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  • India Releases Draft Non-Personal Data Governance Framework

    On July 13, 2020, a Committee of Experts within India’s Ministry of Electronics and Information Technology published the first draft of a Non-Personal Data Governance Framework for India for public consultation. (See Article)

    Aug 10, 2020 6:33 AM

  • Real Estate Collaborations &the Significance of Corporate Due Diligence

    Introduction India’s real estate sector has been witnessing critical changes since the last few years, including the promulgation of the Real Estate (Regulation and Development) Act, 2016 (the “RERA Act”). The implementation of the RERA Act has pushed the sector to organise and standardise operations and management of real estate entities. The checks... (See Article)

    Aug 7, 2020 6:33 AM

  • NEP 2020 AND FOREIGN UNIVERSITIES: WHAT TO EXPECT IN THE REGULATORY DOMAIN?

      Background The National Education Policy, 2020 (“NEP”), is only a few days old and has been garnering a lot of attention. Indeed, this is only natural, given the impact it can have on the large student community of India. In addition, given that it is the first education policy in 34 years, both in... (See Article)

    Aug 5, 2020 6:33 AM

  • Recent Amendments to the Insider Trading Regime

    Since overhauling the insider trading regime with the introduction of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”), the Securities and Exchange Board of India (“SEBI”) has continually sought to fine tune and tweak the regulations through amendments in 2018 and 2019. On July 17, 2020, SEBI notified the Securities and Exchange Board... (See Article)

    Aug 4, 2020 6:33 AM

  • India bans multiple Chinese apps

    Report on Supply Chain Compliance 3, no. 14 (July 23, 2020)  - Following a deadly clash between Indian and Chinese forces along the Himalayan border area, India’s government decided on June 29 to ban 59 Chinese apps. The Indian Ministry of Electronics and Information Technology issued a news release explaining that the apps were engaged in activities that threatened India’s national sovereignty and were therefore banned under Section 69A of the Information Technology Act.... (See Article)

    Jul 29, 2020 6:33 AM

  • International Biosimilars Market Update

    India-based Cadila Pharmaceuticals announced the launch of its bevacizumab biosimilar for the Indian market under the brand name BEVARO. Bevacizumab is a biosimilar of Genentech’s AVASTIN and is indicated for the treatment of multiple cancers, including ovarian cancer, glioblastoma multiforme, colorectal cancer, breast cancer, lung cancer, cervical cancer, and kidney cancer. (See Article)

    Jul 29, 2020 6:33 AM

  • Blog: Three Common Corporate Governance Issues in Southeast Asian and Indian Startups

    For many entrepreneurs and investors who are familiar with the US venture capital scene, you may be surprised to hear the details of the bespoke corporate governance terms that are often negotiated in Southeast Asia and India deals, some of which are ordinarily viewed as non-starters or off-market in the US. (See Article)

    Jul 27, 2020 12:32 PM

  • Blog: Convertible Notes in Southeast Asia and India – What Founders Should Know

    Often viewed as a quick interim source of funding until the next round of equity financing, convertible notes have become ubiquitous in Southeast Asia and India for many early-stage and even late-stage companies looking to raise capital. (See Article)

    Jul 27, 2020 6:33 AM

  • Blog: Indemnification in Venture Capital Deals in Southeast Asia and India

    One thing that we can say for sure is, never say never. As with anything else in life, an investment carries both known and unknown risks. A company may have current or historic issues that create liabilities. The company may also have known risks associated with its line of business, and unknown risks associated with outside events it can’t control, such as the behavior of customers or vendors, changes in laws and regulations, and “force majeure” events like wars and pandemics. (See Article)

    Jul 24, 2020 8:33 AM

  • Blog: What Foreign Investors Should Know When Investing In India

    With India’s strong ties with Silicon Valley and its maturing tech and startup ecosystem, outside investments in Indian companies are becoming increasingly common. However, the Indian economic and legal regime has some unique characteristics. Here are a few things you should consider before investing... (See Article)

    Jul 24, 2020 6:33 AM

  • Blog: Becoming a Director in an Indian Company

    Here are a few things that an investor should keep in mind when considering whether to become a director of an Indian company. (See Article)

    Jul 23, 2020 6:32 PM

  • BIO-MEDICAL WASTE AND LIABILITY OF HOSPITALS IN WAKE OF THE COVID-19 PANDEMIC

    Introduction:                  The handling, disposal and management of bio-medical waste (“BM Waste”)in India is government by inter-alia, the Biomedical Waste Management & Handling Rules, 1998 (“1998 Rules”) were notified by the Central Government in exercise of the powers conferred by Section 6,8 & 25 of the Environmental Protection Act, 1986. These rules provide for the... (See Article)

    Jul 20, 2020 8:33 AM

  • Multiplicity of proceedings defeats the purpose of alternate dispute resolution: Delhi high court

    Introduction Recently, the Hon’ble High Court of Delhi (“Court”) in Gammon India Ltd. and Anr. v. National Highways Authority of India[1], had the occasion to opine on the scourge of multiplicity of arbitral proceedings while dealing with a petition under Section 34 of the Arbitration and Conciliation Act, 1996 (“Act”) wherein the objections raised were... (See Article)

    Jul 20, 2020 6:34 AM

  • COVID-19 – Implications for the Indo-German supply chains

    India’s biggest export markets are the US and the EU. In particular Germany and India have an extensive trade history with bilateral trade amounting to Euros 21.9 billion in 2017-2018. Key sectors include IT, automotive, and especially pharma. Germany is one of the main buyers of Indian generics in the EU. (See Article)

    Jul 17, 2020 6:33 AM

  • Competition or Unlawful Contractual Interference: The Line Continues to Remain Blurred

    In a recent decision, the Delhi High Court dealt with the tort of unlawful interference in contractual relationships and inter alia held that the said tort has no place in India in view of Section 27 of the Indian Contract Act, 1872 (“Contract Act”).[1] Background The developer of a certain property at Amritsar agreed... (See Article)

    Jul 16, 2020 6:34 AM

  • Clarity on eligibility criteria for funds set up by Category I FPIs for exemption from taxable presence in India

    Background A special  taxation regime, provided under Section 9A of the Income-tax Act, 1961 (“IT Act”), exempts eligible offshore funds, with their fund managers located in India, from treating them as having taxable business presence in India. On satisfaction of the requirements set out in Section 9A of the IT Act, management of the funds... (See Article)

    Jul 13, 2020 6:34 AM

  • Women and Maintenance

    Maintenance, as a concept, has its roots in the social justice system of a civilised society. The Supreme Court, explaining the rationale behind providing maintenance in the case of Badshah v. Urmila Badshah Godse and Anr[1], has held that the “provision of maintenance…aims at empowering the destitute and achieving social justice or equality and dignity... (See Article)

    Jul 10, 2020 6:34 AM

  • Housing Finance Companies – Proposed changes by RBI

      The Central Government had, with effect from August 09, 2019, transferred regulatory powers of the Housing Finance Companies (“HFCs”) from the National Housing Bank (“NHB”) to the Reserve Bank of India (“RBI”). It is further stated that the RBI will review the extant of regulatory framework applicable to HFCs and issue the same in... (See Article)

    Jul 9, 2020 6:34 AM

  • Covid-19: Bumpy roads ahead for Highway Sector

    The Covid-19 pandemic has affected the society in an unanticipated and unprecedented way. To contain its spread, the Ministry of Home Affairs (MHA), Government of India vide its order dated March 24, 2020 directed closure of commercial and private establishments for a period of twenty one days. Immediately thereafter, the Ministry of Road Transport &... (See Article)

    Jul 3, 2020 10:34 AM

  • India Continues General Ban on International Travel While Extending Visa Grace Period

    The Government of India has not yet eased its ban on international flights or consular processing services.  The latest announcement from the Government confirms: All scheduled international commercial passenger services will remain closed until July 15, 2020, with exceptions for select routes for which international flights may be permitted made on a case-by-case basis. All... (See Article)

    Jul 3, 2020 8:34 AM

  • Arbitrator’s power to recall its order of termination of arbitral proceeding- A tale of Dubiety? (Part I)

    Introduction: This article analyses the legal basis and the genesis of the power of an arbitrator to recall its order of termination of proceeding on account of default of the Claimant. India seated arbitral proceedings, whether ad-hoc or institutional, are governed by the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act), which... (See Article)

    Jul 3, 2020 8:34 AM

  • California Sues Cisco Alleging Caste-Based Discrimination

    In a June 30 press release, the California Department of Fair Employment & Housing announced the filing of an unusual employment discrimination lawsuit against Cisco Systems, Inc. and two of its managers: The lawsuit alleges that managers at Cisco’s San Jose headquarters campus, which employs a predominantly South Asian workforce, harassed, discriminated, and retaliated against... (See Article)

    Jul 3, 2020 8:34 AM

  • Covid-19 – A booster for the EdTech Industry in India

    Introduction The EdTech sector is seeing significant investments and expenditure by governments, schools, universities, students and professionals globally. By 2030, it is expected that global EdTech expenditure will grow to USD 10 trillion[1]. The growing popularity of online learning, further necessitated due to the nationwide lockdown, has provided a major push to the sector in... (See Article)

    Jun 30, 2020 6:34 AM

  • When does the clock of limitation start ticking for suits falling under Article 113 of the Limitation Act?

    In Shakti Bhog Food Industries Ltd. v. The Central Bank of India and Anr.[1], the Hon’ble Supreme Court has clarified as to when the three-year limitation period contemplated under Article 113[2] of the Limitation Act, 1963 (Act), commences. It has also reiterated the importance of considering the averments made in a plaint as a whole... (See Article)

    Jun 29, 2020 6:34 AM

  • SEBI clarifies status of married daughters becoming promoters in listed companies

    In India, the law and practice in relation to property and inheritance have traditionally been more patriarchal. Unfortunately, married daughters were quite often not regarded as the heir apparent to a family’s estate and business; and sons continue to be the ‘chosen ones’. Many business families remain reluctant to pass their business wealth and assets... (See Article)

    Jun 26, 2020 6:34 AM

  • Bankruptcy, Insolvency & Rehabilitation Proceedings in India

    KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER INDIAN LAW - Suspension due to Coronavirus: Considering the adverse global impact of Coronavirus across the industry and the economy, filing of new cases under the (Indian) Insolvency and Bankruptcy Code, 2016 (“the Code”) has been suspended for the period of six months, extendable to one year, in relation to defaults that take place on or after March 25, 2020. The Code however continues for cases of an earlier default and would continue for cases post the suspension period. In addition, w.e.f. March 24, 2020, the threshold limit of a default to drag a defaulting company to the insolvency tribunal has also been raised to INR 10 million, from the earlier threshold of INR 0.1 Million. Please see full Chapter below for more information. (See Article)

    Jun 26, 2020 6:32 AM

  • COVID-19 Cloud Cover: Not so sunny times for renewable energy sector

    After more than three months of lockdown, there is no denying that the Indian economy has been impacted. This is also evidenced by the stimulus packages announced by the Government of India, in an attempt to protect and revive the economy. With most people staying indoors 24*7, electricity consumption in the commercial sector was also... (See Article)

    Jun 25, 2020 6:34 AM

  • SEBI and WhatsApp leaks: Every link in the chain matters

      “The most valuable commodity I know of is information.” – Gordon Gekko, Wall Street Over the past few weeks, the Securities and Exchange Board of India (SEBI) has passed three orders[1] (SEBI Orders) in the infamous ‘WhatsApp leak’ saga that has been in the news since November 2017[2]. Holding the impugned perpetrators guilty of... (See Article)

    Jun 25, 2020 6:34 AM

  • “Two-Tier” Arbitration: Progress in Enforcement of International Arbitral Awards in India

    Here is reason for hope for those who face with trepidation the prospect of enforcing an international arbitration award in India. On June 2, 2020, the Supreme Court of India (“ISC”) confirmed the enforceability there of a foreign arbitral award that was rendered in accordance with a “two-tier arbitration” agreement. See Centrotrade Minerals & Metals, Inc. v. Hindustan Copper Limited Ltd., Civil Appeal No. 2562 of 2006 (Sup. Ct. India). Among other things, the court rejected the dreaded catch-all “Indian public policy” defense as raised by the respondent. This is the latest in what seems to be a trend of pro-arbitration enforcement decisions by the ISC, and may help to alleviate some of the many anxieties concerning the enforceability generally of international arbitral awards in India. (See Article)

    Jun 25, 2020 6:32 AM

  • Supreme Court’s judgment in Vijay Karia v. Prysmian Cavi e Sistemi S.r.l.: Impact on challenges to awards passed in International Commercial Arbitrations conducted in India

      Section 34 of the Arbitration and Conciliation Act, 1996 (Act) sets out the grounds on which arbitral awards passed in domestic arbitrations and international commercial arbitrations seated in India can be set aside.  As regards foreign awards (i.e. arbitral awards passed in foreign seated arbitrations), whilst the same cannot be challenged in India, the... (See Article)

    Jun 24, 2020 6:34 AM