BLC as a firm has shown that it is capable of addressing diverse set of legal issues on PE investments, RBI approvals and documentation. BLC made available quality legal counsel in a cost effective manner to us and we value their involvement in the transaction.
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Across all of our practice areas, our teams are trusted for their concrete client focus, broad experience and wealth of knowledge. The recent work below demonstrates their winning contribution to significant cases, and ability to facilitate complex transactions.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
Since the time Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (Rules) have been introduced the social media intermediaries are apprehensive of the traceability prerequisites.
The traceability requirement in the Rules is a pre-requisite that directs all significant social media intermediaries (i.e., those who have more than 50 lakh registered users in India) to identify the first originator of a message on receiving a judicial order or an order issued by a competent authority under Section 69 of the Information Technology Act. The intermediaries were given a three-month timeline to comply with the guidelines.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
Intellectual Property (IP) laws were enacted to protect the intangible creations of human intellect. IP includes designs, names, inventions, literary & artistic works, music, images, etc. For the protection of various kinds of such intangible creations, IP has been classified under the head of patents, trademarks, designs, geographical indications and copyright. IP is an intellectual’s capital, therefore, the ownership of an IP and transfer of rights to the rightful owner are crucial in the eyes of law. One must note that in the absence of an appropriate legislation for IP protection, it may be subject to misappropriation.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
Litigation Funding or third-party financing is currently a lesser-known concept in India. It safeguards the interests of those parties who are unable to finance themselves and provides a chance to the financers to get better return on their investments. The return rate on this type of investment can range from 50%-100% which is far better than any investment in traditional corporate finance deals. Covid-19 has led to widespread economic distress, resulting in parties being unable to bear the high costs of litigation. Owing to the current pandemic situation and higher return rate on investments, litigation funding might be the new normal in the country for capital infusion and resolution of disputes in both, domestic litigations as well as international disputes. In addition to the exclusive third-party funders, investment banks, hedge funds, insurance companies also invest in legal claims as an asset class.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
The decade-long battle between Google LLC and Oracle has come to an end now with the decision of the Supreme Court of the United States in Google LLC vs. Oracle America, Inc. The Supreme Court held that the unauthorized copying of Oracle’s JAVA SE API by Google was a ‘fair use’ of the declaring code and such use is not prohibited under the U.S. copyright law. The judgement of the court proceeded with an assumption, not a declaration, that JAVA SE API is a copyrightable material for addressing the issue between the parties of the case.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
Whenever two parties enter in an agreement, designating a seat of arbitration is commonly the most debatable clause of the agreement. The uncertainties in ongoing judicial decisions have further fueled this debate. Numerous options are available to parties for deciding the forum of arbitration. Earlier, international arbitration was considered as a well-established channel for arbitration. However, now, parties lack clarity and various questions pops up in their mind like can the arbitration orders of international forums be enforced by the Indian court? Is it even valid to choose a foreign seat for arbitration? And so on.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
When, apparently, everything was returning to normalcy, the deadly second wave of novel coronavirus hit the nation, overrunning all hospitals and healthcare facilities and sadly, even crematoriums. Just a year back, the virus hit India, in the month of March, creating an alarming situation around the country. The then situation was addressed by the Supreme Court, whereby, the Court took cognizance and passed an order dated 23 march, 2020 extending the limitation period for filing cases, applications, suits, appeals and other proceedings.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
Legality of online gaming such as fantasy sports has been recognized by various courts in India, however, currently, there is no specific central legislation regulating online gaming in the country. Many companies like Dream11, MyTeam11, My11Circle, etc. who are in the online gaming industry are making the most out of the judgments passed in favor of fantasy sports by advertising and claiming their games to be a “game of skill”.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
Since the time Over the top (OTT) platforms have entered the Indian market, a tussle was going on amongst the judiciary, government and media and entertainment industry for regulating these platforms. Apparently, this tussle has finally come to an end as the Ministry of Electronics and Information Technology notified the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules 2021 (“Rules”). The Rules supersede the Information Technology (Intermediary Guidelines) Rules, 2011. The applicability of the Rules will extend to OTT platforms and will also apply to intermediaries and publishers operating in India including the overseas platforms that target Indian audiences unlike the earlier rules which were applicable only to intermediaries.
Owing to coronavirus disease (Covid-19), the traditional healthcare systems in India are constantly being questioned. Physical examination and consultation with a doctor is challenging as stringent restrictions are implemented on movement of people around the country. In India, the Covid-19 pandemic has brought a swift shift from use of traditional healthcare systems to the modern technology of virtually visiting the doctor.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
A company limited by guarantee or a guarantee company is one wherein the liability of its members is limited by the memorandum and the members agree to pay a nominal amount in the event of company being wound up. Unlike the concept of shareholders holding shares and the ownership of the company, a guarantee company is owned by members called guarantors.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
‘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.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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?
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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…
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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).
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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).
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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.
Author: Gaurav Shanker, Managing Partner And Yamini Mishra, Associate |
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: