April 06 2020
The recent decision of the Mumbai Income Tax Appellate Tribunal (“ITAT”) in the General Motors Overseas Corporation case has laid new ground in the law relating to secondments. In this update, we shall discuss the facts of the case, arguments raised before the ITAT and the implications of the decision.
April 06 2020
Upon representations by various stakeholders and in the interest of all companies, the Ministry of Corporate Aairs (“MCA”) recently came out with the Companies Fresh Start Scheme, 2020. The purpose of the said scheme is to condone the delay in filing of documents and provide a one-time waiver to companies from prosecution and imposition of additional fee, in order to enable such companies to file all their documents.
April 06 2020
Upon representations by various stakeholders and in the interest of all limited liability partnerships (“LLPs”), the Ministry of Corporate Aairs (“MCA”) recently came out with the LLP Settlement Scheme 2020. The purpose of the scheme is to condone the delay in filing of documents and provide a one-time waiver to LLPs from prosecution and imposition of additional fee, in order to enable LLPs to file all their documents.
April 03 2020
Due to Novel COVID-19, partial / complete lockdown has been imposed in various countries across the world. The Hon’ble Prime Minister of India on March 23, 2020 announced a complete lockdown throughout the country for 21 days, as a preventive measure to slow down the spreading of the virus.
March 30 2020
Amongst other objectives, contracts are about the allocation of risksbetween contracting parties. Risks that may hinder or absolutely obviate the possibility performance are therefore addressed, either by parties themselves in the contract, or by the legal rule of frustration of contracts.
March 30 2020
In view of the recent COVID-19 outbreak, various Constitutional Courts as well as statutory bodies related to Intellectual Property Laws in India have announced several relief measures for the stakeholders. The said measures have been detailed hereinbelow, along with their implications.
International Trade & WTO
March 27 2020
Trade Remedy measures act as a shield for the domestic industries of importing countries, since they curb excessive and unfair imports into the country and allow healthy competition to exist. Since anti-dumping and countervailing duties target unfair imports, they are imposed on imports of specific goods ‘originating in or exported from’ specific countries.
March 26 2020
On March 24, 2020, the Finance Minister announced several relief measures across sectors, relating to Statutory and Regulatory compliance matters, in view of the COVID-19 outbreak in the country. The main relief measures have been detailed below, along with their implications for businesses.
March 24 2020
Considering that nowadays airlines industry is almost always in the news for one reason or another, this may be the best time to highlight one of the issues being faced by this industry.
March 17 2020
The Finance Bill 2020 (referred to as the ‘Bill’) proposed plethora of amendments in the Income Tax Act, 1961 (referred to as the ‘Act’) on different aspects. One such amendment was to relieve corporates from paying distribution tax on dividends (‘DDT’) and going back to the old school ways of taxing such dividends in the hands of the shareholders.
Intellectual Property Rights
March 16 2020
In the case of Fox Star Studios (Division of Star India Private Limited) v. Aparna Bhat & Ors.[ CM (M) 15/2020], a Single Judge of Delhi High Court vide its order dated 11th January 2020, held that once a person has contributed to any cinematographic film in any manner, then as per the moral rights, he/ she has right to paternity.
Banking & Finance
March 11 2020
India has seen rapid advancement in the FinTech industry in the last couple of years leading to increased number of transactions, entry of number of non-banking players, availability of multiple online payment modes, etc. This evolving sector is majorly regulated by the Reserve Bank of India by way of issuance of guidelines, directions, policies, instructions from time to time.