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 →
FAQs on payment of Stamp Duty in Maharashtra
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.
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