Patentability requirements in India
By Ranjan Matthew
This article aims to provide an introduction to patentability requirements and concepts relating to evaluation of inventive step as per the Patents Act, 1970, of India. Corresponding statutory provisions in India and other major patent jurisdictions of the world will also be discussed briefly along with a few case laws which helped define the judicial provisi...
Accommodation Service – A short note
By G. Gokul Kishore
Union Excise, in India, with its well-structured Tariff Schedule does not offer the liberty that Service Tax provides in so far as nomenclature of taxable services is concerned. Service Tax does not have any tariff schedule simply because from the beginning the rate of tax has been single. While the taxable activity is specifically described in the statute, there is no HSN...
By Gayatri Sridharan
Many OECD countries have some sort of formal group taxation system. No common approach to consolidation or group taxation, in general, is followed. There are usually two approaches:
Ø Consolidation system also called fiscal unity system which taxes the members of the corporate group as if they were one entity and all their profits and losses are consolidated.
Patent invalidation by way of opposition
By Gunjan Sharma
In many jurisdictions around the world, lengthy and costly litigation proceedings are, in most cases, the only way by which a patent can be invalidated. The Patents Act, 1970 (hereafter referred as “the Act”), of India, however, includes provisions whereby a person/party, referred to as opponent, may oppose a patent application before grant of patent or may o...
Data protection and outsourcing industry - A study
By Kumar Mihir
“Scientia Potenti Est- Knowledge is power”. The said maxim is apt to describe the primary business model in the 21st century when information is the key to success. With the world outsourcing its essential services to India, there is a growing clamour to ensure protection of the data and other sensitive information passed on and handled by the Indian outsourcing industry. In th...
Credit derivatives – Can India learn from the mistakes of others?
Credit derivatives will be introduced from November, 2011 in India in the form of plain vanilla single name credit default swaps (‘CDS’) for corporate bonds.
What are Credit Derivatives?
Credit derivatives isolate and separate credit risk from market risk, allowing credit risk to be hedged, traded or transferred. They efficiently distribute credit risk across the market; help institutions ...
SEBI’s Jurisdiction – A Case Report
The Securities Appellate Tribunal (SAT), on 18th October, 2011, passed an order which could have wide ramifications for the entire corporate sector. It has directed Sahara Group Companies, its promoter and directors as jointly and severally responsible to return amounts collected (mentioned as ` 19400,86,64,200/- in the order) from investors along with interest @ 15% per annum from the date of ...
'Rights over sound recordings - Indian court gets criticized for getting the law right?'
Recently, the Bombay High Court, on 25th July 2011, in the case of Music Broadcast Private Limited v. Indian Performing Right Society, upheld the rights of the music companies over sound recordings, to the exclusion of the lyricists and composers whose works were the underlying materials for the sound recording. The decision seems to have a generated some negative criticism, though in the opin...
The emerging FTA contour
Free Trade Agreements (FTAs) are instruments of bilateral trade liberalization and going by recent statistics, they have become the most popular method of pursuing liberalisation of commerce. Ever since the weakening of trade liberalization agenda at the multilateral level due to massively fragmented interests – free trade has shifted to a largely regional/bilateral plane thanks to commercial a...
Direct Taxes Code: Changing Paradigm of Tax Rules in India
The Government of India submitted the ‘Direct Taxes Code’ Bill, 2010 in the Parliament in August, 2010. The Code, expected to come into force from the next financial year i.e. 1st April 2012, is not just a regular amendment but replaces all the existing direct tax laws in India. The drafters have also worked “on a clean drafting slate”. This seems to be sufficient impetus for a deeper scrutiny ...
Input dumping originating in market Economy exporting countries
Input dumping may be described as a situation where materials or components used in the manufacturing of an exported product are purchased internationally or domestically at dumped or below cost prices, whether or not the product itself is exported at dumped prices. Such dumped input is subsequently utilized by manufacturers based in the exporting country to manufacture and expor...
Plant Variety Protection in India
What is plant variety protection and what purpose does Plant Variety Protection (PVP) serve?
Plant variety protection provides legal protection of a plant variety to a breeder in the form of Plant Breeder's Rights. Plant Breeder's Rights (PBRs) are intellectual property rights that provide exclusive rights to a breeder of the registered variety.
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(Ms. Malathi Laks...