Many States in India have announced a number of reforms to labour laws, amidst the Covid-19 crisis, granting various relief measures to employers to recover from the slowdown in the economy that has arisen due to the pandemic and to boost investment opportunities. Various States granting sweeping exemptions from various labour laws which are aimed... Continue Reading →
However, the Advisories/ Orders have given rise to a lot of confusion among the employers with regards to payment of salaries and wages of their employees and workers, pursuant to which various writ petitions have been filed by the employers in the High Courts and Supreme Court. On the other hand, the employees have also sought actions against employers who are taking adverse steps against the Advisories/ Orders issued. Some key developments are captured in this post
Owing to the unavailability of stamps, execution of necessary documents would not be possible which will result in delay/stoppage of financial operations of banks and this will not be in favour of public welfare. In response to queries by banks and financial institutions the authorities had come up with clarifications..
While it can be appreciated that this amendment however is a step by the Indian Government to curb opportunistic takeovers/acquisitions of Indian companies, implementation of the same will have to be judiciously done, the notification has created a two faced dilemma.
The validity of license granted under the Contract Labour (Regulation and Abolition) Act, 1970 and the Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979 have been extended upto 31st May 2020, for those licenses whose renewal falls in the months of March, April and May 2020.
These cases, probably the first amongst a flurry that are yet to come, establish beyond doubt that force majeure is not a blanket concept to be applied uniformly to the situation arising out of Covid–19 and each case will have to be appreciated on its specific facts.
The nature of instrument to be issued by a company depends to a large extent on the valuation of the company obtained through different mechanisms.
We are pleased to announce that India Business Law Journal’s 2020 Indian Law Firm Awards has named Agama Law Associates as a winner in the category of Private Client Practice. We thank our clients for their trust and faith in us.
The relaxations issued under the Guidelines have been withdrawn in the Mumbai Metropolitan Region and Pune Metropolitan Region, as a large number of people had commenced commuting due to these relaxations which posed imminent threat of further spread of COVID-19 in these regions.