The Securities Exchange Board of India (“SEBI”) has notified amendments to the SEBI Alternative Investment Funds Regulations, 2012 (“SEBI AIF Regulations”) on April 25, 2024, to:
Continue Reading FAQs on Regulatory Amendments to AIF Regulations (Ambiguous GAAR Style Obligations Prescribed for Managers and KMPs)
Part 1 of our Ayurvedic Medicine in Contemporary Times series discussed the regulations and clinical evaluations governing Ayurvedic drugs and proprietary Ayurvedic medicines. The recent global resurgence of Ayurveda and a renewed interest in nutraceuticals and supplements derived from natural sources has led to an increased demand for biological resources. While this trend does lay emphasis on sustainable farming practices and effective resource management, not every natural product qualifies as an Ayurvedic product despite natural biological resources, such as plants, animal extracts, and minerals, being the primary building blocks of these Ayurvedic single-ingredient drugs or compound formulations.
Continue Reading Ayurvedic Medicine in Contemporary Times: Part 2 – Spicing Up Food Products
In part III of our series on key legal considerations for establishing global capability centres (“GCCs”) in India,[1] we discuss the various factors that need to be considered to engage workforce for the GCCs.
Continue Reading Strategically building a workforce for Global Capability Centres (GCCs) in India
Google LLC (hereinafter, “appellant”) submitted its application for a patent titled “Managing Instant Messaging Sessions on Multiple Devices”[i] to the controller of patents and designs on July 13, 2007, claiming priority from a US patent application.[ii] The application discloses the feature for transferring instant messaging sessions concurrently between devices and gives users the choice to mirror / refresh sessions interrupted by idle or away states. It provides flexibility in managing instant messaging sessions and a seamless continuation of conversations.
Continue Reading Delhi HC dismisses instant messaging patent appeal
Allopathic medicine, or modern Western medicine, has always played a dominant role in contemporary healthcare systems and is currently the mainstream practice. Nonetheless, Ayurveda – one of the oldest medical systems dating back thousands of years has stood the test of time, as its followers have reposed trust in its holistic healing properties for centuries. Ayurveda translates to “knowledge/science of life” in Sanskrit and emphasises the interconnectedness of the mind, body, and spirit for optimum health and wellness.
Continue Reading Ayurvedic Medicine in Contemporary Times: Part 1 – Understanding Clinical Evaluation and Drug Development
The Biological Diversity (Amendment) Act, 2023 stands as a pivotal milestone in India’s commitment to preserving its rich natural heritage. The present article comprehensively explores the revisions made to this legislative framework and their implications on biodiversity management in the country. The Biological Diversity (Amendment) Act, 2023, (“Amendment Act”) began its legislative journey in December 2021, when the Bill was first tabled in Lok Sabha and solicited public feedback before being referred to a Joint Parliamentary Committee. The committee’s recommendations, which were submitted by December 2022, were incorporated into the Bill. It was subsequently reintroduced in Parliament and received presidential assent on August 3, 2023.
Continue Reading Navigating Change: Unravelling the Biological Diversity (Amendment) Act, 2023
This post analyses the permissibility of and key legal considerations for share-based benefits/ incentives, like ESOPs, RSUs, SARs, etc., that foreign companies offer to the employees of their Indian group companies.
Continue Reading Employee Share-based Incentives by foreign companies for employees of group companies in India: Should it be an ESOP, RSU, ESPS, SAR or Phantom Stock?
In the intricate ecosystem of global healthcare, the trust between doctors and patients forms the bedrock of ethical practice. A growing number of Indian healthcare service providers are integrating digital health technologies into their business development initiatives and operational framework, leading to an unsettling trend. Several such healthcare providers now deploy offline and online resources to set up and maintain incentive-driven patient referral networks through collaboration and partnership arrangements with healthcare institutions and practicing doctors. These arrangements are designed to attract new patients through referrals from doctors, pharmacists, and healthcare workers, who are then adequately compensated with merchandise, coupons, gifts, travel facilities and grants. This intersection of medicine and commerce raises profound ethical and legal questions, challenging the integrity of the medical profession and the sanctity of patient care.
Continue Reading Rx for Referrals: Navigating the Ethical Considerations in India’s Medical Landscape
In terms of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”), acquiring control and/or shares/voting rights of a listed company beyond the specified quantitative thresholds (i.e. initial acquisition of 25% or more of the voting rights; or subsequent acquisition by a person holding at least 25%, of more than the creeping acquisition limit of 5% voting rights in a financial year) can trigger an obligation to make an open offer to its shareholders (“Open Offer”).
Continue Reading Case-Specific Exemptions under the Takeover Regulations: Key Takeaways from SEBI’s Orders
Intellectual Property Rights (IPR) have undergone significant evolution in the recent past, and the increasing number of filings for different types of IP rights across the world show the increasing commitment of countries to foster innovation, creativity, and their desire to sustain it. In today’s rapidly evolving landscape of innovation and technology, securing intellectual property rights through patents has become paramount for businesses and inventors. However, navigating the complex realm of patent law demands a thorough understanding of existing inventions and their legal implications.
Continue Reading Decoding Patent Searches: A brief on the types and strategies