Pendency reduction drive: Salman Khurshid launches second phase from 1 July to 31 December 2012, after first phase in 2010 reduced 50 lakh pending cases in Maharashtra courts; 30.49 lakh cases were pending in the state on 30 June 2012 [HT]

Proposed new SEBI regulations allow listed companies to use call-and-put options in M&A, one year after SEBI debarred use of this derivative; Section 18A of Securities Contracts (Regulations) Act 1956 and and a 2000-SEBI notification limit use of derivative instruments by listed companies [ET]

Registrar of geographical indications (GI) to hear rectification petition seeking revocation of GI status over Tirupati Laddu granted to a trust administering Venkateshwara temple in Andhra Pradesh; Trust claims that the offering – Tirupati Laddu – is unique in quality, reputation and other preparatory characteristics; Petition claims that the trust is commercialising religious faith through the G.I [Spicy IP India]

Outgoing information commissioner Shailesh Gandhi says RTI Act 2005 is likely to become irrelevant in the next five years, as it is under ‘threat’ from the government, judiciary and information commission [Firstpost]

60 per cent UK lawyers think the law firms employing them would merge with another law firm in the next three years, to remain competitive; 32 per cent think the merger would happen within this year, while 93 per cent think it will be with a firm smaller than their employees [The Lawyer]