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Introduction

In order to reduce the impact of termination of employment and to provide security to employees from sudden loss of job in the private sector, a private member bill, namely the Terminated Employees (Welfare) Bill, 2020 (“Bill”), was introduced by BJP MP Mr. Rakesh Sinha on February 07, 2020, in the Rajya Sabha. In the absence of any specific law imposing an obligation on employers to provide post-employment benefits for the period of unemployment, this Bill provides pecuniary benefits to dismissed employees to overcome the general economic hardships resulting from loss of employment. The key provisions of the Bill are summarised below: Continue Reading Analysis of the Terminated Employees (Welfare) Bill, 2020- Good intentions but is it feasible?

SC rules on limitation period for execution of foreign decrees under Section 44A

In its recent decision in Bank of Baroda v. Kotak Mahindra Bank[1], the Supreme Court has ruled on the limitation period applicable for execution of a foreign decree under Section 44A of the Code of Civil Procedure, 1908 (“CPC”), after considering the previously divergent views of different High Courts on the issue. Continue Reading SC rules on limitation period for execution of foreign decrees under Section 44A

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NCOVID-19: From detection to a cure, A regulatory overview

COVID-19 is the latest pandemic after cholera, the bubonic plague, smallpox, NIPAH, ZIKA and influenza-SARS, etc., to have accosted the world. A more aggressive variant of human coronaviruses that cause upper-respiratory tract illnesses, COVID-19 is a new disease, caused by a novel (or new) coronavirus that had hitherto not been seen in humans. The virus, having originated in China, has crossed borders and resulted in global lockdown. The race to find speedy detection and cure has begun at a feverish pace. Meanwhile, more than 300 Indians have already been diagnosed as COVID-19 positive. Six have succumbed to the disease. Continue Reading NCOVID-19: From detection to a cure. A regulatory overview

Coronavirus - COVID19- Faqs

 

The World Health Organisation (WHO) declared COVID-19 as a “pandemic” on March 11, 2020.

The outbreak and the rapid spread of COVID-19 has sent shock waves across global markets. It has disrupted supply chains, leading to the closure of several manufacturing facilities globally; serious disruption of air and sea traffic and closure of vital air routes, like the one between the US and Europe. This is turn has led to the collapse of stock markets around the world, leading to the loss of billions of dollars, which got wiped out in a matter of days. A combination of all these factors has led to a decline in the overall volume of global economic activity, forcing the world economy towards a possible recession. It is forcing Boards across the globe to confront a host of difficult questions on how business should be conducted during a global public health crisis. Continue Reading COVID-19 : OFFICIALLY A PANDEMIC

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The Green Wave - Legal Challenges, Considerations for Investors in Cannabis Industry

Marijuana or cannabis can be used to treat a multitude of diseases; more importantly, it is known to be effective in reducing pain. In countries or states where medical marijuana is legal, doctors can prescribe it to alleviate nerve pain or glaucoma, or at times to help with nausea caused due to chemotherapy for cancer patients as well as treatment of HIV patients.

Investment in cannabis/ marijuana is not new. Venture capitalist Peter Thiel’s Founders Fund invested in the cannabis industry in 2015. Pharmaceutical companies and governments have long been investing in medical cannabis and conducting scientific research into its medicinal properties. Wellness and health brand, Goop, owned by Oscar winning actor Gwyneth Paltrow, is actively investing in the cannabis industry and selling CBD Oil (a cannabis derivative with potential therapeutic/ medicinal uses). Continue Reading The Green Wave – Legal Challenges, Considerations for Investors in Cannabis Industry

Old Rules applicable to CRZ-II areas of Mumbai will soon be obsolete - Development control rules 1967

The Coastal Regulation Zone Notification dated January 18, 2019 (“CRZ 2019”), requires the respective Coastal Zone Management Plans (“CZMPs”) framed under the Coastal Regulation Zone Notification dated January 6, 2011 (“CRZ 2011”) to be revised or updated as per CRZ 2019, before being submitted to the Ministry of Environment, Forests and Climate Change (“MOEFCC”). CRZ 2019 says that until and unless the CZMPs are so revised or updated, the provisions under CRZ 2011 will continue to be followed[1].  Accordingly, suggestions/ comments on the draft revised/ updated CZMPs of Mumbai city and Mumbai Suburban District under CRZ 2019 were invited for a period of 45 days commencing from January 16, 2020.[2] After district level hearings have been conducted[3] and based on the suggestions and objections received, the CZMPs will be revised and approval of the MOEFCC shall be obtained.[4] This has specific implications for construction projects in CRZ-II areas of Mumbai.

Continue Reading Farewell to DCR 1967: Old Rules applicable to CRZ-II areas of Mumbai will soon be obsolete

Open Market for Buy-Back of Securities - SEBI

The Securities and Exchange Board of India (“SEBI”) introduced the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (the “SEBI Regulations”) with effect from September 11, 2018, which govern buy-backs undertaken by a listed company.

A listed company’s shares and other specified securities can be bought back using any of the following methods: Continue Reading Open Market for Buy-Backs: Key Considerations

KARNATAKA-GOVERNMENT’S-LEGISLATIVE-ATTEMPT-TO-TACKLE-COVID-19-OUTBREAK

The Karnataka Government is reported to have notified the Karnataka Epidemic Diseases, COVID-19 Regulations, 2020 (“COVID Regulations”), on March 11, 2020, late evening, as an attempt to contain the outbreak and spread of coronavirus, COVID-19, which was incidentally declared as a ‘pandemic’ by the World Health Organisation the same day. Issued with immediate effect and for a period of 1 (one) year from its notification, the COVID Regulations empower the district administration to put in place containment measures and also ensure the public takes special measures to prevent the outbreak and spread of the potentially fatal disease, as fears around its ramifications have reached a feverish high worldwide.

Continue Reading Karnataka Government’s Legislative Attempt To Tackle Covid-19 Outbreak

Jaypee Judgement – Assessing it’s impact on the Indian financing landscape

Background

On February 26, 2020, the Hon’ble Supreme Court delivered its judgment in the Jaypee matter, bringing to a close the long drawn litigation between two sets of competing creditor claims i.e. those advanced by certain creditors of Jaypee Infratech Limited (JIL) and those of its holding company, Jaiprakash Associates Limited (JAL).

In its ruling, the Supreme Court addressed two key issues: Continue Reading The `Jaypee Judgement’ – Assessing it’s impact on the Indian financing landscape

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Growing commercial leasing

In keeping with the trend in real estate space, both local and foreign corporates have accepted the norm of leasing spaces to conduct their business activities in India. In metro cities, demand for commercial spaces have led to time renewal of existing lease/license as well as spike in request for additional space. The demand for leasing of residential spaces, in comparison, has been as robust.

What does one keep in mind while leasing a commercial space and how important is the role of a legal advisor and other service providers in relation to such an acquisition? We have tried to sum up some of the key factor contributing to the development of this leasing sector and some of the sector specific services required. Continue Reading Growing commercial leasing, what to keep in mind.