Starting an oil and gas company in India involves tight pre-incorporation compliances. Key actions are:
Foreign Investment Approvals: Secure FDI approvals and adhere to sector-specific caps (e.g., 100% FDI in automatic route for most downstream operations)
Regulatory...
Starting an oil and gas company in India involves tight pre-incorporation compliances. Key actions are:
Foreign Investment Approvals: Secure FDI approvals and adhere to sector-specific caps (e.g., 100% FDI in automatic route for most downstream operations)
Regulatory Filings: Submit AGILE-PRO forms for PAN, TAN, GST, and professional tax registrations, especially for Maharashtra states
Environmental & Legal Clearances: Obtain No-Objection Certificates (NOCs) for exploration, aligned with the amended Oilfields Act, 2024, which now governs hydrocarbons like shale gas
Name Reservation: Ensure proposed names comply with MCA guidelines and avoid conflicts with existing entities
Due Diligence: Conduct legal, financial, and compliance audits to address insider trading risks (SEBI’s PIT Regulations) and land-use laws
New policy developments, including INR 5,932 crore dispensations for strategic oil reserve and fast-track merger provisions, further characterize compliance agendas