In light of Union Government’s ‘Make in India’ initiative, and to propel the ease of doing business in India, the Ministry of Law and Justice constituted an expert committee, around the end of January, 2016, to review and suggest amendments to the Specific Relief Act, 1963 (“Act”). The Expert Committee, headed by Mr. Anand... Continue Reading →
Update: Special courts – Blurring of boundaries or an unnecessary evil?
In our previous post we had discussed the provisions of the then Companies Bill, 2012 relating to the establishments of special courts to ensure speedy trial of offences violating the provisions of the said bill. Section 2 (29) (iv), Section 435 to Section 438 and Section 440 of the Companies Act 2013 (“Act”) dealing with the... Continue Reading →
Establishment of National Company Law Tribunal (“NCLT”) and National Company Law Appellate Tribunal (“NCLAT”)
To reduce the burden of High Court and to take up all matters relating to company law and other corporate laws, Supreme Court in Union of India v. R. Gandhi[1] and Madras Bar Association v. Union of India[2] upheld and allowed the constitution of NCLT and NCLAT under Companies Act, 2013. On 1st June, 2016 Ministry of... Continue Reading →
FDI in E-commerce – Framework Underway
The Department of Industrial Policy & Promotion (“DIPP”) issued the Press Note No. 3 for 2016 on March 29, 2016 (“Press Note”), through which it has clarified the government’s standpoint on the permissible models of conducting e-commerce in India for such entities who have received foreign direct investment. While the policy still remains unequivocal in... Continue Reading →
Payment of Bonus (Amendment) Act, 2015
Introduction The Payment of Bonus Act 1965 (“Act”) is applicable to every factory and other establishment in which 20 (twenty) or more persons are employed on any day during a financial year. The Act provides for the payment of bonus to person employed in certain establishments on the basis of profits or on the basis... Continue Reading →
Stamp Duty and its relevance
The basic idea about stamp duty and the obligations imposed under the Indian Stamp Act, 1899 (“Act”) for interstate transactions has been illustrated in our previous blog. The concept of stamp duty was introduced by the Britishers in 1899 and was applicable for all property transactions. Stamp duty was to be deposited in the government... Continue Reading →
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