The Union Government notified Part I of Chapter IV of the Finance Act, 2019 ("Amendment") and promulgated the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019 ("Rules") which came into effect on 01 July, 2020.

‘I agree’, ‘Accept’ and ‘Proceed’ are some of the familiar terms to the modern and tech savvy world. These pop-ups are quite frequent while browsing the internet, these might appear like a barrier, but a mere click is what we need to get rid of it. However, there’s more to it than just a click. By clicking on or accepting these pop-ups, one agrees to the terms of the website and grants its consent to be bound by an agreement with the website owner. These are known as clickwrap agreements and their validity and enforceability is very well recognized by the Indian courts and under the Indian Contract Act, 1872.

Most of the industries around the world are witnessing a revolution post the introduction of the new normal.

Special purpose acquisition companies (“SPACs”) have been popular in the western countries for a while, especially in the US, however, it is lately becoming popular among the investors and sponsors in the Asian market. India has already witnessed some SPAC transactions while, Hong Kong is all set to join the SPAC race by the end of 2021. As far as SPAC listing is concerned, currently, among the Asian countries, only Malaysia and South Korea allow SPAC listings, however, Singapore Exchange Ltd. is looking forward to allow such listings. Undoubtedly, due to extreme market volatility in the world economy, amidst the global Covid-19 pandemic, SPACs have witnessed an exponential growth in the US and Asian market. But what is the big deal about them?

India was the 9th largest recipient of foreign direct investment (FDI) in 2019 according to the World Investment Report 2020 by the UN Conference on Trade and Development (UNCTAD) with 51 billion dollars of inflows during the year. Many countries worldwide, including India, experienced a significant downfall in the investment market due to the prevailing COVID-19 pandemic. However, as per the UNCTAD report, a lower but, positive economic growth in India is expected, which may attract market-seeking investments even in the post-pandemic period. Indian industries experiencing a surge during these times are expected to attract major FDI in sectors such as health…

The Department of School Education and Literacy, Ministry of Education, on 5th October, 2020 issued Standard Operating Procedure (SOP)/guidelines for reopening of schools. This has been issued by the Central Government as per para -1 of Ministry of Home Affairs (MHA) order no. 40-3/2020-DM-I(A) dated 30.09.2020 for reopening, States/UT Governments may take a decision in respect of reopening of schools and coaching institutions after 15.10.2020 in a graded manner in consultation with the respective schools/institutions management and based on local situation.

The whole planet is witnessing a crisis due to novel coronavirus and so is the global economy. It is not a lesser known fact anymore that these exceptional circumstances are having a major effect on the worldwide business transactions. Quite similar is the scenario for merger and acquisition (M&A) transactions.

Due to this crisis, the buyers and sellers have been thrown in at the deep end. Undoubtedly, it is a hard time for them as they are now required to gear up to deal with the new risks and uncertainties posed by coronavirus (COVID-19).

In the wake of COVID-19 pandemic, the Indian government has been taking proactive measures. Various relaxations have been introduced by the government in most of the sectors to put people and businesses at ease.

Under these exceptional circumstances, the Department of Telecommunication (DOT) took a vital step by relaxing the conditions concerning the ‘work from home' (WFH) facility available to Other Service Providers (OSP) under the prevailing OSP Terms and Conditions (OSP Guidelines).

Amidst all the chaos due to coronavirus, the corporate world is adapting (rather adjusting) to the new ‘work-from-home’ culture to ensure business continuity. This new culture has escalated the use of Skype, Zoom, WebEx and other video conferencing service providers. Due to coronavirus, the use of video conferencing applications is not limited to business/office meetings anymore, people are using them for college lectures, yoga classes, video chats with friends and family, etc. With unprecedented circumstances around the world, remote video conferencing is already a trend now.

However, considering the current situation, companies, may overlook their privacy and security while using any video conferencing application or software for remote working, which may have possible consequences.

With the COVID cases rising at high pace, the Government of India as a precautionary measure, has announced a nationwide shut down which has brought businesses to a standstill. 

In order to protect interest of the employees and contract workers, Government of India has issued various orders and advisories. The Ministry of Labour & Employment issued a circular advisory providing relief to workers and employees in this time of the pandemic. Some of the key points of the advisory are:

In India, import, manufacturing, sale and distribution of drugs and medical devices is regulated under the Drugs & Cosmetics Act, 1940 (the Act), Drug & Cosmetic Rules, 1945 and Medical Devices Rules, 2017. The registration of both drugs and medical devices are processed by the Central Drug Standards Control Organisation (CDSCO) under the Directorate General of Health Services, Ministry of Health and Family Welfare. CDSCO serves parallel function to the European Medicines Agency of the European Union, the MFDS or KFDA of Korea, the PMDA of Japan, the Food and Drug Administration of the United States and the Medicines and Healthcare products Regulatory Agency of the United Kingdom.

The outbreak of coronavirus has caused, and continues to cause, uncertainty for organisations operating in the region alongwith the businesses across the world that rely on China for trade, manufacturing and supply chain. Due to the shutdown, mandatory quarantine for travelers and the country’s focus on controlling the outbreak, those who do business in the region are facing growing uncertainty and volatility in the market.

Businesses who have been affected are now seeking to understand their rights and obligations and any relief that might be available to them. Often the first thought that comes to mind in such circumstances is a ‘force majeure’, ‘frustration’ or impossibility clause, which is typically agreed between parties in manufacturing and supply contracts to allow a period of relief to the performing party from the consequence of any circumstances that may arise which are beyond their control.

The Cabinet Ministry has announced series of reforms through press release dated 28 th August 2019 1 , towards development of commerce and industry in India and as cabinet minister Piyush Goyal said, with an aim to “liberalise and simply the FDI policy to provide ease of doing business in the country, leading to larger FDI inflows and thereby contributing to the growth of investment, income and employment”. The press release introduces reforms in four major sectors, i.e. coal mining, contract manufacturing, digital media and single brand retail trading.

A Non-Banking Financial Company (“NBFC”) is a company registered under the Companies Act and engaged in the business of loans and advances, acquisition of shares/bonds/securities, leasing, insurance business, etc.

Typically NBFCs do not accept public deposits, however, upon procuring approval from Reserve Bank of India (“RBI”), they may accept public deposits. The Reserve Bank of India Act, 1934, (“Act”) defines “non-banking financial institution” (“NBFC”) as any one of the following entities:

The Central Government in exercise of its powers has amended the Companies (Incorporation) Rules, 2014 and on 21st February 2019 introduced the Companies (Incorporation) Amendment Rules 2019 (Amended Rules) that came into force with effect from 25th February 2019. The Amended Rules have been initiated to identify those companies that are registered under the Companies Act but are not performing any business activities. The Amended Rules has inserted a new rule “Active Company Tagging Identities & Verification (ACTIVE)” to the Companies (Incorporation) Rules, 2014, directing every company incorporated on or before 31st December 2017 to file e-form “INC-22A” with zero fees on or before 25th April 2019.

A company’s activities and direction are headed and managed by its directors. These directors are directly responsible for the growth of the company and better management, including formulating long-term plans and managing day-to-day activities. The Companies Act, 2013 (“Act”) recognises various classes/categories of directors, however, such classes can be classified under two broad categories, i.e., ‘executive director’ and ‘non-executive director’.

The sexual wellness industry or the adult products industry is a multi-dollar industry worldwide, however, its market in India is barely touched and not fully utilised. The moral, cultural and legal connotations attached to such products create hindrance to market them in India. E-commerce platform offer privacy, discreetness, convenience, home delivery options, affordable pricing etc. which make them suitable for dealing in such lifestyle products. In recent years, very few start-ups have been able to launch online stores dealing in sexual wellness and lifestyle products such as condoms, lubricants, gels, products meant to promote sexual pleasures such as adult toys, role play costumes, board games etc.

In essence, starting a new venture (start-up) can be both exhilarating and thrilling. But it can also be cumbersome since various obstacles originates while starting acompany from basics. Such hurdles may be statutory such as incorporation of a company or may relate to other aspects of business such as procuring financing. It is often seen that people miss or forget some fundamental steps while processing their business incorporation and growth. Fear not, following key points will help you guide through the legal pits towards setting up of your business:

Cloud kitchens, aka ghost or virtual kitchens, are the recent addition to the rapidly growing Food and Beverage Industry. Based on the model of no dine-in and take-away services, the concept of cloud kitchens has gained enormous popularity and success in recent years with an astonishing projected market size of USD 1.05 billion by 2023. These estimates are also supported by food delivery industry’s growth rate of 150% in recent years. Unlike the traditional restaurants having a brick and mortar shop set- up, cloud kitchens function on internet-based delivery system by bringing the brand to the customers instead of the customers coming to the brand.

Non-Banking Financial Companies (“NBFC”) are broadly categorised under the following three categories. These three categories are taken together to frame policies and framework that govern the operations and future of the respective NBFC.