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Holi Days / Issue 37

Legally India newsletter
Legally India newsletter
This was an exciting week not just for India's business media but also for tax lawyers, who will no doubt spend the long and colourful Holi weekend getting to grips with the changes in the 2010-11 Budget.

Lawyers and corporates have generally welcomed the Budget's safe smorgasbord of changes, which could increase lawyers' work, despite heavy lobbying efforts having given no respite to law firms on service tax. But it is also very unlikely there will be a repeat of last year when litigators went on strike over the service tax imposed on their law firm brothers and sisters.

Good news also for competition lawyers, after the chairman of the Competition Commission of India finally promised that the draft merger control guidelines were just around the corner, during a discussion at the IBA conference in Mumbai.

The Delhi Bar Council too finally got around to electing its executive committee after weeks of squabbles. While the Council's only law firm partner member did not win any of the juicy seats, he is considering challenging the result. It ain't over 'til it's over...

Similarly complex, a recent Bombay High Court judgment has cast doubt on joint venture and shareholder agreements of public companies that contain transfer restriction clauses and those are potentially a whole lot of agreements.

Meanwhile, Luthra & Luthra continues its focus on building up in Mumbai by relocating a partner from Delhi and Zeus Law has promoted a partner.

Our Legal Opinion this week discussed litigants' nightmares in India and television commercials.

The law school of Nalsar Hyderabad is still living the dream of glory and has climbed further this week in the Mooting Premier League after another resounding victory.

And in the blogosphere, a Pune student wants to find peace after the recent terrorist attack and on a lighter note Legal Popat shows you how to sit on your hands and not get laid off.

Happy Holi!

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