In this post, we have sought to compile some of the common questions that arise in the minds of corporates and other individuals who commonly enter into e-contracts, inter-state contracts and /or international contracts. We trust our readers will find this useful. When is stamp duty to be paid? Under the laws of India[1],... Continue Reading →
Arbitration and Conciliation (Amendment) Ordinance, 2015: Justice Hurried is?
Taking into consideration the Law Commission’s recommendations and suggestions received from stake holders, an Ordinance to amend the Arbitration and Conciliation Act, 1996 has been promulgated by the President. The Ordinance is likely to be introduced in the winter session of the parliament and shall have to be passed by both the houses within 6 weeks or 42 days. Failing this, it shall lapse and may be repromulgated at the discretion of the government. Certain amendments brought about by this Ordinance are welcome changes and shall definitely facilitate ease of doing business in India.
Another Special Court: The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015
The President of India promulgated the ordinance to bring into force The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015 (“Ordinance”) on October 23, 2015, which would enable the expeditious settlement of commercial disputes that would give impetus to the ease of doing business in India. With the ordinance coming into force "at once", all pending suits and applications relating to commercial disputes involving claims of Rs.1,00,00,000 (Rs. One Crore only) or more in the high courts and civil courts will be transferred to the relevant commercial division (“Commercial Division”) or commercial court (“Commercial Court”) as the case may be. However, a suit will not be transferred if a final judgment on the matter has been reserved prior to the constitution of the relevant Commercial Division or Commercial Court.
Employee’s Compensation Act: An overview
The Workmen's Compensation Act, 1923, was enacted as a social security measure to provide relief to employees for injury caused by industrial accidents. In 2009, the Workmen's Compensation Act was amended to “Employees' Compensation Act.” The substitution of the term 'workman' with 'employee' was made in order to make the law gender neutral. Under this Act, an employer is liable to compensate, in... Continue Reading →
Employment Bonds / Indemnity Bonds: Can one truly lock-in their key employees?
Employers undertake various approaches to secure themselves from any harm caused by the acts of their employees. Requiring an employee to execute an indemnity bond, inclusion of negative covenants in the employment agreement and confidentiality clauses is some of the practices generally adopted by employers as measures to protect from employee attrition. Whereas confidentiality clauses... Continue Reading →
Employee Retention Strategies: Are ESOPs different from Sweat Equity?
Amongst start-ups particularly the question of employee retention and reward (for working with a start-up) is asked very frequently. This blog post seeks to identify and discuss the legal parameters surrounding both mechanisms arming promoters with answering the question of whether ESOP or Sweat Equity. What is an ESOP? An ESOP is a type of employee... Continue Reading →
COMMERCIAL LAW BLOG 