Niche Law Firm & Client Care Law Firm of the Year - India

Firm Profile

M S Mishra Associates is a full service law firm with its principal establishment in New Delhi and core competence in strategic litigation with a human touch. Advisory is purely incidental and the advisory board comprises many eminent persons. Manu Shanker Mishra is the managing partner.

"As markets evolve and market corners develop, the working of the markets for adjudication, legislation as well as goods and services become distinct with increasing specialization. Capital markets and financial market depend on conceptions as operators work and perceptions with generators." "Shifts in market sentiment are due to existence of expectations driven by multiple equilibra and there are self fulfilling rational crises under conditions of vulnerability. Consensus with asymmetric law based bargaining may leave welfare criteria unchanged. Incorporating capital market imperfections into inter temporal analysis, sustainability of current account deficits imposes a structure on future behavior patterns and inter- temporal budget constraints of solvency. Anticipation of government policy shifts take the form of debt default or devaluation or a fiscal adjustment. In the baseline scenario, if the policy ignores these expectations it would be unsustainable. The event which evokes or triggers a policy shift depends on degree of vulnerability to external shocks. The anticipation of future policy is reflected in the interest differential ( if the interest rate is pegged) for future devaluation or capital flight from future taxation of assets."

"The wealth distress being a factor for deciding tax incidence as back of the envelope, International portfolio

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allocations invariably require lines of resolution ."

"For the linear programming models of tax planning, the objective function and the likelihood function given by sliding the envelope on x leads to sigmoidal or sigma functions. The ramifications of strategic decisions follow a critical path that minimizes tax costs or maximize post tax profits. As the time value of money alters , this requires alignment of social and financial derivatives for gainful deployment of capital. Sensitivity analysis is on beta and gamma stress testing is on alpha and delta function

The role of objective function and active constraint being exchangeable leading to same solution or equivalent optimization problems or local strategies, a local sensitivity analysis can be done." "With an attractive growth rate, inflationary trends and widening current account deficit are a cause of worry. Tax shelters and inconsistency in capital accounts treatment, special deductions and exceptions is far from an effective revenue code. The sub-optimal FDI strategy needs to go beyond capital allocation effects along with prudential financial regulations for capital management. Regulatory incentives with strategies beyond building an enabling environment in the sub- optimal global strategy which is sector specific with sectoral caps and the optimal local strategy are required."

Patna:

26, Sardar Patel Path, North Shri Krishna Puri , Patna – 800013,Bihar

Tel : +91(0)-612-2571250, +91(0) 6122573997

Delhi:

E-208, L.G.F , Greater Kailash-II New Delhi – 110048,India

Tel : +91(0)-11- 29223060, +91(0)-11- 29223799

Hyderabad:

321-C, Road No.- 25B Jubilee Hills, Hyderabad Andhra Pradesh, India

Tel: +91(0) 44-23542952

Email:info@msmishraassoc.org Website : www.msmishraassoc.org

Lawyer Monthly Legal Awards 2011

85