Auction Sale Set Aside by DRT Due to Default by the Bank: Supreme Court Enhances Rate of Interest to be Paid by the Bank Along with Refund Amount to the Successful Auction Purchaser | Tenants/Appellants being Successful Bidders Reverted to the Status of Tenants and Protected from Being Dispossessed by the Bank
Apr 26, 2024
Relevant Facts: In the recent case of Govind Kumar Sharma & Anr. versus Bank of Baroda & Ors., the undisputed facts were that the Appellants were tenants in the mortgaged premises which had been put up for auction by the Respondent Bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, (“SARFAESI Act”). Appellants’ poss...
Read MoreIncorporation of Arbitration Clause by Reference: A General Reference to A Contract Would Not Have the Effect of Incorporating the Arbitration Clause in Another Contract.
Apr 22, 2024
The Supreme Court in its recent decision dated March 19, 2024, in NBCC (India) Private Limited v. Zillion Infraprojects Private Limited[1] reaffirmed the position that a dispute cannot be referred to arbitration on the basis of arbitration clause contained in a referred contract unless a specific reference was made in the main contract to incorporate the arbitration clause into the same. The s...
Read MoreFSSAI Issues Advisory dated February 21, 2024, for Time-Bound Processing of Applications for Licenses Marked for Inspections
Mar 18, 2024
The Food Safety and Standards Authority of India (“FSSAI”) issued directions for Risk Based Inspections vide order number RCD-02001/9/2021-Regulatory-FSSAI dated May 2, 2022[1]. Basis these directions issued by the FSSAI, Pre – License inspections are mandated only for the following categories of Manufacturer/Processor: Milk & Milk productsMeat & Meat productsFish & Fish prod...
Read MoreLiability of E-commerce Platforms to Comply with Consumer Protection (E-Commerce) Rules, 2020 – Abhi Traders v. Fashnear Technologies Private Limited & Ors.
Mar 16, 2024
The Plaintiff, a clothing retailer under the brand name "IBRANA," filed an interim application before the Delhi High Court against Defendant No. 1, Fashnear Technologies Private Limited, an operator of the e-commerce platform "meesho.com" and Defendants No. 2 to 10 who are clothing retailers for copyright infringement and passing off. The Plaintiff alleged that the Defendants No. 1 to 9 and an...
Read MoreStamp Duty Reduction for Mining Deeds in Goa
Mar 15, 2024
The Government of Goa via a notification dated March 02, 2024, has promulgated “The Indian Stamp (Goa Amendment) Ordinance, 2024” amending section 3A, sub-section (1) of the Indian Stamp Act, 1899 which has reduced the stamp duty on mining lease deeds by 60%. Currently, the stamp duty on mining lease deeds is calculated by multiplying the Environmental Clearance Quantity by 15 (Fifteen) times...
Read MoreMEITY Advisory for Intermediaries on Use of Artificial Intelligence Models
Mar 15, 2024
Among the first attempts to regulate the artificial intelligence landscape of India, the Ministry of Electronic and Information Technology (MeitY) published an advisory on March 1, 2024, notifying intermediaries/platforms under the Information Technology Act, 2000 and Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“Intermediary Rules”) on the use o...
Read MoreCourts Cannot Rewrite or Create a New Contract and Have to Simply Rely on The Terms and Conditions of The Agreement as Agreed Between the Parties
Mar 15, 2024
This was observed by the Hon’ble Supreme Court while deciding an Appeal filed against an order of the National Consumer Dispute Redressal Commission (“NCDRC”) rejecting the Appellant/ Buyer’s Application seeking termination of the Agreement and refund of the consideration. Brief background of the case, As per the terms of the contract, in case the Respondent fails to obtain the Occu...
Read MoreDemand Notice Sent to Cheque Drawer Via Email/WhatsApp is Valid: Allahabad High Court
Mar 15, 2024
The Hon’ble Allahabad High Court in the matter of Rajendra v. State of U.P. & Anr. whereby an application u/s 482 Cr.P.C. was filed seeking quashing of proceedings under Section 138 of the Negotiable Instruments Act, 1881 (“NI Act”), held that a demand notice sent to the drawer of a cheque through 'Email or WhatsApp' under Section 138 of NI Act for the dishonour of a cheque, i...
Read MoreNCLT cannot reject approval of Resolution Plan submitted by Successful Resolution Applicant being an ex-promoter, by rejecting the validity of the MSME registration obtained by Corporate Debtor post initiation of CIRP: NCLAT New Delhi
Mar 15, 2024
The Hon’ble NCLAT Delhi in the matter of Ramesh Shah in consortium with Masitia Capital Services Pvt. Ltd. v. Central Bank of India & Ors. vide its order dated February 29, 2024, allowed two Appeals preferred by the Resolution Applicant and the Resolution Professional, wherein the issues that arose for consideration were as follows: Whether the Resolution Applicant being an ex-promoter o...
Read MoreGujarat Labour Department Notifies Exemptions to IT-Enabled Services and Financial Services under Gujarat Shops and Establishments Act, 2019
Mar 15, 2024
Gujarat Labour Department issued a notification dated February 5, 2024, pertaining to the Gujarat Shops and Establishments (Regulation of Employment and Condition of Services) Act, 2019. It declares that establishments engaged in IT-enabled services and financial services shall be exempted from the following sections for a period of 2 (two) years from the date of notification in the Official Gaze...
Read MoreRecent Posts
- Auction Sale Set Aside by DRT Due to Default by the Bank: Supreme Court Enhances Rate of Interest to be Paid by the Bank Along with Refund Amount to the Successful Auction Purchaser | Tenants/Appellants being Successful Bidders Reverted to the Status of Tenants and Protected from Being Dispossessed by the Bank
- Incorporation of Arbitration Clause by Reference: A General Reference to A Contract Would Not Have the Effect of Incorporating the Arbitration Clause in Another Contract.
- FSSAI Issues Advisory dated February 21, 2024, for Time-Bound Processing of Applications for Licenses Marked for Inspections
- Liability of E-commerce Platforms to Comply with Consumer Protection (E-Commerce) Rules, 2020 – Abhi Traders v. Fashnear Technologies Private Limited & Ors.
- Stamp Duty Reduction for Mining Deeds in Goa
- MEITY Advisory for Intermediaries on Use of Artificial Intelligence Models
- Courts Cannot Rewrite or Create a New Contract and Have to Simply Rely on The Terms and Conditions of The Agreement as Agreed Between the Parties
- Demand Notice Sent to Cheque Drawer Via Email/WhatsApp is Valid: Allahabad High Court
- NCLT cannot reject approval of Resolution Plan submitted by Successful Resolution Applicant being an ex-promoter, by rejecting the validity of the MSME registration obtained by Corporate Debtor post initiation of CIRP: NCLAT New Delhi
- Gujarat Labour Department Notifies Exemptions to IT-Enabled Services and Financial Services under Gujarat Shops and Establishments Act, 2019