Corporate Law

On April 8, 2022, in the case of Noel Harper vs. Union of India , the Supreme Court upheld the validity of certain amendments made to the provisions of the Foreign Contribution (Regulation) Act, 2010 (hereinafter referred to as the “FCRA”) which came into effect in September, 2020, clarifying that “the strict regime had become essential because of the past experience of abuse and misutilisation of foreign contribution”. ......

On March 14, 2022 the Department for Promotion of Industry and Internal Trade (“DPIIT”) reviewed the Consolidated FDI Policy Circular of 2020 (“FDI Policy”) for the purpose of allowing foreign investment in the Life Insurance Corporation of India (“LIC”), along with providing clarity and consistency in other sections of the FDI Policy including those provisions relating to real estate businesses. ... ...

In its board meeting held on 15 February 2022, SEBI has decided to change the requirement for listed companies to separate the posts of Chairperson and MD/ CEO to voluntary from mandatory. This decision has been taken in view post multiple representations from corporates and industry bodies expressing difficulties in complying with the mandate. After multiple delays, this rule shall fully come into force on 1 April 2022. We analyse SEBI’s recent decision and its implications. ... ...

The laws that govern the provision of medical advice in India play a major role in ensuring that the healthcare machinery is robust and the best interests of the patients are always kept at the forefront. Broadly, these laws attempt to ensure that general medical practitioners are free to tailor their medical advice to fit the requirements of their patients, and limit certain conduct to prevent the aforesaid discretion from resulting in adversities for the patients. ......

Gift vouchers for salons and discounts for spa visits – these are the kinds of sops routinely offered to women come March 8. But is this really what women want? One day of the year dedicated to nominally “celebrating” the achievements of a gender that makes up half the population, wrapped in pinks and frills, is nothing short of being disrespectful of the achievements and the achievers themselves. ......

The growing use of social media applications and exchange of information through these forums has provided platforms to investors that may enable the coordination of their actions to manipulate the stock market in the short-term. In January 2021, the sudden rise in shares of an American company, GameStop Corp., made headlines. Several hedge funds were short selling the shares of this company. ......

In an important judgment by the Madras High Court delivered on December 15, 2021, the Court explained the circumstances under which an aggrieved party is entitled to compensatory damages and restitutionary damages, respectively. ......

The Delhi High Court (Court) recently ruled that all food business operators must make a complete disclosure of all components and measurements used in a food product. This should include information about whether the substances are derived from plants or animals. According to the Court, everyone should be entirely aware of what they consume. ......

Limited Liability Partnerships ("LLPs") are flexible legal entities that enable partners to benefit from a joint, collaborative initiative whilst reducing their liability for the actions or inactions of the other partners. This structure combines the benefits of a partnership firm and a company in that it limits the liability of partners to their contribution and constitutes a separate legal entity like a company; while also operating based on an agreement and leaving the partners to mutually decide the nuances of the business, like the internal managerial structure. ......