News
Recovery certificate holder can initiate CIRP as financial creditor within three years of issuance of certificate
10 June 2022
Holding that liability in respect of a claim arising out of a recovery certificate would be a ‘financial debt’, the 3-Judge Bench of the Supreme Court has held that a person who holds a recovery certificate would be a ‘financial creditor’ within the meaning of clause (7) of Section 5 of the Insolvency and Bankruptcy Code, 2016.
IPR suits, even those valued below INR 0.3 million, to be instituted before District Judge (Commercial)
07 June 2022
The Delhi High Court has directed that all IPR suits are to be instituted before the District Judge (Commercial) and if IPR suit is valued below INR 0.3 million (INR 3 lakh), the Commercial Court shall examine the specified value and suit valuation to ensure it is not arbitrary or unreasonable and the suit is not undervalued.
Copyright infringement is a cognizable and non-bailable offense
30 May 2022
Allowing an appeal against the decision of the Delhi High Court, the Supreme Court has held that the offense of copyright infringement under Section 63 the Copyright Act, 1957 is a cognizable and non-bailable offence.
IGST not payable by Indian importer on RCM basis on ocean freight in case of CIF imports
23 May 2022
The Supreme Court in its judgment dated 19 May 2022 has held that the Indian importer cannot be subject to the levy of Integrated Goods and Services Tax (‘IGST’), on reverse charge basis, on the component of ocean freight paid by the foreign seller to a foreign shipping line, in a case of CIF imports, i.e. where the cost, insurance and freight were initially borne by the foreign exporter.
Trademarks – Domain name registration – No omnibus injunction against offerings by DNRs – Registries however to ensure that infringing domain names are not suggested as alternatives
12 May 2022
The Delhi High Court has reiterated its stand of not granting any omnibus injunction to the domain name registries (DNRs).
Arbitration – Group of Companies doctrine for inclusion of non-signatories – Supreme Court refers issue to Larger Bench
10 May 2022
Dealing with an application filed under Section 11 of the Arbitration and Conciliation Act, 1996 (‘Arbitration Act’), the 3-Judge Bench of the Supreme Court has doubted the correctness of its earlier decision in the case Chloro Controls India Pvt. Ltd. v. Seven Trent Water Purification and number of subsequent decisions following it on application to the ‘Group of Companies Doctrine’.
Reassessment notices issued under pre-amended Section 148, though issued after 1 April 2021, are valid – New procedure however applicable
05 May 2022
The Supreme Court has, in its judgement dated 4 May 2022, held that the reassessment notices issued under unamended Section 148 of the Income Tax Act, 1961, but after the amendments by the Finance Act, 2021, are valid.
Arbitration – Group of Companies Doctrine when bounds non-signatory to an arbitration agreement
03 May 2022
The Supreme Court has reiterated that a party which is not a signatory to a contract containing an arbitration clause may be bound by the agreement to arbitrate if it is an alter ego of a party that executed the agreement.
Phonetic identity is an important index of similarity; Tests of phonetic, visual, and structural similarity are disjunctive
28 April 2022
The Delhi High Court while dealing with a suit for a permanent injunction observed that a phonetic identity or similarity is an important index of similarity or deceptive similarity of one mark against the other competing mark. It has also reiterated that the tests of phonetic, visual, and structural similarity or identity are disjunctive and not conjunctive.
Insolvency – ‘CIRP costs’ to include only salaries of employees who worked during CIRP
25 April 2022
The Supreme Court has held that the dues towards the wages/salaries of only those workmen/employees who actually worked during the Corporate Insolvency Resolution Process (CIRP) are to be included in the CIRP costs.