LexBlog India

Publisher:
LexBlog
Publication date:
2019-10-11

Publisher

Latest documents

  • Prakash Gupta Judgment – Has the Supreme Court given more Powers to SEBI in the Matter of Compounding

    Introduction The Securities and Exchange Board of India Act, 1992 (“SEBI Act”) was essentially introduced to protect the interests of investors and to regulate and promote the development of the securities market in India. As a direct consequence of this legislative intention, the SEBI Act lays down that contravention, attempt to contravene and abetment of...

  • Role of IFSC in the Indian SPAC Dream: An Overview – Part 1

    India, being one of the major consumers of international financial services, has been pushing the envelope on making itself the hub for such services. With this objective, the Government of India had operationalised India’s first (and currently the only) International Financial Services Centre (“IFSC”) at GIFT Multi Services Special Economic Zone (“SEZ”) in Gujarat in...

  • FIG Paper (No. 8) – New Master Directions for PPI – A Fresh Look at Prepaid Payment Instruments!

    Introduction: With the pandemic acting as a tailwind for the digital payments industry in India, the fintech industry represents a key opportunity for the Reserve Bank of India (“RBI”) for its financial inclusion push in the country. A key driver in this regard is the burgeoning prepaid payment instruments (“PPI”) industry. PPIs have been widely...

  • Penalty for penalty: CCI penalises Maruti Suzuki for indulging in resale price maintenance

    In an order published on August 23, 2021, the Competition Commission of India (CCI) penalised Maruti Suzuki India Limited (MSIL) to the tune of INR 2 billion (approx. USD 27 million) for restricting and controlling the discounts offered by its dealers to the end consumers. Such conduct by India’s leading passenger vehicle manufacturer was held...

  • How to Avoid Liability for an Independent Contractor’s Injuries (Hint: Don’t Throw Stones)

    “The Wound was Bound,” 1912. From NYPL Collection. Sometimes injuries can be reasonably expected, sometimes not. A good example of when injuries can be expected is the annual Bagwal festival in northern India. This year’s festival was described by Indian media as “a low-key affair” with only 77 of the 300 participants sustaining injuries. Wait,...

  • Declarations of beneficial interest under the Companies Act vis-à-vis the Benami Act: No immunity and no “Ganga Snan”!

    Introduction Coinciding with the demonetisation of currencies by the Government of India in 2016, the Benami Transactions (Prohibition) Act, 1988, was substantially amended and renamed as the Prohibition of Benami Property Transactions Act, 1988 (“Benami Act”). The Benami Act was brought into effect from November 01, 2016. It was a well-timed move to ensure that...

  • Charging Up the EV Sector through Policy Reform

    Government of India approach As the world moves towards clean and eco-friendly mobility fuel alternatives, the Government of India (“GOI”) is playing its part by framing environmental-friendly policies & regulations and encouraging the use of electric vehicles (“EVs”) in the country. The National Electric Mobility Mission Plan, 2020 had launched the Faster Adoption and Manufacturing...

  • International Financial Services Centre, an idea whose time has come – Part I: Banking Sector

    Inauguration of India’s first International Financial Services Centre (“IFSC”) at the Gujarat International Finance Tec-City (“Gift City”) in Gujarat is a positive development to invigorate our financial sector. If everything that is being attempted to achieve is accomplished, it will mark our entry on the global stage. When IFSC was being set up, our then...

  • Delhi Court attempts to decode the cryptic case of cryptocurrencies in India

    INTRODUCTION: Cryptocurrencies, worryingly unregulated, decentralised virtual currencies, are steadily gaining traction in the Indian transaction landscape. With digitalisation and smart contracts becoming the new norm (especially considering the COVID-19 pandemic), global trade in cryptocurrencies has increased by leaps and bounds. However, one cannot ignore the unprecedented rise in cybercrimes across the globe, relatable to virtual...

  • SEBI Regulatory Update : Proposed Amendments to AIF Regulations

      There have been significant changes to the regulatory regime governing alternative investment funds (“AIFs”)[1] in the past year and a half. In its Board Meeting dated August 06, 2021, the Securities and Exchange Board of India (“SEBI”) approved a fresh set of amendments to the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), governing...

Featured documents

  • A Race to the Top

    Though it may be outside the limited scope of this blog, to the extent that hard work is a necessary attribute that applies to all endeavors, everyone should be interested in an op-ed article by Thomas Friedman found here in today’s New York Times about why countries like India are racing countries ...

  • Medical tourism outsources health care

    Medical tourism is a growing industry, sending Americans to India, Brazil and other countries for everything from cosmetic to major surgery. Medical tourism joins health resort and medical spa tourism as a major player to the market for health and wellness: As surprising as her choice may seem, in...

  • Court of Chancery Addresses Buyers’ Remorse in Closing an Acquisition – With a Unique Twist

    AQSR India Private, Ltd., et al. v. Bureau Veritas Holdings, Inc.,  No. 4021-VCS (June 16, 2009), read opinion here. Kevin Brady, a highly respected Delaware litigator, provides us with the following synopsis. In this Chancery Court decision, Vice Chancellor Strine addressed a motion to dismiss a...

  • Whistleblower murdered in India

    Satish Shetty — who exposed many land scams in Maharashtra, India — was stabbed to death with swords on Wednesday during is morning walk.  Shetty, age 38, was a “Right to Information” (RTI) activist who began exposing corrupt land deals ten years ago. “This has become a trend and social activists...

  • Global Growth Ahead for Asbestos Litigation – Asbestos Mine Worker Protests In India

    The global spread of litigation is increasing, and so are the indicators of even more litigation ahead.  Examples keep popping up in India. For example, this past October, the Time of India ran a story on judicial and administrative proceedings aimed at obtaining compensation for former asbestos...

  • India’s Comprehensive New Data Rules

    Kevin Boyle and Amy Taylor contributed to this post. Vast amounts of global personal data flow through India, including as a result of its major outsourced services industry.  For that reason, India’s recently adopted data privacy regulations, which implement the Information Technology (Amendment)...

  • Outsourcing to India: Privacy Law Clarified

    India’s $41 billion dollar outsourcing industry and its clients can breathe a sigh of relief; the Indian Government has issued an official clarification concerning their new broad privacy regulations. As noted in an earlier blog, in April 2011, India adopted new privacy rules under the Information...

  • EB-2 Visa Unavailable for Certain India/China Applicants

    While retrogression in the EB-2 China-mainland and India visa categories has been expected for some weeks, the State Department has now stated that effective March 23, 2012, no additional visas will be authorized for applicants in these categories with priority dates of August 15, 2007 or later....

  • India to Implement Standards for Street Food

    For the first time, street food vendors in India will soon be required to meet a set of sanitation regulations, announced the government Tuesday. Street food is a popular option in India because it’s convenient and cheaper than offerings at hotels and restaurants.  But at the majority of stands it’s...

  • “Reforming Retail: India Allows FDI in Multi-Brand Retail”

    On September 14, 2012, the Indian government announced that it would relax restrictions on foreign direct investment (FDI) in multi-brand retail. India—a country that traditionally excluded foreign investment—opened its doors to global supermarkets, such as Wal-Mart and Tesco. While the decision...

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