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Relief For Home buyers As Insolvency Board Amends Bankruptcy Resolution Process Norms

In another move to ensure and safeguard the interest of various stakeholders, including home buyers, the Insolvency and Bankruptcy Board has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 mandating that the resolution plan for a company has to explicitly state how it has dealt with the […]

For Mutual Divorce, Supreme Court Changes 6-Month ‘Cooling Off’ Rule

The Supreme Court has relaxed the procedure of granting divorce on the ground of mutual consent by waiving off the cooling off period of six months which was earlier mandatory for couples, to get a decree of divorce. The hon’ble court while hearing the arguments in the matter of Amardeep Singh vs. Harveen Kaur (Civil […]

Right to Privacy-A Fundamental Right

In a landmark judgement, the 9 judge bench of the Hon’ble Supreme Court of India on 24th August, 2017 held that ‘Right to Privacy’ is a guaranteed fundamental right. Why was the 9 judge bench formed? This bench of the Hon’ble Supreme Court was formed after a batch of petitions were filed questioning the constitutional […]

Start-ups can raise 100% capital from FVCI- Ministry of Commerce and Industry

With an aim to ensure greater ease of doing business and to attract foreign investors to contribute in job creation and innovation, the Government of India has come up with the latest edition of its consolidated foreign direct investment (With an aim to ensure greater ease of doing business and to attract foreign investors to […]

Online fantasy sports not gambling, rules High Court of Punjab and Haryana

In a landmark ruling, the Punjab and Haryana High Court on 18 April 2017, has held that playing fantasy games online is legal and does not fall within purview of the definition of “gambling”. The order was made by Justice Amit Rawal, who laid down that fantasy sports is a game of skill as it requires a […]

Builders can not force buyers to settle the dispute through arbitration

A three-member bench of the National Consumer Disputes Redressal Commission (NCDRC) has held that it is not a compulsion for buyers to go for arbitration even if the seller-buyer agreement provides for an arbitration clause. Builders had cited changes made in Section 8 through the Arbitration and Conciliation (Amendment) Act, 2015 to make their point […]

CCI filing for ‘Combination’ approval further relaxed

The Ministry of Corporate Affairs vide notification dated 29th June 2017 exempts every person or enterprise who is a party to a “Combination”, as defined in the Competition Act, 2002 (“Act”), from giving notice to the Competition Commission of India (“CCI”) within thirty days of the proposed combination, subject to the conditions laid down in […]

Cabinet decides to abolish foreign investment promotion board

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the phasing out of the Foreign Investment Promotion Board (“FIPB”). FIPB was an inter-ministerial body under the finance ministry’s Department of Economic Affairs that processed FDI proposals and made recommendations for government approval. It was set up after India […]

Changes in definition of startup

Startup India was launched by the Government of India on 16th January 2016 to build a strong eco-system for nurturing innovation and Startups in the country to drive economic growth and generate large scale employment opportunities. In order to promote entrepreneurship in the country, the Government of India has amended the definition of a Startup. […]

Employees compensation (Amendment) Act, 2017

The Employees Compensation (Amendment) Act, 2017 received the President’s assent on April 12, 2017. It was introduced in the Lok Sabha in August, 2016. This Amendment Act amends the Employee’s Compensation Act, 1923. The amendments are as follows: The employer is required to immediately at the time of employment of an employee, inform the employee […]

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