Legal Intelligence Series
“Legal intelligence Series” is an article blog of AMLEGALS. It  focuses on legal updates and latest changes in Goods & Services Tax in India(GST), Indirect Tax, Arbitration, Insolvency & Bankruptcy (IBC), IPR- Patents, Trademark & Copyright, Contract Laws, Corporate Laws, miscellaneous laws in India etc.
This blog of our law firm has updates on recent case laws of Supreme Court of India, different High Courts of India, Tribunals(NCLT,NCLAT,CESTAT,etc) & various Authorities as well as international laws & Courts.


RBI Announcement in Covid-19 Phase in India
202003.27
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RBI Announcement in Covid-19 Phase in India

RBI Announcement in Covid-19 Phase – A Bold Move The Governor of Reserve Bank of India on 27th March,2020 has declared various economic reforms to bring stability and liquidity in Indian economy and to sustain businesses at large. The reduction of repo rate by 0.75% to make it 4.40% may bring stability and support to…

Financial Package and Reliefs During Covid-19
202003.26
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Financial Package and Reliefs During Covid-19

Financial Package and Reliefs During Covid-19 The Finance Minister has extended further relief by way of Pradhan Gareeb Kalyan Yojana. on 26th March, 2020 The details of the package are as under: A. Package of 1.70 Lakhs Crore under Pradhan Mantri Gareeb Kalyan Yojana B. Packages: a. DBT (Cash):- 1. Farmers – Rs.2,000 first installment…

Threshold enhanced with force majeure awaited in IBC due to COVID-19
202003.24
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Threshold enhanced with force majeure awaited in IBC due to COVID-19

Threshold enhanced with force majeure awaited in Insolvency & Bankruptcy Code(IBC) due to COVID-19 In order to check the economical slowdown in the business, the Finance Minister on 24th March,2020 has announced various reliefs and relaxations in IBC due to the pandemic outburst of Covid-19 as below: 1.Threshold limit enhanced– The lockdown and pandemic outburst…

IBC – Threshold Limit for CIRP to be Enhanced
202003.11
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IBC – Threshold Limit for CIRP to be Enhanced

IBC – Threshold limit proposed to be enhanced for CIRP At present Rs 1 lakh is the threshold limit to file an application in NCLT for triggering the incidence of Corporate Insolvency Resolution Process(CIRP) under Insolvency & bankruptcy Code,2017(IBC). This had resulted into flooding of applications in NCLT. In last three and half year, approx….

Covid-19 & Force Majeure
202003.10
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Covid-19 & Force Majeure

 COVID-19 & FORCE MAJEURE 1.What’s Force Majeure in Indian law? Force majeure means extraordinary events, situations or circumstances beyond human control such as an event described as an act of God or superior force. They obstruct the continuation or lawful existence of a contract amidst the parties.                 …

Vivad se Vishwas-a lifetime opportunity to settle litigations
202002.18
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Vivad se Vishwas-a lifetime opportunity to settle litigations

INTRODUCTION  The Finance Minister Ms. Nirmala Sitharaman during her maiden budget, presented on 1st February, 2020, declared an amnesty scheme namely “Vivad Se Vishwas” – A Dispute Resolution Scheme 2020” (hereinafter referred to as “the Proposed Scheme”). The Proposed Scheme aims to settle the unresolved issues pertaining to Direct Tax regime, i.e. Income Tax Act,…

IGST on Ocean Freight are Ultra vires & Unconstitutional
202001.25
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IGST on Ocean Freight are Ultra vires & Unconstitutional

Notifications levying IGST on importer on component of Ocean Freight are Ultra vires & Unconstitutional In the HIGH COURT OF GUJARAT MOHIT MINERALS PVT LTD. v. UNION OF INDIA & 1 other(s). R/Special Civil Appln. Nos. 726 of 2018, 1984, 1988 of 2019 & Oths. DATE: 23.01.2020   ISSUES Whether Notification No. 8/2017-Integrated Tax (Rate), dated 28.6.2017 and Entry 10 of the…