News
Production Linked Incentive Scheme approved for Pharmaceuticals and IT Hardware
01 March 2021
The Indian Union Cabinet has recently approved the Production Linked Incentive (‘PLI’) Schemes for pharmaceuticals and IT hardware. The schemes propose production linked incentives to boost domestic manufacturing and attract large investments in India. The total quantum of incentives is INR 15000 crores for the pharmaceuticals and INR 7350 for the IT hardware sector.
Intellectual Property Appellate Board (IPAB) set to be abolished
16 February 2021
The Ministry of Finance and Corporate Affairs has on 13 February 2021 introduced a Bill in the Lower House of the Indian Parliament (Lok Sabha) which seeks to abolish various Tribunals and Authorities, including the Intellectual Property Appellate Board (‘IPAB’).
Circumvention of anti-dumping and countervailing duties – Retrospective and provisional anti-circumvention measures
03 February 2021
The Union Budget 2021 has proposed many changes by clauses 93 and 94 of the Finance Bill, 2021 in Sections 9 and 9A of the Customs Tariff Act, 1975 relating to anti-dumping and countervailing duties. As per one change, anti-dumping/countervailing duty after an anti-circumvention investigation cannot be imposed for the period before the date of initiation of such anti-circumvention investigation.
Interest on sum borrowed to repay loan utilised for construction of commercial property deductible under Section 24(b)
25 January 2021
Observing that Section 24(b) of the Income Tax Act uses the expression ‘property’ and not residential or commercial property, ITAT Bangalore has held that irrespective of the nature of the property, whether residential or commercial, deduction must be allowed under Section 24(b).
Standard Essential Patents – Confidentiality Clubs and fixing of FRAND rates – Prayer for keeping certain documents inaccessible to defendant, unacceptable
11 January 2021
In a case involving alleged infringement of Standard Essential Patent, the Delhi High Court has rejected the request for constitution of a two-tier Confidentiality Club. The plaintiff had suggested that the ‘outer tier’ documents be accessible to the advocates, experts appointed by them, as well as representatives of both parties, whereas the ‘inner tier’ documents will be accessible only to non-inhouse advocates and not to the parties as well as their officials and employees.
Arbitration – Supreme Court propounds test for non-arbitrability
04 January 2021
The Larger Bench of the Supreme Court of India has propounded a four-fold test for determining when the subject matter of a dispute in an arbitration agreement is not arbitrable. The Apex Court however noted that these tests are not watertight compartments; they dovetail and overlap, and have to be applied with care and caution.
Transfer of winding up proceedings from High Court to NCLT
22 December 2020
The Supreme Court has held that transfer of winding up proceedings from High Court to NCLT on application of financial creditor not party to proceedings before Court is permissible.
Arbitration – Two Indian parties can choose a foreign law as the law governing arbitration
18 December 2020
Observing that an arbitration agreement between the parties is an agreement independent of the substantive contract and the parties can choose a different governing law for the arbitration, the Delhi High Court has reiterated that two Indian parties can choose a foreign law as the law governing arbitration.
Designs – Transfer of design infringement suit to High Court not having Commercial Court Bench
17 December 2020
The 3-Judge Bench of the Supreme Court of India has upheld the view that the suit for alleged infringement in designs, where the defendant had in a counter claim sought cancellation of the registered design, is to be transferred to a High Court even if it does not have a Commercial Court Bench, i.e. High Courts which do not have ordinary original civil jurisdiction.
Complaint filed before Consumer Fora against builder is not barred by RERA
14 December 2020
The Supreme Court has held that the Real Estate (Regulation and Development) Act, 2016 (‘RERA Act’) does not bar the initiation of ‘consumer complaints’ by the apartment allottees against builders under the extant consumer protection laws.