Legal Pulse
25 May 2010
Corporate The commerce and industry ministry is likely to propose 100 per cent foreign direct investment (FDI) in multi-brand retail outlets, according to an unnamed source in the department quoted by the Economic Times today.
Corporate The commerce and industry ministry is likely to propose 100 per cent foreign direct investment (FDI) in multi-brand retail outlets, according to an unnamed source in the department quoted by the Economic Times today.
21 May 2010
Tax The Delhi High Court stayed the recovery of service tax on rentals of immovable property, reaffirming its April 2009 decision after the Government had sought to impose the tax by amending the charging section under the Finance Act 2010.
Tax The Delhi High Court stayed the recovery of service tax on rentals of immovable property, reaffirming its April 2009 decision after the Government had sought to impose the tax by amending the charging section under the Finance Act 2010.
11 May 2010
Corporate The Supreme Court has ruled today that all Indian company-related cases should be transferred to the National Company Law Tribunal (NCLT) from high courts and company adjudication bodies throughout the country, by upholding the validity of a 2002 amendment to the 1956 Companies Act.
Corporate The Supreme Court has ruled today that all Indian company-related cases should be transferred to the National Company Law Tribunal (NCLT) from high courts and company adjudication bodies throughout the country, by upholding the validity of a 2002 amendment to the 1956 Companies Act.
07 May 2010
Dispute resolution, arbitration, litigation
Dispute resolution, arbitration, litigation
Parliament has passed the National Green Tribunal Bill (NGB), which paves the way for the setting up of four mobile 'green tribunals' to speedily adjudicate environmental disputes and resolve over 5,000 pending environmental cases.
04 May 2010
Dispute resolution, arbitration, litigation India's law ministry has proposed to nullify the controversial Supreme Court judgement of Venture Global Engineering vs Satyam Computers Services by amending the Arbitration Act and preventing Indian courts from challenging international arbitral awards. Other proposals include making institutional arbitration mandatory for disputes over Rs 5 crores and narrowing "public policy" in light of the ONGC v Saw Pipes case.
Dispute resolution, arbitration, litigation India's law ministry has proposed to nullify the controversial Supreme Court judgement of Venture Global Engineering vs Satyam Computers Services by amending the Arbitration Act and preventing Indian courts from challenging international arbitral awards. Other proposals include making institutional arbitration mandatory for disputes over Rs 5 crores and narrowing "public policy" in light of the ONGC v Saw Pipes case.
30 April 2010
Tax A raging tax controversy in respect of withholding tax on remittances to non-residents has been resolved after three March and April rulings of the Delhi High Court in the Van Oord case, its order in Maharishi Housing Development case and the latest ruling by the Special Bench of Tax Tribunal, all of which override the November 2009 Karnataka High Court decision in the Samsung case.
Tax A raging tax controversy in respect of withholding tax on remittances to non-residents has been resolved after three March and April rulings of the Delhi High Court in the Van Oord case, its order in Maharishi Housing Development case and the latest ruling by the Special Bench of Tax Tribunal, all of which override the November 2009 Karnataka High Court decision in the Samsung case.
22 April 2010
Regulatory The Competition Commission of India (CCI) has gone to the Supreme Court to curtail the powers of its own appellate tribunal in the case of SAIL v Jindal Steel, with senior advocates, Economic Laws Practice and Amarchand Mangaldas representing the parties.
Regulatory The Competition Commission of India (CCI) has gone to the Supreme Court to curtail the powers of its own appellate tribunal in the case of SAIL v Jindal Steel, with senior advocates, Economic Laws Practice and Amarchand Mangaldas representing the parties.
20 April 2010
Intellectual property (IP)
Intellectual property (IP)
Intellectual property lawyers have criticised provisions of the Copyright Amendment Bill 2010, which proposes to modernise the Copyright Act 1957 and was introduced in the Upper House by the Union Government yesterday.
14 April 2010
Corporate Two far-reaching legal developments that will impact the transaction restructurings were published this month, following a Securities and Exchange Board of India (SEBI) circular amending clause 24 of the Equity Listing Agreement and a Delhi High Court decision imposing stamp duty on court approved schemes of amalgamation.
Corporate Two far-reaching legal developments that will impact the transaction restructurings were published this month, following a Securities and Exchange Board of India (SEBI) circular amending clause 24 of the Equity Listing Agreement and a Delhi High Court decision imposing stamp duty on court approved schemes of amalgamation.
07 April 2010
Tax The Authority for Advance Ruling (AAR) has reiterated that sharing of profits and not income would be the determining factor in finding the existence of an Association of Persons (AOR) for the purpose of taxation, while holding that a consortium cannot be treated as an AOR.
Tax The Authority for Advance Ruling (AAR) has reiterated that sharing of profits and not income would be the determining factor in finding the existence of an Association of Persons (AOR) for the purpose of taxation, while holding that a consortium cannot be treated as an AOR.
01 April 2010
Corporate The Union Minister of Commerce & Industry has released a new foreign direct investment (FDI) policy framework to rescind all previous FDI Press Notes and consolidate all FEMA, RBI Circular and Press Note regulations into one consolidated document.
Corporate The Union Minister of Commerce & Industry has released a new foreign direct investment (FDI) policy framework to rescind all previous FDI Press Notes and consolidate all FEMA, RBI Circular and Press Note regulations into one consolidated document.
25 March 2010
Regulatory The Supreme Court has held that the legislative functions of a regulatory commission are beyond the jurisdiction of the quasi-judicial powers of its appellate tribunal and should be dealt with via judicial review.
Regulatory The Supreme Court has held that the legislative functions of a regulatory commission are beyond the jurisdiction of the quasi-judicial powers of its appellate tribunal and should be dealt with via judicial review.
24 March 2010
Corporate
Corporate
Khaitan & Co has won a landmark order from the Authority for Advance Rulings (AAR) for the firm's client E*trade Mauritius (ETM) to obtain tax exemptions under the India-Mauritius Tax Treaty on capital gains accrued from a sale of shares it held in an IL&FS investment.
10 March 2010
Constitutional law
Constitutional law
Non-governmental organisations (NGO) Greenpeace and others are seeking lawyers to support the opinion of former attorney general Soli Sorabjee that the Civil Nuclear Liability Bill is unconstitutional.
05 March 2010
Constitutional law The Bombay High Court has held in a recent land mark judgment on the cost of imported wines that state governments are not required to comply with the understanding between nations under international treaties unless the legislature enacts a law to reflect the principles agreed under such treaties.
Constitutional law The Bombay High Court has held in a recent land mark judgment on the cost of imported wines that state governments are not required to comply with the understanding between nations under international treaties unless the legislature enacts a law to reflect the principles agreed under such treaties.
26 February 2010
Corporate In a decision that could have major adverse consequences in the practice of corporate law the Bombay High Court on 15 February 2010 has effectively declared that transfer restriction clauses like rights of first refusal, tag along and drag along rights, or put and call options in joint venture agreements and shareholder agreements of public companies are void.
Corporate In a decision that could have major adverse consequences in the practice of corporate law the Bombay High Court on 15 February 2010 has effectively declared that transfer restriction clauses like rights of first refusal, tag along and drag along rights, or put and call options in joint venture agreements and shareholder agreements of public companies are void.