Corporate Law

Corporate Law

Electric Vehicles ‘In the Fast Lane’ in Ind...

Monday, July 29th, 2019, marked the earliest Earth Overshoot Day that mankind has seen. 209 days into the calendar year and we have used up all the resources the Earth could regenerate in 365 days. Earth Overshoot Day is the date when humanity's annual demand on nature exceeds what Earth's ecosystems can regenerate in that year. This date has crept up by two months over the last 20 years. At this rate, it would take 1.75 Earths to sustainably meet the current demands of humanity, according to the available data....
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Relaxation of end-use norms for External Commercial Bor...

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")....
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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]...
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Differential Voting Rights for Listed Companies in Indi...

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....
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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....
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Determination of Contract Workers as Direct Employees: ...

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....
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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....
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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...
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Enforceability of Investor Rights in India

Globally, private equity and venture capital funds have gained prominence as the dominant forms of investment in companies. A natural corollary of the above has been the evolution of innovative and complex mechanisms designed to protect such investment and gain maximum returns on the same. ...