News
Synchronized trading when in violation of SEBI Regulations
07 March 2018
There were two groups of respondent parties – three traders and three brokers. Show causes notices were sent to the parties alleging that the parties had been buying and selling securities in the derivatives segment at a price which did not reflect the value of the underlying securities in synchronised and reverse transactions.
Limitation period for filing appeals from Orders of NCLT
06 March 2018
An appeal to NCLAT was preferred by the Appellant from an Order of the NCLT. However, such appeal was filed with a delay of 9 days after expiry of the period of limitation and the grace period provided under Section 421(3) of the Act. Accordingly, the appeal was dismissed by the NCLAT. Assailing this order of the NCLAT, the Appellant preferred an appeal before the Supreme Court.
Indian Budget 2018 – Changes proposed in Customs law
15 February 2018
In the Budget 2018 present before the Indian Parliament today (1-2-2018), the Finance Minister has proposed many changes both in the provisions of Customs Act, 1962 and Customs Tariff Act, 1985.
No registration when design a trade variation and available in public domain
14 February 2018
Rejecting plaintiff’s claim of piracy of design, Delhi High Court has on 8-2-2018 cancelled a registered design. The Court in this regard noted that the design in respect of the footwear was available in public domain before, and is only a trade variation of a sandal.
Commercial Transaction must for Court’s jurisdiction in passing off
13 February 2018
For the purpose of invoking jurisdiction of a court in a passing off action, the plaintiff is required to plead and establish that there has been a Commercial Transaction within the jurisdiction of that Court which amounts to passing-off.
Patent infringement - Technical expert allowed during cross-examination
12 February 2018
Delhi High Court has allowed defendant’s interim application regarding presence of his technical expert during cross-examination of plaintiff’s witness, an expert himself. The plaintiff had relied upon Chapter XIII Rule 4 of the Delhi High Court (Original Side) Rules, 1967 according to which witnesses were not to be present in the Court during hearing of the suit.
Budget 2018 - Key Changes for Corporate Sector in India
05 February 2018
The Finance Minister of India, made the budget speech for the Financial Year 2018-2019 and presented the Finance Bill, 2018 on February 1, 2018.
Review of FDI Policy on various sectors
03 February 2018
Union Cabinet recently approved changes in the Foreign Direct Investment Policy (“FDI Policy”) allowing further liberalisation with a view to promote and provide ease of doing business in the country. On January 23, 2018, the Department of Industrial Policy & Promotion notified the amendments by way of Press Note No. 1 (2018 Series). These amendments will come into effect from the date of the FEMA notification in this regard.
25th meeting of GST Council – Certain highlights
22 January 2018
GST Council met for the 25th time on 18-1-2018 in New Delhi. Number of decisions, including reduction in GST rates for around 29 goods and 53 services were taken while also recommending reduction of late fees payable on delayed filing of certain returns. Some procedural relaxations in respect of cancellation of registration have also been proposed.
Protection of generic word bestowed with greater degree of burden of proof
08 January 2018
The Delhi High Court in a case of trademark infringement and passing off has rejected the contention for protection of a generic word ‘AYUR’ as trademark. The plaintiff had contended that the word ‘Ayur’ is invented by them and it has no meaning whatsoever. They also pleaded that because of its extensive use it has acquired distinctness and is identifiable only with their goods.