India notified amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021[1] (“Gaming Rules”), on April 6, 2023. This is a key step to regulate online gaming at a federal level in India.
Continue Reading India’s Online Gaming Industry bets on federal level rules
In the matter of M/s. Satra Plaza Premises Co-operative Society Limited (“Petitioner”) vs. Navi Mumbai Municipal Corporation and Ors[1]., a Division Bench of the Hon’ble Bombay High Court (“BHC”) has, inter alia, held that incorporation of a condition in the Occupancy Certificate (“OC”) by the Navi Mumbai Municipal Corporation (“NMMC”) to obtain a no-objection certificate (“NOC”) from the City and Industrial Development Corporation (“CIDCO”) was illegal and without any authority of law. Further, it quashed and set aside the order of the Municipal Commissioner cancelling the OC and the revised Commencement Certificate (“CC”) due to non-obtainment of NOC from CIDCO.
Continue Reading Municipal Corporation cannot cancel Occupation Certificate for developer’s failure to obtain NOC from land-owning authority
Even after the ‘right to property’ was abolished as a fundamental right by the 44th Amendment to our Constitution[1], it has continued as a ‘constitutional right’ by virtue of Article 300-A, which provides that – “No person shall be deprived of his property save by authority of law”.
Continue Reading Disenfranchising Majority Shareholders – Is it Constitutionally Valid?
The world today thrives on online purchases[1] and recommendations. Most of us have relied upon or submitted online reviews for a product we have purchased, food we have consumed or even a service we have availed at some point or the other. From a service provider or seller’s perspective, there are several monetary incentives attached to such online reviews and ratings. Service sectors that get the most online reviews are food delivery services, restaurants, hotels, home cleaning or repair works and the likes. In case of products, there aren’t many that are indifferent to online reviews.
Continue Reading Are Online Reviews Regulated – The Indian Narrative
Over-the-Top curated content platforms (OTT/OTT platforms) have found their niche in India. From international platforms like Netflix, Amazon Prime Video and Disney-Hotstar to home-grown streaming platforms like JioCinema, ZEE5, Voot, SonyLiv, Aha and ShemarooMe, India is a key market for one and all.
Continue Reading ‘Over-the-Top’ Interference with Curated Content in India
Ever since the stock market scam of 2001 (Ketan Parekh Scam) was brought to light, regulators have been vigilant about the use of complex corporate structures to circumvent statutory restrictions and divert company funds. After the magnitude of financial irregularities in the Ketan Parekh Scam came to light, the Joint Parliamentary Committee (“JPC”) and the erstwhile Department of Company Affairs (“DCA”) proposed steps to prevent companies from using the ‘subsidiary route’ to siphon off funds, by providing inter-corporate loans.[1]
Continue Reading The Layering Restrictions & WOS exemption – Need for Regulatory clarity
Central banks and other financial regulatory authorities are responsible for influencing major investment decisions and resource allocation through their policies. In India, the Reserve Bank of India (RBI) has joined a growing number central banks and financial regulators, who have incorporated climate change into their financial stability mandate seeking to frame prudential regulations and/or direct credit towards sustainable projects. We have analysed the recent developments in our previous posts available here and here.
Continue Reading Green Central Banks and Financial Regulators – Are they Legally Mandated?
Recently, the Supreme Court, in the case of Gaurav Agarwal vs CA Devang P. Sampat, has issued notice to the parties for adjudicating the crucial question of law pertaining to the ‘Period of Limitation’ for preferring an appeal under Section 61 of Insolvency and Bankruptcy Code, 2016 (“the Code”).
Continue Reading Limitation under Section 61 of Insolvency and Bankruptcy Code: Too Strict Interpretation of the Law?
The interplay between writ jurisdiction of high courts and private contracts involving the State or the instrumentalities of the State becomes complex when a party to the contract seeks a contractual relief from the high courts by way of a writ petition. The nuances are further enhanced based on the specific facts and circumstances of the case, the nature of parties involved, the nature of rights and obligations involved, and so on.
Continue Reading Can Article 226 be Invoked to Amend Terms of a Lease Deed? SC Says No!
Does the arbitration clause in a commercial contract becomes unenforceable due to non-payment of stamp duty, or it is preserved by the separability doctrine? This question has riddled the Supreme Court of India (“SC”) repeatedly and has resulted in contrary views being adopted by various three-judge benches. The issue has been finally laid to rest by a constitution bench of the SC through its judgment dated April 25, 2023 in M/s N. N. Global Mercantile Private Limited v. M/s. Indo Unique Flame Ltd. & Ors.[i] , wherein it held that an unstamped instrument in need of stamping is not a contract and not enforceable in law. Therefore, the arbitration clause contained therein is also unenforceable. Similarly, an arbitration agreement, which attracts stamp duty but is not stamped or insufficiently stamped, cannot be acted upon. Interestingly, the decision has not been unanimous since two Hon’ble Judges have dissented.
Continue Reading Does Non-Stamping of a Contract Render an Arbitration Clause Contained in it Unenforceable? The Supreme Court Says Yes