12 Oct 2017

WHAT YOU NEED TO KNOW ABOUT PEER TO PEER (P2P) LENDING PLATFORMS:

MASTER DIRECTIONS BY RESERVE BANK OF INDIA (RBI)

Reserve Bank of India (RBI) on Oct. 4, 2017 issued a Master Direction[1] regarding the various registration/eligibility/compliance norms for P2P Lending Platforms which was a follow up action to the notification[2]  issued on 24 August, 2017 wherein RBI specified that a “non-banking institution that carries on the business of a peer to peer lending platform to be a Non-Banking Financial Company (“NBFC”).”>>

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25 Sep 2017

RBI NOTIFICATIONS ON PEER TO PEER LENDING PLATFORMS: MORE CONFUSION THAN CLARITY

Financial Newspapers (Sept.  21, 2017 edition) were widely reporting about the latest notification[1] issued by Reserve Bank of India which specified that a “non-banking institution that carries on the business of a peer to peer lending platform to be a Non-Banking Financial Company (“NBFC”).”>>

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21 Sep 2017

The Supreme Court of India (“SC”) recently delivered its first judgment [1] under the Insolvency and Bankruptcy Code (“IBC”) wherein SC has delved into (i) the circumstances which led to promulgation of the IBC and the legislative intent behind its promulgation; (ii) an in-depth examination of the provisions of the IBC relating to the Insolvency Resolution Process (“Resolution Process”) and (iii) the principles of repugnancy vis-à-vis IBC and State law. >>

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23 Aug 2017

The enactment of the Trade Marks Rules, 2017, has paved the way for formal registration of “well-known” Marks in India. Although India did recognise Well-Known marks earlier (through its Trade Marks Act, 1999, which came into force on September 15, 2003), there was no provision for their formal registration. After the 1999 Act, the Indian Trademark Registry made efforts to consolidate marks that, over a period of time, were recognised as “well-known” by various Courts, Tribunals, Registrar etc. and made available this list online which has 81 “well-known” marks. >>

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12 May 2017

It is a well-known fact that India as a country is rich in traditional knowledge (TK) which has been passed on across generations. Indian traditional knowledge is expressed in languages such as Sanskrit, Arabic, Persian, Urdu and Tamil; there is also a large body of unwritten knowledge that is passed on orally from one generation to another. Ancient traditional knowledge is vital to the identity of most local communities in India. TK also helps local communities thrive by way of culture, healthcare, trade and development, etc. TK is being commercially exploited in India and other countries by patenting. Patenting the already existing TK prejudices the interests of rightful owners and prevents others from using such TK.>>

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02 May 2017

When a patent application is filed in multiple jurisdictions, the applicant is obligated to disclose details of filing in other jurisdictions, to the Indian Patent Office. The details to be disclosed include application number, date of filing, jurisdictions/country(ies) in which the application has been filed, date of publication, date of grant, and status of the application(s). Objective of the section is to keep the controller/patent office apprised about the filing and processing of patent applications based on same or similar inventions in other jurisdictions.>>

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22 Mar 2017

The concept of Place of Effective Management (“POEM”) instead of “Place of Control and Management” (“POCM”) for determining the residential status of the companies was introduced by the Finance Act, 2015. POCM was based on place of incorporation or the place from where the company was ‘wholly’ controlled and managed. The reason for introducing the concept of “effective” management is that there may be cases where a company may have more than one place of management; however, there can only be one place of “effective” management at any point in time- and it is this place which will be used for determining the tax residency of a company.>>

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09 Mar 2017

In a constructive attempt to streamline, simplify and expedite the trademark registration processes, the Trade Mark Rules, 2017 have been notified and came into effect from March 6th 2017. In consonance with the National IPR Policy, 2016, the Rules also introduce specific provisions for Start-Ups and Small Enterprises to stimulate and promote innovation and creativity among such entities.>>

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