News
Protection to Corporate Debtors for offences prior to commencement of CIRP – IBC (Amendment) Ordinance, 2019 promulgated
31 十二月 2019
In order to protect the Corporate Debtor and its assets from liabilities for offences committed prior to the commencement of Corporate Insolvency Resolution Process (CIRP), the President of India has on 28th of December 2019 promulgated an Ordinance – Insolvency and Bankruptcy (Amendment) Ordinance, 2019.
Trade restrictions at historically high levels even as many new measures for facilitating trade implemented: WTO report
26 十二月 2019
WTO Director General on 12th of December presented a report on “Overview of developments in the international trading environment”, with the WTO Members.
Personal Data Protection Bill, 2019 introduced in Parliament
13 十二月 2019
Acknowledging that the right to privacy is a fundamental right and it is necessary to protect personal data as an essential facet of informational privacy, the Ministry of Electronics and Information Technology in India has introduced the Personal Data Protection Bill, 2019 in the Lok Sabha (lower house of the Indian Parliament) on 11th of December, 2019.
Insolvency - Secured creditor opting out of liquidation process cannot sell assets to persons ineligible to be resolution applicant
11 十二月 2019
NCLAT has held that a secured financial creditor while opting out of liquidation process is barred from selling secured assets to promoters or its related party or persons who are ineligible in terms of Section 29A of I&B Code.
No Customs duties on electronic transmissions – WTO extends moratorium
11 十二月 2019
WTO Members have on 10th of December agreed to maintain the current practice of not imposing customs duties on electronic transmissions until the 12th Ministerial Conference (MC12). Members also agreed to reinvigorate the work under the Work Programme on Electronic Commerce, based on the existing mandate. The 12th Ministerial Conference is scheduled to be held on 8-11th of June 2020 in Kazakhstan.
Corporate tax cut - Taxation Laws (Amendment) Bill, 2019 passed by Lok Sabha
04 十二月 2019
Taxation Laws (Amendment) Bill, 2019 which seeks to amend the Income Tax Act, 1961 to incorporate the changes relating to reduction of corporate tax rates for domestic companies and new companies, has been passed by the Lok Sabha (lower house of the Indian Parliament) on 2nd of December. The Bill was introduced on 25-11-2019.
Arbitration – No automatic stay on challenge to arbitral award – SC strikes down Section 87
03 十二月 2019
Larger Bench of the Supreme Court has struck down the deletion of Section 26 of the 2015 Arbitration Amendment Act, together with the insertion of Section 87 into the Arbitration and Conciliation Act, 1996 by the 2019 Amendment Act, as being manifestly arbitrary under Article 14 of the Constitution of India. Section 87 provided that unless the parties agreed otherwise, the 2015 Amendments would apply prospectively to all arbitral and court proceedings.
CCI revises fees – Other amendments also made in CCI (General) Regulations
26 十一月 2019
The Competition Commission of India has revised the fees payable by any person, consumer or their association or trade associations while giving information in respect of anti-competitive agreements and abuse of dominant position, for alleged violation of provisions of the Competition Act.
No demand under Cenvat Rule 6 on electricity generated from bagasse
25 十一月 2019
Relying upon Supreme Court decision in the case of DSCL Sugar Ltd., the Delhi High Court has held that since bagasse is non-marketable, sale of electricity generated entirely from such non-excisable bagasse, will not attract demand under Rule 6(3)(i) of the Cenvat Credit Rules, 2004.
Injunction against MAKEMYTRAVEL - Correspondence with lowest rung executive is not acquiescence
18 十一月 2019
In a dispute involving MAKEMYTRIP and MAKEMYTRAVEL, the Delhi High Court has made absolute the interim injunction granted earlier by it against use of the trade mark/trade name 'Make My Travel' (word per se), MMT (letter mark) and the tag line 'Dreams Unlimited', the MakeMyTravel Logo and their website.