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USIBC and SABA-DC Present: Foreign Bank Accounts and "Black Money" and Cross-Border Mergers & Acquisitions in India and the U.S.

  • Tuesday, June 16, 2015
  • 9:30 AM - 1:00 PM
  • Covington & Burling, 850 10th Street NW
Foreign Bank Accounts and "Black Money"


Cross-Border Mergers & Acquisitions in India and the U.S.

Register at 1886/register%20

Tuesday - June 16, 2015 
9:30am - 1:00pm 
(followed by lunch)

Covington & Burling 
850 Tenth Street NW
Washington D.C.

Please join USIBC's Legal Services Executive Committee in welcoming the Indian National Bar Association (INBA) delegation to Washington. INBA is a non-profit, non-political, non-Governmental Association acting as the premier body representing the interest of the Indian legal community. INBA has organized a delegation of some of India's leading legal practitioners to visit the U.S. The morning session will include discussions on:

Foreign Bank Accounts and "Black Money": Recent legal developments in the U.S. and India on Foreign Account Tax Compliance (FACTA), Corruption, and Off-Shore Accounts
Description: In recent years, U.S. authorities have focused on ending offshore tax evasion. Recently the U.S. passed the Foreign Account Tax Compliance Act of 2010 (FATCA). India has similarly been cracking down on off-shore back accounts or "black money." Recently, the Indian authorities required reporting of foreign travel and foreign accounts (both dormant and active) only to have this changed weeks later. Black money can also be tied to corruption as illicit money flows are difficult to track the source. The Ministry of Finance has recognized that "Black Money" usually refers to any income on which the taxes imposed by government or public authorities have not been paid. Such wealth may consist of income generated from legitimate activities or activities that are illegitimate per se, like smuggling, illicit trade in banned substances, counterfeit currency, arms trafficking, terrorism, and corruption. This panel will explore the recent actions by both governments to track and tax off-shore bank accounts and its relationship to corruption.


Cross-Border Mergers & Acquisitions in India and the U.S.: Developments, Trends, and Hot Topics
Description: Merger and acquisition (M&A) activity in both the U.S. and India is once again booming. This panel will examine the sectors that are "hot" for M&A, some of the legal issues facing completion of the transactions, and discuss issues relating to receiving government approval. The panel will also discuss the evolving FDI rules and FIPB notifications, the Prime Minister's "fast track" committee for investments, and diligence issues related to getting a deal finalized and closed.

Thank you to our host

Covington and Burling

and partnering organization SABA-DC

For any further information, please contact Amy Hariani at


Our goal is to address the needs and concerns of the South Asian American legal community in Washington, D.C. while providing our members with the knowledge and support necessary to reach their personal and professional goals.

You can find us here:

South Asian Bar Association of Washington, D.C.

P.O. Box 65349
Washington, D.C. 20035

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