March 8, 2017
In a significant development to improve India’s intellectual property regime, rules for registering trademarks have been simplified. This is a step in the right direction as it would boost the ease of doing business.
Now you can register trade mark as “Well Known” and Save potential litigation cost. The registration fee of Rs 1 lakh is insignificant if compared to the savings in potential litigation costs.
March 6, 2017
The Foreigner’s Act, 1946, The Registration of Foreigners Act, 1939 and The Citizenship Act, 1955, together with allied rules and periodic amendments regulate the foreigner’s entry, along with the immigration policy, movement and stay in India. Most foreign nationals entering India require a valid passport along with an appropriate visa depending on the motive of visit to India. Visa can be issued for the following purposes.
Business Visa: An individual seeking to travel to India on business should obtain a Business Visa. The validity of a business visa can range from 6 months to 10 years. Individuals who seek to establish a business in India may be eligible for a business visa, which is usually issued with a longer validity period (a long term visa). A business visa application should include supporting documents from the sponsoring organization(s).
February 2, 2017
(Holding the view in the earlier Kokate Case as incorrect, the Division Bench of the Bombay High Court has clarified the position of law with respect to rights of nominees versus those of successors over shares of a company. The Court has held that nomination does not override the law in relation to testamentary or intestate succession, and vesting under Section 109A (of Companies Act, 1956) does not create a third mode of succession.)
January 17, 2017
Un-amended (Indian) Arbitration Act would continue to apply to challenge and enforcement proceedings concerning awards delivered in arbitrations commenced prior to the amendment. The party challenging such an arbitral award is therefore entitled to an automatic stay on its enforcement without deposit of any money in the court, in keeping with the position prior to the amendment.
January 3, 2017
In furtherance of its commitment to clean energy, India has undertaken the largest renewable energy capacity expansion programme in the world through initiation of various schemes, programmes and policy measures during the last 2 years.
According to the Ministry of New and Renewable Energy (“MNRE”), a capacity addition of 14.30 GW of renewable energy was reported during the last 2½ years under grid connected systems – 5.8 GW from solar, 7.04 GW from wind, 0.53 GW from (small) hydro and 0.93 GW from bio-power. A total of 7.52 GW of grid-connected power generation capacity from renewable energy sources has been added so far this year (January 2016 to October 2016) as stated below:
October 19, 2016
MEDIATION AND CONCILIATION UNDER THE NEW COMPANIES ACT
I. Dispute Resolution under the Companies Act, 2013
The Companies Act, 2013 (“CA 2013”) attempts to modernise the way companies in India are owned and operated, in sync with the practices across the world. In the same spirit, the CA 2013 makes it possible for parties in a dispute before government administrators (such as Regional Director, Registrar of Companies, etc.) or the tribunals formed under the CA 2013, i.e. National Company Law Tribunal or the National Company Law Appellate Tribunal, to request for the dispute to be referred to mediation or conciliation. The process of mediation and conciliation is to be conducted before experts empanelled with the mediation and conciliation panel (“Panel”) under the CA 2013.
September 22, 2016
“The parents construct the child biologically, while the child constructs the parents socially.”
Law Commission of India, Report No. 228, August 2009
Surrogacy, understood universally, as also defined in the Indian National Guidelines for regulation of IVF clinics (“National Guidelines”), means:
“an arrangement in which a woman agrees to carry a pregnancy that is genetically unrelated to her and her husband, with the intention to carry it to term and hand over the child to the genetic parents for whom she is acting as a surrogate”.
September 8, 2016
Execution of valid contracts is a prerequisite to creation of any legally binding rights and obligations among the executing parties. However, before moving on to detailed definitive contract(s), parties often enter into a letter of intent so as to agree and specify upfront the key terms of the proposed transaction. The idea is to identify and address any major commercial issues between the parties, and at the same time demonstrate their commitment to the transaction.
What then is the legal effect of a letter of intent? Executed at a pre-contractual stage, is it a legally binding document or is it only a means to capture and reflect the intention of the parties on the basic structure of the transaction?
August 26, 2016
The Supreme Court of India (“Supreme Court”) has recently laid down in Bunga Daniel Babu v. M/s Sri Vasudeva Constructions (“Case”) that a land owner (“Appellant”) who entered into a Memorandum of Understanding (“MoU”) with a builder (“Respondent”) for development of his land by construction of a multi-story building, will be deemed to be a consumer within the definition of Section 2(1)(d) of the Consumer Protection Act, 1986 (“CPA”) despite the rider inserted by the amendment in 2002 thereto whereby the definition of consumer was amended to exclude from its purview any person who avails services for any commercial purpose.
August 23, 2016
Taxability of income arising out of sale and purchase transactions undertaken internationally has been a matter of debate for long in India. Foreign collaborators and investors have been strongly campaigning for clarity on their tax liabilities under Indian tax regulations for transactions undertaken outside the taxable territories of India.