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News & Briefings

The latest updates on relevant areas of law, curated by our team to be the most useful to clients as well as fellow legal practitioners.

News

No infringement on selling of replacement parts of complex product: CJEU

January 04 2018

The Court of Justice of the European Union (CJEU) has rejected the contention of various car manufacturers that Article 110(1) of the EU Regulation No. 6/2002 would not cover alloy car wheel rims.

IRDAI (Investment by PE Funds in Indian Insurance Companies) Guidelines

January 03 2018

IRDAI has issued certain guidelines with respect to investment in insurance companies either as an investor or as a promoter. These Guidelines provide clarity as they set out a regulatory framework that will now apply, and which will enable increased flow of Foreign Direct Investment into the country and will also unleash a new era for formation of new-age insurance companies that will lead to deeper penetration and growth of the insurance industry.

Highlights of 11th Ministerial Conference held in Buenos Aires

January 02 2018

The 11th Ministerial Conference (“MC’11”) was flagged off on 10 December, 2017 at Buenos Aires, Argentina. MC’11 has been held at a time when the Trade Facilitation Agreement has entered into force mandating (for the first time ever) a revision of the WTO Rule Book, the WTO Members have eliminated agricultural export subsidies, adopted measures to support LDCs (especially with respect to cotton trade) and expanded the Information Technology Agreement to eliminate substantial tariffs on trade.

Trademark – Prefix ‘’Bookmy’’ descriptive in nature for online booking services

December 27 2017

The plaintiff, registered proprietor of word mark and logos BOOKMYSHOW, was seeking permanent injunction against defendant from using in any manner mark BOOKMYSPORTS, of using prefix BOOKMY.

Trademarks Act does not contemplate permission of civil court to override other provisions for filing of rectification application

December 27 2017

The Supreme Court examined the various sections under the Trade & Merchandise Marks Act 1958 and Trademarks Act, 1999 to determine whether a person could resort to rectification proceedings before the statutory authorities (Registrar/IPAB) even in a situation where infringement proceedings had been instituted and the plea of validity of registration has not been taken or in case not taken up within the time limit specified.

Copyright of producer in cinematograph film includes dubbing rights

December 27 2017

The author of the script for a cinematograph film sought permanent injunction against the producer of the movie in Tamil language, from dubbing the film in Telugu language. The appellant-author claimed that he held the copyright in the script and had only permitted the producer to make the film in one language.  

Non-receipt of royalty from overseas subsidiary can be subject to TP adjustment

December 27 2017

The petitioner was aggrieved by the addition of royalty income in the year it had ceased to receive royalty from its subsidiary.

Income on cessation of liability arises if no consideration passes to creditor for the same

December 27 2017

The department sought to tax the sum of share application money which was adjusted against sums due to the assessee as income from cessation of liability.

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017

December 06 2017

The President of India, on 23rd November, 2017 [Notification No. DL- (N)04/0007/2003-17], promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017, which amends the existing Insolvency and Bankruptcy Code, 2016 (IBC), in order to strengthen the insolvency resolution process.

SEBI (International Financial Services Centres) Guidelines, 2015 – Amendments

December 06 2017

In its Circular dated November 14, 2017 (“Circular”), SEBI has amended the guidelines for International Financial Services Centres (“IFSC”) wherein SEBI has introduced an amended definition of an ‘Issuer’  in the SEBI (IFSC) Guidelines, 2015 (“Guidelines”).

Contract – SC rules on when express term can be implied

December 06 2017

The Supreme Court has held that a contract should be interpreted in accordance with the terms expressly provided in its agreement. A term can only be implied to be present in the contract if it is necessary to give efficacy to the business transaction. 

Counter-guarantee is an independent contract, separate from its underlying contract

December 06 2017

The High Court of Delhi has held that a counter-guarantee is an independent contract, separate from its underlying contract.

Exemption based on location of unit – Some recent developments

December 05 2017

In some of the recent developments in respect of units which were earlier availing exemption under various area-based exemption schemes, CBEC has prescribed procedure for manual filing of refund under new budgetary support scheme under the GST regime, while Supreme Court of India has allowed exemption (refund) of Education Cess also under the erstwhile Central Excise notifications.

Export of service – SMS aggregator service to foreign company within India

December 05 2017

CESTAT Mumbai has allowed refund of unutilised Cenvat credit when SMS aggregator service was provided by the assessee to foreign company (Facebook) for its subscribers in India.

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