Authors Posts by Obhan&Associates

Obhan&Associates

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SBO Declarations: A Significant Compliance Challenge

Through an order dated May 6, 2024, the Registrar of Companies (the "RoC") of NCT Delhi and Haryana imposed an order of penalty against Leixir Resources Private Limited ("Company") for non-compliance with the disclosure requirements mandated for significant beneficial ownership under Section 90 of the Companies Act, 2013 (the "Act"). ...

Both Celebrities and Influencers to be liable for Deceptive Advertisements

In today's media-saturated environment, consumers are increasingly susceptible to external influences disseminated through the media, with celebrities often leading the charge in shaping consumer behavior. Whether through social media platforms, traditional advertising channels, or product endorsements, the impact of celebrity-focused advertising extends beyond mere entertainment and impacts consumer decisions. ...

Law Commission proposes a draft Bill on Trade Secrets for India

Trade secrets are a form of intellectual property (IP) that usually refers to some type of commercially valuable data, information or knowhow relating to a business, which is not known to the public and has been subject to reasonable efforts by its owner to keep it secret. ...

RBI Issues Draft Circular for the Regulation of Payment Aggregators

In April 2024, the Reserve Bank of India ("RBI") issued the Draft Circular for the Regulation of Payment Aggregators ("Draft Circular"), in keeping with their pivotal role in the ever-evolving financial services industry. The Draft Circular is slated to update the extant Guidelines on Regulation of Payment Aggregators and Payment Gateways, as issued by the RBI on March 31, 2021 ("Guidelines"). ...

Direct Overseas Listing of Indian Companies

On 24 January 2024, the Ministry of Corporate Affairs and the Ministry of Finance have notified the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024 ("Overseas Listing Rules") and, vide the FEMA (Non-debt Instruments) Amendment Rules, 2024 ("NDI Rules 2024") (jointly the "January 2024 Notifications"), amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 ("NDI Rules") respectively. ...

NDI Amendment Rules: Significant Milestone in Fostering Foreign Investment in the Space Se...

On April 16, 2024, the Ministry of Finance, through the Department of Economic Affairs, notified the Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2024 (the "Amendment"), prescribing new entry routes for foreign investment in activities under the space sector. ...