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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

Implied exclusion of Indian laws under an arbitration agreement

March 19 2015

The agreement stipulated that the contract is to be governed and construed according to the English law in the arbitration clause. No other clause stating the applicable law was included in the agreement.

Loans and advances by company to employees clarified

March 19 2015

The Ministry of Corporate Affairs has clarified that loans or advances made by the companies to their employees, other than to the managing or whole time directors (which is governed by Section 185) are not governed by the requirements of Section 186 of the Companies Act, 2013.

Budget 2015 – Penalty provisions relaxed in Excise and Customs

March 01 2015

Finance Bill 2015 introduced in the Lok Sabha (Lower House of the Indian Parliament) today on 28-2-2015, has proposed certain relaxations in respect of penalty provisions under Central Excise and Customs Laws.

Budget 2015 - Major changes proposed in Direct Tax

March 01 2015

The Finance Minister presented the Finance Bill, 2015 today. While no major relief has been announced on personal taxation, corporate taxes are proposed to be rationalised in a phased manner to bring down the rate of taxation

Validity of trademark can be questioned in infringement suit

January 22 2015

Court can go into the question of validity of registration of the plaintiff's trade mark at an interlocutory stage when the defendant takes up the defence of invalidity of the said registration in an infringement suit.

No wish to infringe

January 22 2015

The new year witnessed, aptly perhaps, a decision on trademark infringement proceedings which was triggered by exchange of a Christmas card between the general counsels of the opposing parties.

SEZ – Dual use of infrastructure permitted in non-processing area

January 20 2015

Ministry of Commerce and Industry has allowed dual use of non-processing area in the Special Economic Zones with effect from 2-1-2015.

New Insider Trading Regulations notified

January 20 2015

Securities and Exchange Board of India has notified new set of regulations, to put in place a framework for prohibition of insider trading in securities.

Status of secured creditor not alters unless charge explicitly extinguished

January 20 2015

The Supreme Court of India has, on 9-1-2015, held that a charge created under Section 125 of Companies Act, 1956 shall not be extinguished unless the arbitration award does not explicitly say so.

Director’s liability – ‘Alter ego’ and attribution of acts of companies

January 20 2015

The Supreme Court of India has, on 9-1-2015, held that when the company is the offender, vicarious liability of the Directors cannot be imputed automatically, in the absence of any statutory provision to this effect.

Major relief for exporters and importers by CBEC

January 14 2015

Central Board of Excise and Customs has last month given some major relief to Indian exporters and importers in terms of procedures to be followed while making imports and exports.

Sale of used motor vehicles – Exemption under Delhi VAT

January 14 2015

Sale consideration received on resale of used motor vehicle to third parties by dealers of different commodities is not includible in the taxable turnover for attracting liability under Delhi VAT provisions if conditions of Section 6(3) of DVAT Act are satisfied.

India set to introduce GST

December 23 2014

India took its first major step on GST when the 122nd Constitutional Amendment Bill, 2014 was introduced in Lok Sabha (House of People) on 19-12-2014.

Export of patented product for conducting studies, permitted

December 22 2014

Bombay High Court has held that sale even outside India would fall within the sweep of Section 107A of the Patents Act, 1970 providing for no infringement in certain cases, if it is reasonably related to development and submission of information as required under a law in force in India or outside India.

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