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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

Corporate Insolvency Resolution Process – NCLT clarifies scope of ‘operational debt’

June 08 2017

The National Company Law Tribunal (NCLT) has passed an order on dated 31-3-2017 interpreting the definitions of ‘operational creditor’ and ‘operational debt’ under the Insolvency and Bankruptcy Code, 2016 (Code).

Pendency of winding up petition when not bars initiation of corporate insolvency process

June 08 2017

If a notice for winding-up is served to the corporate debtor/respondent company or if the application for winding-up is pending before the High Court and no order has been passed as on date: an application under Insolvency Bankruptcy Code, 2016 (IBC) can be filed with the National Company Law Tribunal (NCLT) without any leave from the High Court.

Corporate insolvency proceedings can be initiated for dishonour of post-dated cheques

June 08 2017

Issuance of post-dated cheques to any person will amount to acknowledgement of legally enforceable liability;

Reimbursement of salary not FTS under India-UK DTAA

May 30 2017

The assessee paid a sum towards salary expenditure to employees deputed for providing assistance in management, setting up of business and so on.

Draft ICDS in respect of real-estate transaction

May 30 2017

In exercise of powers conferred in section 145(2) of Income-tax Act, 1961, Central Government had notified Income Computation and Disclosure Standards (‘ICDS’) vide Notification No. 87/2016 dated 29th September 2016.

Trademark infringement – Similarity of marks to be considered first

May 26 2017

Observing that the marks FERANTA and INTAS’ FERINTAS are sufficiently distinguishable and does not satisfy Section 29(2)(b) of the Trade Marks Act, a Single Judge of the Bombay High Court has refused to grant an interim injunction in favour of the Plaintiffs in a trademark infringement and passing off suit.

Trademarks – German origin word which is not indicative of business, is not generic

May 26 2017

Taking note of the fact that plaintiff had acquired a distinctive reputation and goodwill of its own under the trade names “ASIAN HAUS” and “SUSHI HAUS” for its food delivery outlets, Delhi High Court has restrained the defendants by an interim injunction from using the name “HAUS” for latter’s food delivery outlets in the name of “Curry Haus”.

Patents – Correction under Section 78

May 26 2017

Delhi High Court has set aside the ‘deemed to be withdrawn’ status of a patent application and restored the Indian National Phase application.

Vacation of interim injunction on basis of non-binding undertaking, not correct

May 26 2017

A Division Bench of the Delhi High Court on 12 April 2017 has set aside the decision of the Single Judge Bench wherein the latter had vacated the earlier ex-parte interim injunction granted in favour of the Plaintiffs in a designs infringement case.

ITC on goods used in construction of silos, available

May 25 2017

Allahabad High Court has upheld the view of the Tribunal that input tax credit on MS Sheets utilized for construction of silo is available.

Valuation – Rejection of value when not sustainable

May 25 2017

Finding the reasons such as the importer had used the name of another firm to avoid sales tax, imports were made from trader and not from manufacturer, and the value declared was even less than the value of steel scrap, as not relatable to value of goods, CESTAT Delhi has allowed the appeal of the importer.

GST rates and 7 Rules approved by GST Council

May 25 2017

Schedule containing rates of GST for both goods and services and the revised draft of 7 procedural GST Rules have been placed by the CBEC in public domain.

Manufacture – Cutting of old tyres to produce pieces is not manufacture

May 25 2017

Larger Bench of the Delhi High Court has answered in negative the question as to whether the process to which used and old tyres are subjected to produce two or more pieces of cut tyres is ‘manufacture’ within the meaning of Section 2(f) of the Central Excise Act, 1944.

Design – Each component of design need not be tested for originality and novelty

May 16 2017

The plaintiff, a manufacturer of plastic insulated products claimed infringement of the registered design of its water bottle ‘PURO’ with a two-tone colour scheme, flip top and unique surface pattern and that the ‘Kudoz’ bottles sold by the defendant would mislead the public into thinking they were products of the plaintiff.

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