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Our attorneys and specialists remain up-to-date with the latest legal developments and offer their perspectives and critical commentary.

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International Trade & WTO

Respite for Indian domestic industry: “Negative” final findings of Designated Authority appealable

October 24 2018

In an anti-dumping investigation, the Designated Authority may or may not recommend imposition of anti-dumping duties and where such recommendation is “positive”, the Ministry of Finance makes a policy decision regarding the same and issues customs notification where duty is to be imposed.

Goods and Services Tax

TDS under GST law – Certain issues

October 22 2018

Ever since Goods and Service Tax (GST) has been implemented, it has really kept the taxman as well as the implementers along with the taxpayers on their toes.

Insolvency

Supreme Court ruling in ArcelorMittal case – An analysis

October 12 2018

The Supreme Court on 4-10-2018 allowed yet another opportunity to mining major ArcelorMittal and Russia’s VTB Capital-backed NuMetal to bid for Essar Steel provided they clear their Non-Performing Asset (NPA) dues in two weeks. The bench comprising Justice R. F. Nariman and Justice Indu Malhotra, has also taken this opportunity to interpret and clarify Section 29A of the Insolvency and Bankruptcy Code, 2016. However, the Essar saga is far from over.

Corporate Advisory | Regulatory Laws

Data Principal and Data Fiduciary in the Personal Data Protection Bill, 2018

October 12 2018

The Chilean Constitution was amended on 16th June, 2018 to establish that protection of personal data is a constitutional right. Prior to this, other Latin American countries like Colombia, Mexico and Ecuador have already included the right to protection of personal data

Corporate Advisory | Insolvency

Cross Border Insolvency – An analysis of the draft chapter

October 12 2018

In the last few years, India’s banking sector has been fraught with an alarming number of non-performing assets. To this end, the Insolvency and Bankruptcy Code of 2016 (Code) strives to resolve the problem by allowing creditors to recover their dues and appropriately deal with loan defaulters. Akin to insolvency, its cross-border variant is one where the insolvent debtor has assets in more than one jurisdiction.

Intellectual Property Rights

Foreign filing license - Some issues

October 11 2018

Any person (inventor or applicant) who is an Indian resident, may wish to file a patent application (an application) in foreign countries due to various reasons, such as market potential, licensing opportunities, or other business policies. In such cases, the person may choose to either first file the application in India or obtain a foreign filing permission from the Indian Patent Office.

Intellectual Property Rights

White Paper on Data Protection and Privacy

October 11 2018

The Government of India constituted a Committee of Experts on July 31st, 2017 under the Chairmanship of former Supreme Court justice B.N. Srikrishna with the objective to identify and study the key issues relating to data protection in India and make specific suggestions on principles to be considered for data protection in India and suggest a draft Data Protection Bill.

Cybercrime: An Impending Threat in this Tech Savvy World

October 11 2018

The enormity and anonymity of cybercrimes weakens trust of individuals and businesses in the Information Communications Technology. Globally, the world is still coming to terms with the reactionary and reporting measures that must take place with respect to cybercrimes. In India

Direct Tax

Amalgamation – Action in concert for tax benefit?

October 08 2018

The High Court of Gujarat observed in Wood Polymer [ See End Note 1] "and the court would not lend its assistance to defeat public interest, namely, tax provision.” A recent order of National Company Law Tribunal (NCLT) refusing to accord sanction to amalgamation scheme has raised certain interesting yet important questions.

Direct Tax | International Trade & WTO

Has the clock stopped ticking? India’s export subsidies under the SCM Agreement

September 18 2018

The United States has upped the ante in its efforts to – what it perceives – rebalance its trade dynamic with other countries. This has inevitably led to a trade war between the United States and other major economies, particularly China.

Goods and Services Tax

Preparing for GST Audit & Annual Returns

September 13 2018

Goods & Services Tax (GST) is a self-assessment and trust-based system of taxation wherein the registered person himself assesses and deposits his tax liability without any interference of tax officers. Due to such nature of the tax system, various types of audit mechanism have been incorporated to ensure compliance with the provisions by verifying the correctness of declared turnover, taxes paid, refunds claimed and tax credit availed.

Insolvency

Section 29A of IBC: Impact and Recent Developments

September 06 2018

The Insolvency and Bankruptcy Code 2016 (‘Code’) aims for resolution of insolvency as opposed to liquidation. The law was framed with the intention to expedite and simplify the process of insolvency and bankruptcy proceedings in India ensuring fair negotiations between opposite parties and encouraging revival of the company by formulation of a resolution plan.

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