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The latest updates on relevant areas of law, curated by our team to be the most useful to clients as well as fellow legal practitioners.

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Money laundering provisions to apply to Cryptocurrency sector

20 三月 2023

Based on the recommendations of the Financial Action Task Force (‘FATF’), the Finance Ministry, vide Notification dated 7 March 2023 has brought cryptocurrency exchanges within the ambit of the Prevention of Money Laundering Act, 2002 (‘PMLA’ or ‘Act’) by including them within the definition of ‘reporting entity’.

Trademarks – Rigours of Section 11(5) applicable even at stage of cancellation of registration

14 三月 2023

The Delhi High Court has rejected the contention that rigour of Section 11(5) of the Trade Marks Act, 1999 would not dilute the applicability of Section 11(2) or 11(3) at the stage when cancellation of a registered mark is sought.

Person authorized by the company to sign a cheque is not the ‘drawer’

10 三月 2023

The Bombay High Court has on 8 March 2023 held that the signatory of the cheque, authorized by the ‘Company’, is not the ‘drawer’ and that such signatory cannot be directed to pay interim compensation in terms of Section 143A of the Negotiable Instruments Act, 1881 (‘NI Act’), leaving aside the company.

Arbitration provision in SEZ Act will prevail over agreement between parties providing for remedy under Arbitration and Conciliation Act

07 三月 2023

In a dispute where the question involved was whether the arbitrability should be under the Arbitration and Conciliation Act, 1996 Act or under the SEZ Act, 2005, the Telangana High Court has held that since Section 42 of the SEZ Act is a statutory provision with a non-obstante clause, it would have an overriding effect over clause 23 of the development agreement between parties,,,

GST Council’s 49th Meeting – Highlights

20 二月 2023

The 49th meeting of the GST Council was held on 18 February 2023. Given here are the important recommendations of the Council.

Trademarks – Use on similar occasions do not make water guns and fireworks pistols alike

16 二月 2023

The Delhi High Court has rejected the view of the Senior Examiner that the goods, in respect of which registration of the ‘COCK’ word mark was being sought by the Appellant (water spay toy guns), were similar to the goods in respect of which the ‘COCK’ device mark stood registered (toy pistols using amorces, used as fireworks).

Budget 2023 – Changes in Customs and GST laws

04 二月 2023

The Hon’ble Finance Minister of India presented the Union Budget 2023 as usual on 1st of February. Though the pre-budget speculation that the Union Budget would bring in some amnesty scheme for direct taxes and customs, turned out to be false, the 5th and last budget of the current government has made various significant tax proposals. Few important changes in the Customs and GST laws have been highlighted below.

Trademarks – Indirect use of misleading country of origin is ‘material respect’ in definition of ‘false trade description’, which is not registrable

23 一月 2023

While examining as to whether the mark, depicting a white cross on a red background, and the ‘SWISS MILITARY’ word mark, individually or in conjunction with each other, can be registered in India in relation to textiles, footwear, etc., in Class 25, the Delhi High Court has held that false trade descriptions are not registrable.

Computers – All in one integrated desktop computer is not portable – Classifiable under TI 8471 50 00

18 一月 2023

The Supreme Court has on 17 January 2023 held that Automatic Data Processing Machines (‘ADP’) which are popularly known as ‘All­in­One Integrated Desktop Computer’ are to be classified under Tariff Item 8471 50 00 of the Customs Tariff Act, 1975 and not under Tariff Item 8471 30 10 ibid.

Recovery proceedings under SARFAESI Act will prevail over those under MSMED Act

10 一月 2023

The Supreme Court of India has on 5 January 2023 allowed an appeal against the decision of the Madhya Pradesh High Court which had held that Micro, Small and Medium Enterprises Development Act, 2006 ('MSMED Act') will prevail over Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act').

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