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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

FDI in pension sector - Foreign Exchange Management Provisions, amended

December 09 2016

Pursuant to an amendment to the Consolidated Foreign Direct Investment Policy in June 2016, the Reserve Bank of India, by its Notification dated November 04, 2016, has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 as applicable to the pension sector in India.

Foreign Direct Investment (FDI) in Non-banking Finance Companies

November 07 2016

The Reserve Bank of India by its Notification dated September 9, 2016, amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000.

‘Trust Deed’ just like ‘Will’ is not an arbitration agreement

November 07 2016

Supreme Court of India on 17-8-2016 has held that ‘Trust Deed’, which provides for resolving the disputes arising between the  beneficiaries of the Trust through arbitration, does not constitutes an ‘agreement’ much less an “arbitration agreement” within the meaning of Section 2(b) and 2(h) read with Section 7 of the Arbitration and Conciliation Act, 1996.

Conversion of shares and increase of authorized share capital, when illegal

November 07 2016

In the present petition before the Supreme Court, the contention of the respondents (“Sanwalka Group”) was that the company had come under the control of the appellants (“Gupta Group”) by various actions and omissions.

New All Industry Rates of Drawback notified

November 04 2016

Central Board of Excise and Customs (CBEC) has notified new All Industry Rates (AIR) of Duty Drawback which are effective from 23-11-2015, i.e. will be applicable on exports made from 23rd of November 2015.

New All Industry Rates of Drawback notified

November 04 2016

Indian Ministry of Finance has revised the All Industry Rates (AIR) of Drawback, payable to the exporters by the Revenue department to neutralize various duties suffered by the former in respect of goods exported.

AEOs allowed to pay Customs duties on fortnightly basis

November 04 2016

Customs duties payable on import of goods in India can now be paid on fortnightly basis by specified Authorised Economic Operators - importers.

Companies (Mediation and Conciliation) Rules, 2016 notified

October 08 2016

The Ministry of Corporate Affairs vide its Notification dated 9 September, 2016 has notified the Companies (Mediation and Conciliation) Rules, 2016 (“Rules”).

Recovery of arrears when a company is no longer a ‘sick’ company

October 08 2016

The Hon’ble Supreme Court of India, recently pronounced a judgement on a very interesting issue regarding recovery of arrears when a company is no longer a ‘sick’ company.

Arbitration – Scope of enquiry under Section 45 to not include enquiry of legality and validity of substantive contract

October 08 2016

The Hon’ble Supreme Court of India in its case of Sasan Power Limited v. North American Coal Corporation India Private Limited on 24 -8-2016 has held that the scope of enquiry under  Section 45 of the Arbitration and Conciliation Act, 1996, is confined only to the question – whether the arbitration agreement is “null and void, inoperative or incapable of being performed” and not on the legality and validity of the substantive contract.

Trademarks – Not every domain name entitled to trademark protection

October 07 2016

Bombay High Court has refused to grant an interim injunction in a suit for trademark infringement and passing off in favour of the plaintiff, who is the registered proprietor of the mark and domain name “shaadi.com”.

Trademarks – Opposition or non-grant of trademark registration immaterial in case of passing off

October 07 2016

Delhi High Court on 16-9-2016 has made absolute the interim injunction granted by it to restrain the defendant from copyright infringement in the trade label along with a device and for passing off its trademark with device of “Taj Mahal” used on the rice.

Copyrights – Photocopying of portion of book when is not infringement

October 07 2016

Delhi High Court on 16-9-2016 has held that action of the University (defendant) of making a master photocopy of the relevant portions of the books purchased by it and keeping in its library,  making further photocopies out of the said master copy and distributing the same to the students does not constitute infringement of copyright in the said books.

Copyright of author in a song and sound recording, prior to 2012 amendment

October 07 2016

The Supreme Court on 20-9-2016 has held that prior to the amendment in 2012, to the Copyright Act, 1957 the author of copyright in a work (song) could not claim royalty for further exploitation of derivative work (sound recording).

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