease, chairman of Allen & Overy's India Group, commented: "We appreciate the complex challenges that lie ahead for India's legal infrastructure in terms of meeting the demands of a rapidly growing economy. This endowment is a first step towards establishing a collaborative approach within India to address some of these challenges. Students will now have the option of learning about international financial law." As part of the 10-year endowment A&O will also provide occasional guest speakers to visit the University, including professor Philip Wood, Allen & Overy special global counsel. Professor Wood is the visiting professor at the University of Oxford, Queen Mary College and the London School of Economics & Political Science and Yorke Distinguished Fellow at Cambridge University. The Allen & Overy professor of international financial law will also conduct research into issues of Indian law of interest to the international financial community to help build greater understanding of the unique features of the Indian market.

Pari passu for foreign creditors and much more

The exchanges offering SEC relief

The FSA tries to clarify its position

How much has the scandal been blown out of proportion?

The problems with equity bridges