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News & Briefings

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.

News

Design infringement – minor variations are not sufficient defence

22 December 2016

Bombay High Court has, in a case of design infringement and passing off, granted an interim injunction order in favour of the plaintiffs. The case pertained to a design registration on copper tubes obtained by the plaintiffs, which the defendants, who were previously associated with the Plaintiffs, were allegedly infringing.

Trademark – No confusion even if marks have equal number of letters, begin and end with same letters

22 December 2016

Bombay High Court on 21-11-2016 has denied interim injunction in favour of the plaintiffs in a trademark infringement and passing off suit in a dispute in respect of the registered trade mark of the Plaintiff “ESBEDA” which was used in respect of designer leather products such as handbags, luggage, purses and wallets.

No liability on bank to pay purchase tax for accepting EXIM Scrips

15 December 2016

The Supreme Court of India has held that State Bank of India is not liable to pay purchase tax for accepting Exim Scrips (Export Import License) or Replenishment licenses on payment of premium.

Insolvency and Bankruptcy – Recent changes

09 December 2016

With the notification of the Insolvency and Bankruptcy Code, 2016, on May 28, 2016, matters pertaining to the reorganisation and insolvency resolution of corporate persons, partnership firms and individuals would now be regulated by a specialized regulatory body, i.e. the Insolvency and Bankruptcy Board of India (IBBI).

Foreign investments and enforcement of corporate guarantee

09 December 2016

Earlier last year, on May 5, 2015, the Bombay High Court, in its ruling in IDBI Trusteeship Services Limited (Plaintiff) v. Hubtown Limited (Defendant), dealt with the legalities of a foreign investment structure that involved compulsory convertible debentures (CCDs)

Arbitration proceedings commencing outside India – Applicability of new provisions

09 December 2016

Delhi High Court has held that Section 26 of the Arbitration and Conciliation (Amendment) Act, 2015 (which states that Amendment Act is not to apply to pending arbitral proceedings) not bars applicability of the said Act to proceedings which commenced outside India.

FDI in pension sector - Foreign Exchange Management Provisions, amended

09 December 2016

Pursuant to an amendment to the Consolidated Foreign Direct Investment Policy in June 2016, the Reserve Bank of India, by its Notification dated November 04, 2016, has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 as applicable to the pension sector in India.

Foreign Direct Investment (FDI) in Non-banking Finance Companies

07 November 2016

The Reserve Bank of India by its Notification dated September 9, 2016, amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000.

‘Trust Deed’ just like ‘Will’ is not an arbitration agreement

07 November 2016

Supreme Court of India on 17-8-2016 has held that ‘Trust Deed’, which provides for resolving the disputes arising between the  beneficiaries of the Trust through arbitration, does not constitutes an ‘agreement’ much less an “arbitration agreement” within the meaning of Section 2(b) and 2(h) read with Section 7 of the Arbitration and Conciliation Act, 1996.

Conversion of shares and increase of authorized share capital, when illegal

07 November 2016

In the present petition before the Supreme Court, the contention of the respondents (“Sanwalka Group”) was that the company had come under the control of the appellants (“Gupta Group”) by various actions and omissions.

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