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January 2016

Corporate Amicus: October 2015

First article in this issue of Corporate Amicus discusses legitimacy of levy of seigniorage fee on consumers and the ambiguity in the calculation of the same. According to the author, there is a need to maintain a common measure to avoid confusion and injustice caused to subsequent consumers at times who purchase in bulk. Second article in this issue attempts to find the legality of ‘fantasy sports’ on online platforms wherein money can be made by betting on players/teams, and to draw a bridge between online games and ‘games of mere skill’.

Notifications and Circulars portion of this Amicus, covers amendments in the Limited Liability Partnership Rules, 2009 wherein the Ministry of Corporate Affairs has done away with the filing of Form 14 in case of conversion to LLP from private company and unlisted public company. SEBI has specified format of Listing Agreement and that for compliance report on corporate governance.

Ratio decidendi part includes recent decision of the Punjab & Haryana High Court holding that it is open to parties to refer the issue of blacklisting to arbitration. Supreme Court of India has upheld the existence of an arbitration agreement in the Memorandum of Understanding between the parties even when there was failure of the parties to reach a full-fledged agreement with respect to the various terms and conditions contained in the MoU for a joint venture. Further, according to the latest Order of Competition Commission of India (CCI), though there were vertical restraints imposed by the manufacturer on its distributors but there was no adverse effect on competition in the market inasmuch as analysis of the balance between the positive and the negative factors listed under Section 19(3)(a)-(f) has to be done. Readers may go through the issue to read about these orders.

 

October, 2015/Issue-50 October, 2015/Issue-50

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