Judgment: Ramanand & Ors. Vs. Dr. Girish Soni & Anr. [CM APPL. 10847/2020] Forum: Hon’ble High Court of Delhi (“DHC”) Judgment delivered on: May 21, 2020 Act/Law: Indian Contract Act, 1872 (“ICA”) and Transfer of Property Act, 1882 (“TPA”) Ratio: The right of suspension of lease rent can only be claimed […]
The Reserve Bank of India (RBI), vide A.P. (DIR Series) Circular No. 27 dated 1st April 2020, has increased the period of realisation and repatriation of the export proceeds to India in respect of the export of goods or software or services, from 9 (nine) months to 15 (fifteen) months from the date of such […]
The Indian economy is currently reeling under a huge setback during the ongoing nationwide lockdown necessitated by the spread of COVID-19 pandemic. To uplift the economic gloom, the Government has laid out a road map towards building a self-reliant India (Aatma Nirbhar Baharat Abhiyan), with five key pillars identified as Economy, Infrastructure, System, Vibrant Demography […]
To ease the impact of disruption caused by the Coronavirus/COVID-19 pandemic (“Pandemic”), various departments of the Government of India have been issuing directions, advisories, orders and notifications with measures to be undertaken during the Pandemic. To consolidate the plethora of key amendments/modifications/relaxations issued by the Government of India in relation to the Pandemic including the […]
The Hon’ble Supreme Court on 6th May, 2020 passed the following orders in Suo Moto Writ (Civil) No. 3 of 2020: • All periods of limitation prescribed under the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) and under section 138 of the Negotiable Instruments Act 1881 (“Negotiable Instruments Act”) shall be extended with effect from […]
In the wake of spread of COVID-19 pandemic, India is heading towards a new paradigm in conducting business, running offices, organising social distancing and managing supplies to needy and poor. The current lockdown is crippling Indian economy, making the state and industry coffers empty and also keeping the doors of learning institutions closed till further […]
In view of the pandemic COVID-19, the Ministry of Corporate Affairs (“MCA”), had issued circular no. 14/2020 dated 8th April 2020 (“EGM Circular-I”) and circular no. 17/2020 dated 13th April 2020 (“EGM Circular-II”), which dealt with conducting of extraordinary general meeting (“EGM”) through video conferencing (“VC”) or any other audio visual means (“OAVM”) under the […]
Introduction The Ministry of Finance, Government of India amended certain provisions of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (“Non-debt Instruments Rules”) vide a notification bearing number S.O. 1374(E) on 27 April 2020 (“Amendment Rules”), effective from 27 April 2020. Key amendments and Analysis 1. Acquisition of equity instruments by a […]
Force Majeure Event – Injunction Against Invocation of a Bank Guarantee During Lockdown Judgment: M/s Halliburton Offshore Services Inc. Vs. Vedanta Limited & Anr. [O.M.P. (I) (COMM) 88/2020 & I.A. 3697/2020] Forum: Hon’ble High Court of Delhi (“Court”) Judgment delivered on: April 20, 2020 Act/Law: Arbitration and Conciliation Act, 1996 (“Act”). Ratio: Special equities in […]
In view of the pandemic COVID-19 and the changing business environment due to COVID-19, the Insolvency and Bankruptcy Board of India (“IBBI”) has issued certain notifications to address various concerns of stakeholders in connection to Insolvency and Bankruptcy Code, 2016 (“Code”) and other regulations framed therewith. The gist of some of the latest notifications issued […]
Authors Medha Srivastava, Partner and Mehul Arora, Associate INTRODUCTION With the enactment of the Information Technology Act, 2000 (“IT Act”) the legislature introduced the concept of an ‘intermediary’. At the time the IT Act was enacted, the definition of the term intermediary1 was as follows: “Intermediary with respect to any particular electronic message means any person who […]
In a significant change to the Foreign Direct Investment Policy 2017 (“FDI Policy”), the Department for Promotion of Industry and Internal Trade has issued Press Note No. 3 (2020 Series) dated April 17, 2020 (“Press Note 3”), wherein it has imposed certain restrictions for receiving FDI from neighbouring countries. According to the Press Note 3, […]