articles
Intellectual Property Rights
Trademark battle over the word “PINK”
24 September 2014
The Chancery Division of the Community Trade Mark Court recently decided [see end note 1] against Victoria's Secret UK Ltd.
Banking & Finance, Mergers & Acquisitions / PE, Regulatory Laws
Recent FDI reforms in India
16 September 2014
Foreign funding is important to bridge the huge fund gap of investment in infrastructure in India, which in turn will spur economic growth. According to a recent report, the inflow of foreign direct investment (“FDI”) was US $ 28 billion in 2013, an increase of 17% over the previous year.
Incentive by State Government is disincentive to excise assessees
15 September 2014
The Supreme Court in Super Synotex [see end note1] case had considered the Sales Tax Incentive Scheme extended by State of Rajasthan.
International Trade & WTO
Emerging jurisprudence in export restraint measures in trade
15 September 2014
Export restraints generally refer to measures imposed by an exporting country on the export of certain goods which may take the form of export quotas, duties, and licensing or minimum price requirements.
Direct Tax
TDS default on payments made to non-residents – Disallowance @ 30%?
22 August 2014
Tax reforms can play a decisive role in supporting growth, by removing distortions, enhancing transparency and ensuring certain level of stability in the area of international taxation.
Intellectual Property Rights
Compulsory license – High Court upholds IPAB Order
22 August 2014
The Division Bench of the Bombay High Court by its recent order [see end note 1] dated 15th July, 2014 upheld the order of the Intellectual Property Appellate Board (IPAB) [see end note 2] dated 4th March, 2013 granting a compulsory license to Natco Pharmaceuticals (Natco) under Section 84 of the Patents Act, 1970 (the Act).
Corporate Advisory
Understanding Corporate Social Responsibility (CSR)
22 August 2014
The Companies Act, 2013 (CA 2013) has introduced path-breaking changes in governance mechanisms, compliances and disclosures, appointment and scope of auditors, responsibilities of independent directors, investor protection and mergers and acquisitions.
Compulsory pre-deposit & complete withdrawal of discretion to grant stay
19 August 2014
One of the important changes made as part of the amendments brought by Finance (No. 2) Act, 2014 is the amendment to the provisions relating to pre-deposit and grant of stay in Customs, Excise and Service Tax laws.
International Trade & WTO
Procedural conundrum of Indian safeguard law
07 August 2014
Even though the mechanism set up by India in applying the provisions of Article XIX of GATT and Agreement on Safeguards (AOS) in India through its domestic safeguard provisions [see end note 1] satisfy the basic requirements required for its implementation, however, when compared to other countries, there remain a lot of procedural loop-holes still to be filled in to make the safeguard investigation process more transparent and clear.
International Trade & WTO
US provisions violate WTO’s SCM agreement – DSB Panel
07 August 2014
The Panel composed by Dispute Settlement Body of the World Trade Organization (Panel) in United States – Countervailing Measures on certain Hot-rolled carbon steel flat products from India released its report on 14-7-2014. The dispute was filed by India in 2012 and it relates to WTO compatibility
Intellectual Property Rights
Registration of license / assignment deed under the Patents Act - Mandatory or not?
07 August 2014
A license agreement or an assignment deed is an agreement between a right holder and the licensee and/or assignee wherein the right holder permits the licensee and/or assignee to use rights owned by the right holder in exchange for a consideration, whether in the form of a one-time settlement or a periodic royalty.
Legal status of clarifications through Budget instructions of CBEC
23 July 2014
In this year’s budget, i.e. Budget 2014-15, the Joint Secretary, Tax Research Unit [JS (TRU)-I], Central Board of Excise & Customs [‘CBEC’ or ‘Board’], has sought to clarify the legal position involving interpretation of certain Customs and Central Excise notifications through an annexure to his covering letter [see end note 1] addressed to the Chief Commissioners and Commissioners of Customs and/or Central Excise.
Direct Tax
Tax treatment of exchange fluctuation loss on ECB
23 July 2014
One of the most apprehensive subjects for India for last couple of years has been the dwindling rupee value which besides triggering inflation and broadening the current account deficit has also augmented certain tax related issues.
International Trade & WTO
Investment protection - Investing in confidence
23 July 2014
The divergence between a nation’s domestic laws and the provisions in international treaties is not something new.
Satellite Communications Policy in India – Time to revisit and revise
23 July 2014
Recently, the Indian Space Research Organization, popularly known as ISRO, launched a PSLV C-23 rocket carrying a French Earth Observation Satellite along with four other satellites belonging to Germany, Canada and Singapore.
Intellectual Property Rights
Is new hardware required for patenting computer implemented inventions in India?
20 June 2014
Interpretation of Section 3(k) of the Patents Act, 1970 (the Act) that imposes an absolute bar on patentability of business methods, mathematical methods, algorithms and computer programs per se continues to remain a contentious issue for applicants and IP professionals in India.
Corporate Advisory
Committees under the Companies Act, 2013
17 June 2014
With an eye on improving governance the Companies Act, 2013 (2013 Act) mandates a number of Board committees for specified companies for audit, nomination and remuneration, Corporate Social Responsibility and stakeholders relationship. Clause 49 of the Listing Agreement also envisages such committees for listed entities.
How impartial is service tax law to partial constructions?
11 June 2014
Section 66E(b) of the Finance Act, 1994 enacted pursuant to the introduction of the negative list regime with effect from 1-7-2012 reads as under:
International Trade & WTO
Unforeseen developments under safeguard investigations – International standard and Indian practice
06 June 2014
By Tarun Bhati Introduction WTO Members who initiate and conduct safeguard investigations are required to abide by the requirements of both, the WTO Safeguards Agreement as well as GATT, Article XIX. Article XIX: 1(a) of GATT states, in relevant part, as follows: “If, as a result of unforese