Tag Archives: India

ILN Today Post
July 28, 2020

E-COMMERCE ENTITIES IN INDIA – APPLICABLE REGULATIONS

By LexCounsel Law Offices

The Ministry of Consumer Affairs, Food and Public Distribution through the Department of Consumer Affairs has issued the Consumer Protection (E-Commerce) Rules, 2020 under the Consumer Protection Act, 2019 vide notification bearing number G.S.R. 462(E) on July 23, 2020 (“E-Commerce Rules”) to regulate the operations of e-commerce entities in India in a fair and transparent manner and to protect the rights and interest of consumers. The gazette copy of the E-Commerce Rules can be accessed here [http://egazette.nic.in/WriteReadData/2020/220661.pdf].

Posted in Asia Pacific | Legal Updates
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ILN Today Post
June 18, 2020

Negotiation/Settlement of Lockdown Wages is a Way Forward Holds Supreme Court

By LexCounsel Law Offices

Non-payment or substantial reduction of wages for the period the Indian industry was closed or operating at limited capacity due to COVID-19 despite the Central Government’s order to continue paying wages to workmen during the lockdown period has led to filing of several petitions before the Hon’ble Supreme Court of India.  In  the matter of Ficus Pax Private Ltd. & Ors. Vs. Union of India & Ors. [Writ Petition (C) Diary No. 10983 of 2020] (clubbed with various writ petitions), the Supreme Court has issued interim measures aimed at negotiating and settling the wages to be paid by employers to its employees for the lockdown period pursuant to the order dated March 29, 2020 (“MHA Wage Order”) issued by the Ministry of Home Affairs (“MHA”) in exercise of its powers under Section 10(2)(l) of the Disaster Management Act, 2005 (“DM Act”) and its subsequent withdrawal vide MHA’s order dated May 17, 2020 with effect from May 18, 2020. The settlement, if any, will be without prejudice to the rights of the employers/employees which is the subject of adjudication of the aforesaid petitions.

Posted in Labor & Employment
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ILN Today Post
June 15, 2020

INSIGHT INTO THE BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS IN INDIA

By Ahlawat & Associates

INTRODUCTION

The Insolvency and Bankruptcy Code, 2016 (“Code”), ever since its introduction, has replaced India’s archaic bankruptcy laws and has paved way for a much speedier resolution of insolvency proceedings and debt restructuring, benefiting operational and financial creditors, both onshore and offshore in India. The code is still in its initial years and dynamic in nature, as the Government of India keeps introducing new amendments as per the evolving and challenging circumstances of the nation.

Posted in Asia Pacific | Legal Updates
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ILN Today Post
June 1, 2020

MSME definition further revised by Union Cabinet

By Ahlawat & Associates
Subsequent to the revisions made in the definition of MSMEs during the INR 20 lakh crores economic package announcement made in May 2020, the government on Monday i.e. 01st June 2020 further revised the definition of MSMEs.
From now on, enterprises with investments up to INR 50 crore with a turnover of less than INR 250 crore will now be defined as ‘medium’ units. Whereas under the economic stimulus package, the revised definition for medium enterprises was kept at a turnover of INR 100 crore and investment up to INR 20 crores. Below is the tabular representation of the definition of MSMEs classification:
Micro Enterprises
Enterprises with an investment less than INR 1 crore and turnover less than INR 5 crore turnover
Small Enterprises
Enterprises with an investment less than INR 10 crore and turnover less than INR 50 crore turnover
Medium Enterprises
Enterprises with an investment less than INR 50 crore and turnover less than INR 250 crore turnover
Posted in Asia Pacific | Legal Updates
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ILN Today Post
May 26, 2020

CAN SUSUPENSION OF RENT DUE TO LOCKDOWN BE CLAIMED BY A LESSEE?

By LexCounsel Law Offices

Judgment: Ramanand & Ors. Vs. Dr. Girish Soni & Anr. [CM APPL. 10847/2020]

Forum: Hon’ble High Court of Delhi (“DHC”)

Judgment delivered on: May 21, 2020

Act/Law: Indian Contract Act, 1872 (“ICA”) and Transfer of Property Act, 1882 (“TPA”)

Posted in Real Estate
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ILN Today Post
May 20, 2020

Changes in MSME Act under Economic Package announced by Union FM

By Ahlawat & Associates

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following changes in the MSME sector to promote the motto of Self Reliant India and boost the economic status of the Country.

Posted in Uncategorized
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ILN Today Post
May 18, 2020

ECONOMIC RELIEF PACKAGE UPDATE

By LexCounsel Law Offices

To uplift the economic gloom, the Government has laid out a detailed road map towards building a self-reliant India (Aatma Nirbhar Baharat Abhiyan), with five key pillars identified as Economy, Infrastructure, System, Vibrant Demography and Demand (refer our newsletter of May 14, 2020 at https://lexcounsel.in/wp-content/uploads/2020/05/Newsletter-May-14-2020.pdf). As part of the package, the Finance Minister of India unveiled the first tranche of the economic relief package on May 13, 2020. Under the first tranche of the economic relief package, the Ministry of Finance has focused on Micro, Small and Medium Enterprises (“MSME”), Non-Banking Financial Companies (“NBFC”), Housing Finance Companies (“HFC”) and Micro Finance Institutions (“MFI’), DISCOM’s and Real Estate.

Posted in Public Law
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ILN Today Post
May 18, 2020

MHA withdraws Order Requiring Compulsory Payment of Wages

By LexCounsel Law Offices

The National Disaster Management Authority vide its order dated May 17, 2020 has extended the lockdown till May 31, 2020 but with limited restrictions. Concurrently, the National Executive Committee, Ministry of Home Affairs (“MHA”) vide its order dated May 17, 2020 (“MHA Order”), in exercise of its powers under the Disaster Management Act, 2005, also issued directions and guidelines for implementation of the lockdown measures.

Posted in Public Law
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ILN Today Post
May 14, 2020

ECONOMIC RELIEF PACKAGE AND CREDIT SUPPORT FOR BUSINESSES

By LexCounsel Law Offices

The Indian economy is currently reeling under a huge setback during the ongoing nationwide lockdown necessitated by the spread of COVID-19 pandemic. To uplift the economic gloom, the Government has laid out a road map towards building a self-reliant India (Aatma Nirbhar Baharat Abhiyan), with five key pillars identified as Economy, Infrastructure, System, Vibrant Demography and Demand. To stimulate the country towards self-reliance, the government has announced a special economic and comprehensive package of INR 20 Lakh Crores which is equivalent to 10% of Indian’s GDP.

Posted in Uncategorized
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ILN Today Post
May 13, 2020

Highlights of speech by Union Finance Minister

By Ahlawat & Associates

A day after Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, today the Union Finance Minister Nirmala Sitharaman addressed a press conference in New Delhi thereby elaborating the Government’s plans in achieving the aim of self-reliant India.

Posted in Uncategorized
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