Non-payment or substantial reduction of wages for the period the Indian industry was closed or operating at limited capacity due to COVID-19 despite the Central Government’s order to continue paying wages to workmen during the lockdown period has led to filing of several petitions before the Hon’ble Supreme Court of India. In the matter of […]
Friday, June 12, 2020 On June 4, 2020, the Canadian Securities Administrators (the “CSA”) published the final amendments to National Instrument 44-102 – Shelf Distributions (“NI 44-102”) and changes to Companion Policy 44-102CP – Shelf Distributions (“44-102CP”) which, among other things, eliminate the requirement to obtain exemptive relief from certain regulatory requirements necessary for issuers to conduct an at-the-market offering […]
COVID-19 has caused tremendous economic loss, delays in project completion, missing of targets and milestones and potential breaches and disputes among contracting parties. Recently, in the matter of Halliburton Offshore Services Inc. vs Vedanta Limited & Anr. [O.M.P (I) (COMM.) No. 88/2020 & I.As. 3696-3697/2020], a petition seeking inter alia restrain on invocation of the […]
GvW Graf von Westphalen has advised the technology company Ubimax in the successful closing of a Series B financing round. Fielmann Ventures GmbH is joining as a new investor. In addition, one of the existing investors, Westcott LLC (Dallas, Texas), is increasing its stake in Ubimax. Ubimax is the leading provider of fully integrated industrial augmented […]
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 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 […]
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 […]
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 […]
The corona crisis is making itself felt in practically all realms of business, and of life in general. We at GESSEL continue to stand by our Clients in these unusual times, assisting them with specific issues as well as keeping track of developments in the legal environment as the Polish state seeks to soften the […]
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, […]
Vide its circular dated March 30, 2020, the Ministry of Corporate Affairs (“MCA”) had introduced the Companies Fresh Start Scheme, 2020 (“CFS Scheme”) and amended the LLP Settlement Scheme, 2020 (“LLP Modified Scheme”) to allow defaulting companies and limited liability partnerships an opportunity to file belated documents, returns etc. without charging of additional fees with […]