General Corporate Advisory

General Corporate Advisory

July 10, 2024
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Examining the Crucial Aspects of the Karnataka Platform...

On June 29, 2024, the Karnataka Government's Labour Department published the draft Karnataka Platform based Gig Workers (Social Security and Welfare) Bill, 2024 (the "Bill") for public comments. In essence, the Bill is aimed at safeguarding the rights of platform based gig workers and mandates aggregators to comply with certain obligations to ensure social security of its gig workers. ... ...
July 3, 2024
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Balancing Public Information and Media Truth with Indiv...

In a recent judgment delivered on May 31, 2024 , the Delhi High Court ("Court") dismissed 2 (two) suits filed by an individual seeking compensation/damages for loss of his reputation, against the newspaper Hindustan Times and its publisher, editor and correspondent (hereinafter together referred to as the "Defendants"). ......
June 26, 2024
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Advertisers to Submit Self-Declarations for their Adver...

On May 7, 2024, the Hon'ble Supreme Court passed an order in the case of Indian Medical Association & Anr. v. Union of India & Ors. requiring submission of self-declarations by advertisers/advertising agencies before the publication or broadcast of any advertisement ("Order"), for consumers to be able to make informed decisions about the quality of products that are offered to them for sale. ......
June 20, 2024
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Framework for Self-Regulatory Organisations in the Fint...

The Reserve Bank of India (RBI) has recently released a robust and intricate framework for the establishment and functioning of self-regulatory organisations (SROs) in the fintech sector (SRO-FT), aimed at fostering a balanced environment that promotes innovation while ensuring compliance with regulatory standards. ......
June 12, 2024
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Indian Investors can now expand their investment portfo...

Indian investment in overseas funds is governed by a combined reading of the Foreign Exchange Management (Overseas Investment) Rules, 2022 (“OI Rules”) and the Foreign Exchange Management (Overseas Investment) Directions, 2022 (“OI Directions”) (jointly referred to as the “OI Framework”). ......
June 5, 2024
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Enhancing Digital Lending Security: The Role of the Dig...

The Reserve Bank of India ("RBI") has reportedly been planning to initiate the establishment of a Digital India Trust Agency ("Agency"), in order to curb financial frauds and cybercrimes which have been uprising in the digital lending space. This Agency is intended to be involved in creating a systematic procedure of verifying legitimate digital lending application and resolving the concerns surrounding unauthorised digital lending apps. ......
May 29, 2024
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SBO Declarations: A Significant Compliance Challenge – ...

Following an order in the matter of Leixir Resources Private Limited (discussed in our article here), the NCT of Delhi and Haryana has issued yet another order dealing with the aspect of significant beneficial owner ("SBO") and has discussed 'significant influence' and 'control' required to establish the status of SBOs under the Companies Act, 2013 ("Act") and the Companies (Significant Beneficial Owners) Rules, 2018 ("Rules"). ......
May 22, 2024
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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"). ......
May 15, 2024
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Both Celebrities and Influencers to be liable for Decep...

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. ......