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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

Dross & skimmings not liable to excise duty – Bombay HC

December 17 2014

Bombay High Court has quashed CESTAT Larger Bench Order which had held that aluminium dross and skimmings are excisable goods in view of the Explanation to Section 2(d) of the Central Excise Act, 1944 which was inserted with effect from 10-5-2008.

FDI in defence sector

December 17 2014

The Department of Industrial Policy and Promotion (DIPP) has provided a list of defence items as finalised by Department of Defence Production, Ministry of Defence and has clarified that items not in the list, and dual use items i.e. items  having military as well as civilian applications, would not require industrial license for defence purposes.

BIFR does not automatically lose jurisdiction once company gets revived

December 17 2014

The Supreme Court of India has held that after a reference is registered by the Board for Industrial and Financial Reconstruction (BIFR), all throughout the subsequent stages, BIFR has complete supervisory control over the affairs of such company till it is revived or the decision to wind up such company is taken.

Land Developer Scheme linking returns to land value appreciation is a ‘Collective Investment Scheme'

December 17 2014

SEBI has held that fund mobilizing activity of a company under the garb of real estate business for sale/purchase, development and maintenance of agricultural land is covered within the parameters of ‘collective investment scheme’ as defined in Section 11AA of the SEBI Act, 1992.

WTO upholds major claims of India in steel dispute appeal

December 11 2014

India achieved a significant victory at the WTO on December 8, 2014,  as the Appellate Body has held that the Countervailing Duty (CVD) measures imposed by the United States against certain Hot Rolled Carbon Steel Flat Products are inconsistent with the provisions of the Agreement on Subsidies and Countervailing Measures (ASCM) of the WTO.

FDI Policy relaxed for construction sector

November 06 2014

The Indian Government has approved amendments to Foreign Direct Investment Policy (FDI) relating to Construction Development Sector.

WTO releases World Trade Report

November 06 2014

The recently released World Trade Report traces the growth of world trade through the world war eras and varying perceptions to protectionism and identifies four main trends which are of current importance -the rise of new economic powers, the spread of global value chains, the growing importance of commodities trade, and the deepening integration and volatility of the world economy.

Patent application when not deemed as abandoned

October 20 2014

Delhi High Court has held that where the applicant of the patent application had responded to the first as well as the second examination report, the application cannot be stated to be abandoned.

Trademark – Delay in action against alleged passing off is fatal

October 20 2014

A proprietor of the trade mark who knowingly watches his competitor grow in the market and takes no action can claim no exclusivity in his own trade mark.

Amendment to trademark application is quasi-judicial function

October 20 2014

Examining whether the function of the Registrar of Trademarks while deciding on amendments to application for trademark is purely administrative or quasi-judicial, the High Court of Delhi held that powers vested in the Registrar by Section 22 of the Trade Marks Act, 1999 were quasi-judicial.

Issue of shares at premium not an international transaction

October 12 2014

To apply provisions of Chapter X of the Income Tax Act, 1961 (the Act), there must be some income chargeable to tax arising from an international transaction.

Pre-deposit provisions in Excise, Customs & Service tax laws clarified

September 16 2014

Central Board of Excise & Customs (CBEC) has clarified today some of the provisions relating to mandatory pre-deposit for filing appeals and refund thereof in case of favorable order, which were brought into force from 6-8-2014 by Finance (No. 2) Act, 2014.

Competition law – Requirement of notice when directing ‘further’ investigation

September 16 2014

Notice before directing further investigation under Section 26(7) of the Competition Act is not required to be given to the person against whom information was provided.

CJEU rules on necessity for originality in a parody

September 05 2014

Exception for use of copyrighted material in parody is the flavour of the season in UK. Since the recommendation in Hargreaves review in 2011, statutory protection for use in parody has been taken up and is likely to come into effect later this year.

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