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Corporate Amicus: February 2014

This issue of Corporate Amicus is special – it brings to readers two articles. Restraining legal proceedings and rights of nominees are the two topics of discussion in the articles. The author of the first article observes that the judicial opinion is now somewhat entrenched in honouring the choice of jurisdiction in domestic contracts, unless it agitates against the very basic premises of Section 28 of the Indian Contract Act, 1872. Under ‘Notifications and Circulars’ this issue of Amicus cover press note of Department of Industrial Policy and Promotion (DIPP) revising conditions for FDI in the insurance sector and relaxation of conditions by Reserve Bank of India for third party payments for export / import transactions. High Court of Delhi has held that employees seconded to liaison office in India by foreign head office do not become employees of Indian office and this order is discussed in this issue of the newsletter. This issue also covers Competition Appellate Tribunal’s (COMPAT) Order upholding personal penalty on employees of the company after noting that the persons were involved in the process of taking coordinated action together with other producers/directors in boycotting multiplexes for release of films.

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