Corporate Law

Corporate Law

Balancing Defamation and Free Speech Notes for the publ...

In what has been termed a “defamation blitz”, an Indian corporate house has filed at least 28 defamation suits in courts since January 2018, targetting media and publishing houses, journalists, authors and politicians. Four companies under the Reliance Group have filed these suits objecting to content and reportage published about the company’s commercial activities. This is part of a larger trend in India around defamation suits which raises many questions for publishing houses and authors. ...
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Tax Exemptions for Start-ups Notified

In order to catalyse entrepreneurship and let the start-up segment flourish, the Indian government has issued a notification dated February 19, 2019 ("Notification"), which sets out certain tax exemptions available to start-ups under the Income-tax Act, 1961 ("Act")....
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The Companies (Amendment) Ordinance, 2019: Key Highligh...

The Companies (Amendment) Ordinance 2018 ("2018 Ordinance"), issued on November 2, 2018 brought about significant changes to certain provisions of the Companies Act, 2013 ("Act"). The 2018 Ordinance was passed by the Lok Sabha, though could not be taken up by the Rajya Sabha and which was due to expire on January 21, 2019. In order to give continuity to the amendments introduced by the 2018 Ordinance, it was re-promulgated on January 12, 2019 by another ordinance i.e. the Companies Amendment Ordinance 2019 ("Ordinance") on January 12, 2019 with its provisions effective from November 2, 2018....
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Piercing the Corporate Veil – The Companies (Sign...

On 13th June 2018, the Ministry of Corporate Affairs notified Section 90 of the Companies Act, 2013 ("Act") and the Companies (Significant Beneficial Owners) Rules, 2018 ("SBO Rules"). Both aim to make transparent a company’s ownership by tracing the identity of the individuals who ultimately control the company....
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Maternity Benefits to Contractual Employees

In one of its recent decisions, the Kerala High Court ("Court")in Rasitha C.H. vs State of Kerala and Others has reinstated that merely on the basis of being contractual employees, women cannot be deprived of the maternity benefits. The judgement has been propounded by Justice A. Muhamed Mustaque. ...

FDI GUIDELINES FOR E-COMMERCE ENTITIES

On December 26th, 2018 the Department of Industrial Policy and Promotion under the Ministry of Commerce (the "DIPP"),introduced stricter guidelines that govern foreign direct investment ("FDI") in e-commerce firms. The Government through press note 2 (2018) ("Press Note"), provided for guidelines applicable to such e-commerce entities under the consolidated foreign direct investment policy of 2017 (the "FDI Policy"). ...

Stamp Duty on Foreign Arbitral Award

In a recent decision, the Supreme Court of India in M/S Shriram EPC Limited vs Rioglass Solar Sa has ruled that it is not necessary for a foreign arbitral award to be stamped. This judgement has put to rest an issue on which various High Courts of India had given differing opinions. ...

Amendments to the Negotiable Instruments Act

The Negotiable Instruments Act, 1881 ("Act") was implemented with the intention of amending the law related to promissory notes, bills of exchange and cheques. The Act has been amended time and again to ensure and enhance the trust in negotiable instruments. In furtherance to this, an amendment to the Act has been passed by introducing the Negotiable Instruments (Amendment) Bill, 2017 which was given the Presidential assent on the 2nd of August 2018, making the Negotiable Instruments (Amendment) Act, 2018 ("Amendment Act") come into existence. In furtherance to the assent, the Amendment Act has become effective from the 1st of September 2018, after being notified in the official gazette....
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Series on Specific Relief Amendment Bill, 2018 – Part 4...

The Specific Relief (Amendment) Act, 2018 ("Amendment Act") has brought about significant amendments to the Specific Relief Act, 1963 ("Act"), the critical one being that specific performance is now (unless a case falls within the exceptions) the norm instead of a discretionary power with Indian Courts. Our present series of articles focus on the four exceptions to the specific performance rule. In Part 1 of the series we discussed substituted performance, in Part 2 we discussed contracts that involve a continuous duty which cannot be supervised by Courts, in Part 3 we discussed contracts involving personal qualifications and in this Part 4 we shall discuss the fourth exception that has been carved out i.e. contracts that are determinable in nature cannot be specifically enforced....