News
Country by Country Reporting (CbCR)
28 March 2016
This reporting requirement has been brought in this budget in line with the recommendations of BEPS Action 13 and effective from April 1, 2016 (AY 2017-18).
Foreign investment in Indian companies – Amendments
04 March 2016
The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India)
Start-up India initiative - ‘Start-up’ defined
04 March 2016
The Department of Industrial Policy and Promotion (“DIPP”), in order to bring uniformity in the implementation of the “Start-up India” initiative, has identified certain enterprises to be considered as “start-ups”.
Continuance of MD who is over 70 years of age - Special Board resolution required
04 March 2016
Noticing glaring differences in the data and results depicted by the two research reports, casting a serious doubt on their authenticity and neutrality, Competition Commission of India (CCI) on 10-2-2016 has held that fluctuating market share figures of the various players show that the competitive landscape in the relevant market is quite vibrant and dynamic. The dispute related to the market share of radio taxi aggregators in the relevant market of Delhi.
Competition law – Contradictory reports on market share show vibrant competition
04 March 2016
Noticing glaring differences in the data and results depicted by the two research reports, casting a serious doubt on their authenticity and neutrality, Competition Commission of India (CCI) on 10-2-2016 has held that fluctuating market share figures of the various players show that the competitive landscape in the relevant market is quite vibrant and dynamic.
Rectification proceedings before IPAB without permission of Court trying infringement suit
04 March 2016
Deliberating on the question as to whether prior permission of the Court is necessary under Section 124(1)(b)(ii) of the Trade Marks Act, 1999 for rectification of a registered trademark, during the pendency of a suit, the Larger Bench of the Delhi High Court on 5-2-2016
Limitation for restoration application to be construed strictly
04 March 2016
Stating that Section 60 is a self-contained code in the matter of prescribing the period for making an application for restoration with reasons and circumstances which led to the failure to pay the renewal fee and as such the Controller has no power to enlarge the period the Controller held the restoration application as ‘time barred’.
Trademarks – Sales invoice not enough proof of prior use
04 March 2016
Intellectual Property Appellate Board (IPAB) has held that mere production of solitary document and that too a suspected one is not enough to establish by itself ‘prior use’ and adoption continuously for a substantial period.
Patents – Use of compound by way of particular dosage, not patentable
04 March 2016
The Indian Patent Office at Kolkata has rejected the patent application of ‘Use of 2-6-(3-amino-piperidin-1-yl)-3-methyl-2,4-dioxo-3,4-dihydro-2H-pyrimidin-1-ylmethyl-4-fluoro-benzonitrile’ for treatment of diabetes.
Budget 2016 – Certain key changes in Customs law & procedures
03 March 2016
The Indian Finance Minister presented today (29th of February) the Finance Budget for the year 2016-17.