Tag: Retrospective Application.
August 7, 2024
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Section 164(2) of The Companies Act: Supreme Court Weig...
The Companies Act, 2013 ("Act") is the primary legislation on the law of companies in India and deals with the incorporation, registration, regulation, and administration of companies registered in India. While the primary nature of the legislation is regulatory, it also contains several ‘enforcing provisions’ that serve to impose penalties on instances of non-compliance. ......
BEWARE Social Media Influencers: Don’t Say What You’re Not Qualified to Say
In a recent judgment, the Delhi High Court ("Court") dealt with the emerging issue of social media influencers commenting on topics they are unqualified to discuss, particularly when such comments have the potential to harm a brand's reputation. The case of Zydus Wellness Products Limited v. Mr. Prashant Desai , highlights the growing responsibility of influencers. ...
The Bombay High Court Strikes Down Rules Empowering the Central Government to Form Fact-Ch...
In January 2024, a division bench of the Bombay High Court consisting of Justice G. S. Patel and Justice Neela Ghokale (the "Division Bench") pronounced a split verdict in the case of Kunal Kamra v. Union of India & Ors. In the said matter, the constitutional validity of the amendments made to Rule. ...
The Compound Effect of the New FEMA Compounding Rules
Pursuant to the commitments made during the announcement of the Union Budget 2024-25, the Department of Economic Affairs of the Ministry of Finance, notified the Foreign Exchange (Compounding Proceedings) Rules, 2024 on September 12, 2024 ("Rules") pursuant to Section 46 of the Foreign Exchange Management Act, 1999. ...
The National Blockchain Framework
In a milestone initiative to advance the digital infrastructure in the country, and with a view to increase the transparency of digital-based government functions, the Ministry of Electronics and Information Technology ("MeitY") of the Government of India launched the Vishvasya-Blockchain Technology Stack. ...
The Delhi High Court Sheds Light on Section 32A of the Insolvency and Bankruptcy Code, 201...
Recently, the High Court of Delhi, reinforced the application of Section 32A of the Insolvency and Bankruptcy Code, 2016 ("IBC"). Section 32A of the IBC states that the liability of a corporate debtor ("CD") for an offence committed prior to commencement of the corporate insolvency resolution process. ...
REGULATORY UPDATE – SEBI AMENDMENTS TO AIF REGULATION AND GUIDELINES FOR BORROWERS.
The Securities and Exchange Board of India ("SEBI") has enacted significant amendments to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, through the Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024. ...
Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2024
Earlier this year, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in her budget speech announced the intent to simplify the regulatory framework governing Foreign Direct Investments ("FDI") and Overseas Investments ("OI"). ...
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