Authors Posts by Obhan&Associates

Obhan&Associates

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Relaxation of end-use norms for External Commercial Borrowings by Corporates and NBFCs

External Commercial Borrowings (ECBs) are commercial loans raised by eligible resident entities from recognised non-resident entities which should always conform to the parameters prescribed by Reserve Bank of India (RBI) such as minimum maturity, permitted and non-permitted end-uses, maximum all-in-cost ceiling etc.The ECB framework is governed by the regulations of the RBI framed under the Foreign Exchange Management Act, 1999 ("FEMA"), and the Master Direction – External Commercial Borrowings, Trade Credits and Structured Obligations (the "MasterDirection").

Tracing the history of sedition in India

On July 03, 2019, the Ministry of Home Affairs through a written statement informed the Rajya Sabha that the present Government has no plans on amending the laws on sedition in the country so as to ensure that the Government has effective means to combat anti-national, secessionist and terrorist elements. In an election, where national security was a huge factor for the political parties, a stance that was taken by certain political parties was that they would like to amend the present sedition laws in our country[1], whereas, the ruling party’s stand was that they would like to toughen the existing sedition laws.[2]

Differential Voting Rights for Listed Companies in India

In recent years, there has been increasing clamour and debate around implementing a framework for enabling issuance of shares with Differential Voting Rights (“DVRs”) where listed companies are concerned. In a move that is bound to significantly change the way certain transactions are structured, the Securities and Exchange Board of India (“SEBI”) approved the Framework for Issuance of Differential Voting Rights Shares (“Framework”) on June 27, 2019.

Protecting pseudonymous works

The works of writers like Enid Blyton, George Eliot, Premchand, and Saki, have come to be embedded in our minds for generations, such as. We associate these names with canonical literature, but sometimes forget that these were not the authors’ real names. They were, in fact, pseudonyms, or pen names, adopted by their owners. The motivation for adopting a pseudonym for a creative work is not always clear, and can include a wish to create a separate identity from one’s real life persona. Whatever be the reason, the manner of protecting copyright in pseudonymous works is slightly different from that of a conventional copyright, which is the subject of this piece.

Restrictive Covenants under an Employment Contract

The advent of globalization, technological advancements, transborder transactions, frequent employment shifts and increased competitionbetween businesses have necessitated increased complexity in the relationship between an employer and an employee calling for adetailedemploymentcontract to be executed between both these parties.

Determination of Contract Workers as Direct Employees: Two Prong Test Laid Down by the Sup...

In India, contract labourers are protected by the Contract Labour (Regulation and Abolition Act), 1970. A contract labourer is defined as one who is hired in connection with the work of an establishment by a principal employer through a contractor. While a contractor is the supplier of contract labour for the organization, a principal employer is the person responsible for the control of the establishment.

Foreign Liabilities and Assets Information Reporting

The Reserve Bank of India (RBI) vide a 2012 circular, stipulated that Indian companies which have received FDI and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year, should file the annual return on Foreign Liabilities and Assets (FLA) in the soft form which can be duly filled-in, validated and sent by e-mail to the Reserve Bank by July 15 of every year. The coverage was enhanced to reporting of inward and outward foreign affiliate trade statistics (FATS) and reporting by the limited liability partnerships (LLPs) through the subsequent circulars.

Streaming and other internet broadcasting services to be covered by copyright statutory li...

In response to the dramatic changes brought about in content sharing and broadcasting through technological advancements in the digital era, the Department for Promotion of Industry and Internal Trade, Government of India (DPIIT) has proposed to amend the Copyright Rules. The draft rules are the latest in a long series of regulatory action taken by the government to address the entry of internet streaming services into the Indian market.

Remedies to an Unstamped Arbitration Agreement

The theory of separability for arbitration agreements has been developed over time. It has been well recognized in India and other jurisdictions that an arbitration clause in a contract is an agreement independent of the contract executed between the parties. This theory of separability of an arbitration agreement has well elucidated by the Supreme Court of India in the case of M/S Sms Tea Estates P.Ltd v. M/S Chandmari Tea Co. P.Ltd