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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

Listing date crucial in determining exemption from open offer obligations

May 16 2017

It is irrelevant whether the same promoters were holding the same shares for over a long period either in the target company or in the parent company or both, prior to listing the target company.

Existence of “dispute” in terms of Insolvency Code bars initiation of insolvency process

May 16 2017

The definition of the word “dispute” is not exhaustive but illustrative. A corporate debtor has the right to reject a demand on any sustainable ground other than showing a pending suit, arbitration proceeding or the breach of representation or warranty. The sustainability of such grounds shall depen

FEMA violation not a valid defence against enforcement of foreign arbitral award

May 16 2017

A petition was filed before the High Court of Delhi, by the Petitioner in the instant case, Cruz City 1 Mauritius Holdings (Cruz City), a company incorporated under the laws of Mauritius, to enforce an arbitral award rendered under the London Court of International Arbitration Rules (Award), with respect to a dispute arising under a ‘Keepwell Agreement’ dated 06.06.2008

GST Bills get President’s assent

April 27 2017

President of India has granted his assent to the 4 GST Bills - Central Goods and Services Tax Bill (CGST Bill), Integrated GST Bill, UT GST Bill and the GST Compensation Bill, on 12th of April, 2017.

GST Bills introduced in Indian Parliament

March 28 2017

Central Goods and Services Tax Bill (CGST Bill), Integrated Goods and Services Tax Bill (IGST Bill), Union Territory Goods and Services Tax Bill and Goods and Services Tax (Compensation to States) Bill, 2017 have been introduced in the Lok Sabha (lower house of the Indian Parliament) yesterday (27 March, 2017).

The Trademark & Corporate name conundrum

March 21 2017

Before the Full Bench of High Court of Bombay, in the case of Cipla Limited v. M/s Cipla Industries Pvt. Ltd.

Bolar exemption permits exports of patented invention

March 21 2017

By Judgment & order dated March 08, 2017, a Single Judge of the Delhi High Court interpreted the exemption to infringement under Section 107A of the Patents Act, 1970 (Act) to hold that said exemption permits exports from India of a patented invention solely for uses reasonably related to the development and submission of information required under any law for the time being in force, in India or in a country other than India, that regulates the manufacture, construction, use, sale or import of

Goods used in process of service are integral to execution of service contract

March 21 2017

The issue before the Division Bench of the Delhi High Court was whether chemicals/ solvents used in the process of cleaning amounts to transfer of property in goods between the contractor and the contractee and thus exigible to tax.

Voice Tab classifiable as telephone

March 21 2017

The issue for consideration was whether a Voice Tab named by the assessee as ‘HP Slate 6” Voice Tab’ is classifiable under CTH 8471 as an automatic data processing machine or under CTH 8517 as telephone for cellular network. 

Franchise service - Whether right conferred is a representational right, to be established

March 21 2017

Delhi High Court has held that merely because by an agreement, a right is conferred on a party to sell or manufacture goods or provide services or undertake a process, it would not ipso facto bring the agreement within the ambit of a franchise.

‘Manufacture’ under Central Excise law

March 21 2017

Customs, Excise and Service Tax Appellate Tribunal (CESTAT) recently delivered few decisions on one of the oldest questions in Central Excise law – whether a process amounts to ‘manufacture’.

Development Authority is not “local authority” – Income not exempt

March 09 2017

In a recent judgment, Delhi High Court has held that bi-annual or annual payments, being capital payments for a limited/specific period towards acquisition of lease hold rights, are not subject to TDS.

Voluntary liquidation process - Draft Regulations issued

March 07 2017

On February 14, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has published draft Regulations applicable to the voluntary liquidation of corporate persons under Part II of the Insolvency and Bankruptcy Code, 2016 (IBC).

Integrated Reporting by listed entities

March 07 2017

Currently, SEBI mandates the top 500 listed entities in India (based on market capitalization calculated as on March 31 of every financial year) to prepare a business responsibility report describing initiatives taken from an environmental, social and governance perspective (in accordance with Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015).

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