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 & various Authorities as well as international laws & Courts.


201911.16
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Financial Service Provider Under IBC

Financial Service Provider Under IBC All financial service providers including NBFC have also been finally brought under the ambit of IBC. Banks are still excluded. Mandatory Permission of Regulator The regulator can only initiate proceedings under IBC against a financial service provider. Interim Moratorium There will be a suo motu interim moratorium as soon as…

201909.20
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MAT IS ABOLISHED – FM ANNOUNCES OTHER REFORMS

MAT IS ABOLISHED – FM ANNOUNCES OTHER REFORMS 🏽Corporate tax rate to be 22% without exemptions, inclusive of surcharge and cess.  🏽No Minimum Alternate Tax (MAT) applicable on such companies 🏽Effective corporate tax rate after surcharge to be 25.17 percent 🏽To attract investment in manufacturing, local companies incorporated after October 2019 will pay tax at…

201909.09
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FOOD SAFETY AND STANDARDS (ADVERTISING AND CLAIMS) REGULATIONS, 2018 – A DEEPER DIVE INTO COMPLIANCE

INTRODUCTION  The focus of the regulation is to make the Companies accountable for their claims on food products and cater to the interest of customers. The new rules issued by FSSAI are pertaining to food advertisement. Earlier, it permitted the products to have names that included words like “natural”, “fresh”, “pure” and “real”, but with…

201909.09
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IF THE APPELLANT HAD APPROACHED APPROPRIATE FORUM FOR APPROPRIATE REMEDY IN TIME WITH CONTINUOUS CAUSE OF ACTION, THEN THE CLAIM IS NOT BARRED BY LIMITATION

Insolvency and Bankruptcy Code, 2016 NATIONAL COMPANY LAW APPELLATE TRIBUNAL SANGHVI MOVERS Ltd. v. TECH SHARP ENGINEERS PVT. LTD. [Company Appeal (AT)(Insolvency) No. 118 of 2019] DATE: 23.07.2019 FACTS  In this case a winding up petition was filed before the Madras High Court as the Appellant had outstanding dues against the services provided by the Respondent….

201909.06
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NCLAT Approves Resolution Plan for Shell Companies

NCLAT Approves Resolution Plan for Shell Companies Fact SEBI had filed an appeal in NCLAT against the approval of resolution plan in Assam Company Limited by NCLT. It contested that the order of the Adjudicating authority for approval of Resolution Plan contravenes the provision as provided under Section 30(2) (e) (e) does not contravene any…

201906.20
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WITHDRAWAL OF INDIA FROM THE US’ GENERAL SYSTEM OF PREFERENCE (GSP) TRADE PROGRAM – AN IMPACT ANALYSIS

WITHDRAWAL OF INDIA FROM THE US’ GENERAL SYSTEM OF PREFERENCE (GSP) TRADE PROGRAM – AN IMPACT ANALYSIS THE GSP – AN OVERVIEW The United States has implemented a Generalised System of Preference (GSP) trade program from the 1970s, wherein it extends a preferential tariff system to developing country. It is a preferential arrangement as it…