27 Aug 2019

After years of defiance, the Board of Control for Cricket in India (BCCI) seems to have finally caved in by agreeing to come under the ambit of National Anti-Doping Agency (NADA) to avoid isolating itself from the global sports fraternity. Going forward, (subject to official confirmation) like any other athletes of other sports federations, Indian cricket players would be subject to World Anti-Doping Agency’s (WADA’s) Anti-Doping Code. Though there has been no official confirmation to that effect from either side, it seems that there is no way out for BCCI anymore.>>

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23 Aug 2019

Increased IP awareness and the consequent surge in the rate of patent filings have failed to deliver on the effectiveness quotient of IP enforcement in the market. This has necessitated thorough scrutiny by the Indian Patent Office (IPO) to deter applicants from getting grant on inventions that might not be able to stand a trail in the Court of Law if its discussed. Therefore, drafting a patent application (specification) plays a crucial role in the success of an invention. From acceptance to infringement actions, the content and quality of the draft determine the fate of the invention. An inventor may know his invention well but might not be able to explain it in a manner compliant to the requirement of the patent office. In such scenario, professional assistance from an experienced patent practitioner is sought and it is expected of them to understand the technical complexity of the invention at hand and have the desired foreseeability to help the invention survive the various tests >>

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16 Aug 2019

The Hon’ble Supreme Court, in a recent judgement, answered the question of whether “special allowances” would fall within the expression “basic wages” for Provident Fund (PF) contribution in the affirmative. Interpreting the provisions of Employees Provident Funds and Miscellaneous Provisions Act, 1952 (“PF Act”) as a beneficial social welfare legislation, the Court affirmed the PF authorities’ factual conclusion that the allowances in question were essentially a part of the basic wage camouflaged as part of an allowance so as to avoid deduction and contribution to the provident fund account of the employees. In essence, the Court reiterated the principle laid down in prior rulings that where the wage is universally, necessarily and ordinarily paid to all across the board, such emoluments are basic wages and employers had to expressly prove the special treatment in the special allowance for it to be kept out of the purview of calculations for PF purposes.>>

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12 Aug 2019

The government has introduced a slew of tax measures in the union budget 2019 directed at taxing rich individuals and entities. One of these measures was the proposal to levy tax on listed companies when they buy back shares from the shareholders. The imposition of 20% tax on share buyback which was earlier applicable only to unlisted companies drew in a lot of flak and concerns from corporate giants. The stipulation was brought in as an anti-abuse provision to discourage buyback of shares and encourage dividend distribution to shareholders in case of surplus earnings by a companyThere was a feeling that listed companies took to the buy-back route to avoid paying the dividend distribution tax (DDT) pegged at an effective rate of 20.5576%. Therefore, it was deemed essential to plug this loophole that corporates were exploring to evade taxes. However, it is unfair to look at the corporate action of share buyback from such a narrow perspective. Apart from being a tax saving option, buyback also increases earnings per share of the company, avail positive debt-equity ratio and facilitates an exit route to shareholders. On that account, the government needs to issue clarification regarding the applicability of the announcement to existing buyback proposals and other legal implications of the same >>

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09 Aug 2019

A conducive intellectual property (IP) environment and facilitation of innovation ecosystem have furthered India’s ranking in international indices. Similarly, in the domestic scenario, increased awareness, expanding business incentives and administrative reforms have shown marked progress in the Indian IP regime. The Annual Report 2017-2018 which was recently released by the Office of the Controller General of Patents, Designs and Trademarks (CGPDTM)[i] establishes, through statistics, the improvement that the office has seen in the past year. Through this post, we look at the headway the office has made in its patent activity in the reported year.>>

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07 Aug 2019

The looming crisis concerning Non-Banking Financial Companies (NBFC) necessitated some quick action on the part of the government to stabilize the shaking consumer confidence on the shadow banking sector. Although scholars are still confident of the sector’s performance as a whole but delayed disbursement caused by liquidity crunch was seen as a cause of concern that required quick redressal to attain balance.  >>

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01 Aug 2019

While most debates surrounding the existence of a person before birth and after death are theological or philosophical in nature which could go on endlessly, the debate concerning the right of a yet-to-be-existent person needs to be settled conclusively. Especially, ascertaining property rights of an unborn is essential as it has a direct implication on the rights of other existent individuals. Although the Indian laws recognize the existence of an unborn as a legal person, rights are not granted until the birth of the child. Further, while a child in a mother’s womb is considered as a person for many purposes, the extent of the unborn child’s personal or proprietary rights has not been categorically determined. The unborn is regarded by legal fiction as already born for creation of interest in a property.>>

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