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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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Intellectual Property Rights

Patents Act – IPAB re-emphasizes compliance with Sections 14 and 15

March 24 2014

The Intellectual Property Appellate Board (IPAB) by its recent orders [see end note 1] dated 20th January, 2014 and 23rd January, 2014, set aside the orders of Assistant Controller rejecting the patent applications for a "sterile pharmaceutical composition" [see end note 2] and a "crystalline polymorph of a bisulfate salt of a thrombin receptor antagonist" [see end note 3] on grounds of lack of compliance with Section 14 and Section 15 of the Patents Act, 1970 (the Act) respectively.

Securities Laws

Voting rights of holders of depository receipts abroad

March 19 2014

Depository Receipts (DR) are negotiable securities issued outside India by a depository bank against underlying rupee shares that are issued by a company incorporated in India. The DR can represent a fraction, single or multiple shares of an Indian issuer company (‘the Company’).

Excise Valuation: Sales Tax – Incentive or Deterrence?

March 18 2014

Valuation under Central Excise law has always been one of the areas of dispute and it has again been brought to the fore front of discussions with the recent decision of the Supreme Court in the case of Super Synotex (India) Ltd and Others.

How relevant is the “relevant period” for credit distribution?

March 14 2014

Rule 7 of the Cenvat Credit Rules [‘Credit Rules’ for short] relating to distribution of credit by an Input Service Distributor (“ISD”) has always been a problem area of the Credit Rules.

International Trade & WTO

Provisional anti-dumping measures in India – A misused provision

March 07 2014

An anti-dumping investigation normally stretches for a period of 12 months, which upon due cause shown may continue up to 18 months from the date of initiation of the investigation.

Restraining legal proceedings - Recent trends

February 19 2014

The general law of contract recognizes promises made for consideration as legally enforceable agreements. However, it frowns upon certain promises and prohibits their enforcement, including those that are in restraint of legal proceedings.

Corporate Advisory

Rights of nomination

February 19 2014

A nominee in common parlance is understood as a beneficiary who has been so nominated to receive the benefit of a moveable asset (money) on the death of the person who is the owner of such asset and who has named the nominee in the relevant document.

Cenvat credit – Of mindset and (juris)prudence

February 18 2014

From excisability and manufacture to valuation, Union Excise Duties have witnessed pitched courtroom battles over the past few decades.

International Trade & WTO

Single rate for producers & exporters from NME countries – An analysis

February 18 2014

On December 3, 2013, China has requested for a consultation with the United States of America for certain methodologies in 13 anti-dumping measures imposed by USDOC against China (DS471).

R’BIting Bitcoins

January 29 2014

Currencies across the globe need to have universal application and acceptability and have been given sovereign validity, sanctity by the respective countries that issue them. Each country issues its own unique currency that is valid within its territory.

Regulatory Laws

The Real Estate Bill - An Overview

January 29 2014

The real estate sector in India, despite its large size and numerous players still remains outside regulatory purview and discipline and continues to be in the unorganized sector. One sided contracts in favor of the builder, large cash transactions, lack of standardization and quality and delay in delivery of completed projects continue to plague this unorganized sector.

Intellectual Property Rights

Delhi High Court rules on disparagement of trademark

January 16 2014

A Division Bench of the Delhi High Court in a recent decision dated 10-12-2013 held that the television commercial which compares the product ‘Pepsodent Germicheck’ with ‘Colgate ST’ is not per se disparaging.

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