PRE-PACKAGED INSOLVENCY FOR MSMES

On April 4th, 2021, the Insolvency and Bankruptcy Board of India (“IBBI”) notified the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (“Ordinance”) that introduces the Pre-packaged Insolvency Resolution Process (“PPIRP”) for micro, small and medium entities (“MSMEs”). The Ordinance comes into effect from April 4th, 2021. ...
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Useful info for securing IP rights in India

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Startups and small entities in India to reap benefits under new Design Rules

India’s newest amendments to its Design Rules will hugely benefit startups and small entities seeking to obtain design registrations. The amended Design Rules now recognize “Startups” as a separate category of applicants and have reduced the overall filing and prosecution fees for small entities. ...

India formally adopts Locarno Classification for Designs

Six months after it became a signatory to the Locarno Agreement (which establishes a classification for industrial designs), on 25 January 2021, India notified the Design (Amendment) Rules, 2021 to formally adopt the “Locarno Classification”. ...
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One of the first questions that comes to the mind of an artist or a creator, as soon as a work is created, is how can the work be protected. Is protection available only if the work is “registered”, or does protection follow automatically from the time of its creation? The issue of whether copyright registration is compulsory or not is a long standing one; and due to various conflicting judgements in India, artists and creators have always been uncertain about this matter. ...
In a recent judgment delivered by the Supreme Court of India ("Court") in Laxmi Pat Surana vs. Union Bank of India & Anr. , the Court has held that the principal borrower need not be a ‘corporate person’ for insolvency process to be initiated against a company which stood as its guarantor, under the Insolvency and Bankruptcy Code, 2016 ("IBC"). ...
The Supreme Court of India, recently, in the case of Tata Motors Limited vs. Antonio Paulo Vaz & Anr . held that when the relationship between a car manufacturer and a dealer is on a principal-to-principal basis, the former cannot be saddled with liability arising from the actions of the latter that led to sale of a defective car, unless the car manufacturer’s knowledge about such defects can be proved. ...
Recently, the Supreme Court in the decision of Arun Kumar Jagatramka v. Jindal Steel and Power Ltd. & Anr (“Arun Kumar Decision”) examined the interplay between liquidation proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”) and Section 230 of the Companies Act, 2013 (“Act”). The issue before the Supreme Court was to decide whether a person ineligible to submit resolution plan under Section 29A of the IBC is barred from proposing a scheme under Section 230 of the Act. ...
Licensing and franchising intellectual property (IP) offer strategic competitive advantages to a brand. Franchising is a situation where a franchisor controls and supervises the exploitation of a trademark while allowing the use of the tradename, the get up and the reputation and goodwill associated with the trademark. ...
On March 10, 2021, the Arbitration and Conciliation (Amendment) Act, 2021 ("Amendment Act") gained Parliamentary assent and is deemed to have come into force on November 04, 2020, thereby replacing the Arbitration and Conciliation (Amendment) Ordinance, 2020 promulgated by the President of India on November 04, 2020, which we wrote on here. As elucidated upon in the statement of objects and reasons, the Amendment Act has sought to address the issue of corrupt practices in securing contracts or arbitral awards. ...
In a recent judgment delivered by the Supreme Court of India ("Supreme Court") in the case of P. Mohanraj & Ors. Vs. M/S Shah Brothers Ispat Pvt. Ltd , it has been held that the declaration of a moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 ("IBC") covers criminal proceedings for dishonour of cheque under Section 138 of the Negotiable Instruments Act, 1881 ("NI Act"). In doing so, the Supreme Court has widened and settled the scope of the applicability of Section 14 of the IBC. ...
The Government of India, in supersession of the Information Technology (Intermediary Guidelines) Rules, 2011, has notified the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 (hereinafter referred to as the "Rules") under the Information Technology Act, 2000 ("IT Act") on February 25, 2021. ...
There are several ways in which evidence can be gathered in intellectual property (IP) suits, including through discoveries and cross examinations. Discovery takes place pre-trial, where parties can exchange information regarding the evidence and witnesses to be presented to the court. ...
The Government of India in supersession of the Information Technology (Intermediary Guidelines) Rules, 2011, has notified the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 (hereinafter referred to as the “Rules”) under the Information Technology Act, 2000 (“IT Act”) on February 25, 2021. ...
On February 25th, 2021, Union Law & IT Minister of India said “There should not be double standards. If an attack is there at Capitol Hill (US Congress), then social media supports police action. But if there is an aggressive attack at Red Fort, the symbol of India’s freedom where the Prime Minister hoists the national flag, you have double standards. ...
The Supreme Court, recently, in the case of Phoenix Arc Private Limited v. Spade Financial Services Limited, held that the intent of Sec. 21 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) will be defeated if related parties are just determined “in presaenti” i.e., on the present basis. ...
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