The Draft National Digital Communications Policy, 2018
An analysis by Corp Comm Legal Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction The Department of Telecommunications has released the draft National Digital Communications Policy (“Digital Policy”) on 1 st May 2018, inviting public comments on the same.
Understanding the Concept of Cheque Bounce in India
Cheque bounces are considered as a Criminal offence in India .In this age of Internet where Internet Banking and Mobile Banking are used for Transferring Funds , there is a large section of population that prefers cheques .Dr . Gubbi Subba Rao explains the Dishonour of Cheque and Presumption in favor of the holder mentioned under sections 138 and 139 of the Negotiable Instruments Act , 1881. He also gives an exceptional view of Section 420 of the Indian Penal Code under which the punishment for Cheating has been provided according to which the person shall be punished with imprisonment of either description for a term which may extend to 7 years, and shall also be liable to fine . This video gives us the in depth knowledge of the consequences and the remedies for the same.
Data Protection in India and Europe: A Comparative Analysis
Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction The term `General Data Protection Regulations’ or ‘GDPR’ has the world baffled. EU has come up with a new set of data privacy norms which are bound to have far-reaching effects. In the aftermath of its implementation on May 25, 2018, corporates all over are revamping their data privacy policies to mirror the GDPR requirements. In the wake of data security breaches by big players such as Facebook, Paytm and Google, GDPR appears to be a strong step taken by the EU towards the maintenance of data security.
Dispute Resolution through Reference to Micro and Small Enterprises (MSME) Facilitation Council
Dispute Resolution through Reference to Micro and Small Enterprises (MSME) Facilitation Council Author: Advocate Nishant Nigam and Associate Ankit Ahuja Any Micro or small enterprise having valid EM Part -II /UAM can apply to a ‘Micro and Small Enterprises Facilitation Council’ of a the state having jurisdiction to entertain the matter regarding dispute resolution where where any buyer fails to make payment of the amount to the supplier the buyer and such amount to due to be paid shall be liable to pay compound interest with monthly rests to the supplier on that amount from the appointed day from the date immediately following the date agreed upon, at three times of the bank rate.The State Government shall establish one or more Micro and Small Enterprises Facilitation Councils where such dispute resolution takes place State / UT Notified MSEFC Rules (As of 19.03.2019) The process to apply at a Facilitation Councils (Online) The User has to Ensure that -
Proposed Amendments To The Specific Relief Act, 1963 - Impact Analysis
The underlying objective of the parties behind entering into any contract is the performance of their respective parts. If for any reason this performance fails, courts tend to award damages in order to put the affected party back to his original position. However, if for any reason damages are an inadequate remedy or it is not possible to award compensation, then a relief of specific performance may be awarded to the affected party at the discretion of the court. We have a codified enactment dealing with issue, i.e., the Specific Relief Act, 1963 (“SRA”) governing this aspect. The proposed Specific Relief (Amendment) Bill, 2018 (“Amendment Bill”) which was passed by the Lok Sabha recently seeks to alter some fundamental propositions in the functioning of the SRA. By proposing a series of changes, the Amendment Bill attempts to simplify and remove the ambiguities embedded in the current legal position.
Alternate Market Commission - A Boost for Startup Ecosystem
Bhumesh Verma, Managing partner and Soumya Shekhar, Associate Introduction Startup eco-system carries vast potential for economic activity and revenue generation in India. It has the knack to change the dynamics of the Indian economy to a large extent.
How Partnership Clarity in the Early-Stages Increases your Immunity
Author: Diksha Singh What is a 'Partnership'? A partnership is an agreement in which two or more parties are involved in the management and operation of the business. It can be of two types such as limited liability partnership and a general partnership commonly known as unlimited liability partnership in which the liability of the partners are unlimited and all the partners are held responsible for the misconduct of any one partner. Some of the partners are also known as silent partner who is not involved in the management and day to day activities of the business.
6 Mandatory Tax And Regulatory Compliances For Business
6 Mandatory Tax And Regulatory Compliances For Business Author: Associate Runa Jasia What is Mandatory Tax? As the name itself suggests, it is mandatory to pay these taxes. For example as per the Income Tax Act: It is compulsory to file an Income Tax return in India as per the Income Tax Act, 1961 .
P2P Lending - RBI's Stance on Peer-to-Peer Lending Platform
The release of the Master Directions on Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (“ Master Directions ”) was a decision anticipated since April 2016 when the Reserve Bank of India (“ RBI ”) issued a Consultation Paper on Peer to Peer (“ P2P ”) lending (“ Consultation Paper ”). The Consultation Paper contained various arguments against and in favour of regulating the P2P lending sector. Thereafter, on August 24, 2017, as a precursor to the ultimate regulations, the RBI issued a gazette notification classifying entities providing the ‘business of a peer to peer lending platform’ as a Non-Banking Financial Company (“ NBFC ”). The Notification assumes significance since the classification of a P2P lending platform as an NBFC brings such a platform within the RBI’s regulatory ambit.
All You Need to Know About ANGEL TAX
The longstanding request of the angel investors to exempt them from the ambit of “Angel Tax’ provision has finally turned into a reality. This was a bane particularly for the startup ecosystem growth. The Central Board of Direct Taxes (CBDT) has issued a notification dated May 24, 2018 exempting angel investors from the ‘Angel Tax’ ambit subject to the terms and conditions as specified by the Department of Industrial Policy and Procedure (DIPP).which is a boon to startup fraternity and will significantly boost the development prospects of the startup fraternity. The notification is retrospectively effective from April 11, 2018. The DIPP notification dated April 11, 2018 has exclusively quantified the following conditions to be satisfied by the startups for availing the ‘Angel Tax’ Exemption:
How to Protect Intellectual Property - Strategy for Startups
>Introduction Intellectual property protection should be one of the foremost concerns of a nascently set up entity, particularly a startup. Intellectual property refers to innovative creations arising out of one’s or a team’s intellectual exercise.
The Benefits Of Arbitration As A Method Of Dispute Resolution.
The Benefits Of Arbitration As A Method Of Dispute Resolution. The Benefits Of Arbitration As A Method Of Dispute Resolution. Author: Advocate Nishant Nigam and Associate Shreya Negandhi
Sexual Offences Against Children & Its Penalties
Author: Diksha Singh The Protection of Children from Sexual Offences Act (POCSO Act) 2012 was enacted to prevent children from sexual abuse and sexual exploitation. This Act of parliament received the President assent on 19th June 2012. Any person who is below the age of 18 years is considered to be a Child and will get protection under this Act. Various forms of sexual abuse has been defined under this act and it prescribes the punishment for all. Sexual abuse under this act is categorized as Aggravated, when the offence is graver in nature or is committed by specific member such as any member of armed forces or a person entrusted with the management of the child like any member of the family, doctor or a teacher that may be Government or private.
