White Papers

LEGALOS | April,2021 Monthly bulletin of AMLEGALS which incorporates the significant issues of law including case laws to help legal decision makers to take an informed decision.The laws covered under this edition is IBC, IPR, Employment laws,Arbitration, Telecom & AIF. Readers can receive their LEGALOS bulletin in their email after they fill the form below.

The past one year has shown us all the power of Social Media to an extent beyond imagination. With COVID - 19 at its peak, Social Media only added to the fear mongering through all the conspiracy theories and rumors. Such power of Social Media has very apparent since last many years. Regardless of the fact that the news is about a certain individual or if it is about national interest, everyone has an opinion and Social Media provides a carefree platform for everyone to express it. It is often joked that news on Social Media travels faster than light. But what is the credibility of such news? How accountable one is while using Social Media? Can we make someone accountable or does it come across as a restriction to Freedom of Speech and Expression? There are several such questions that employers today look for answers to. The goodwill of an organization can be most impacted by the goodwill of an employee. Social Media can be a very important tool in making or breaking that reputation.

The Ordinance has introduced a Pre-Packaged Insolvency Resolution Process (‘PIRP’) for corporate persons who have been classified as Micro, Small and Medium Enterprises("MSME") under the Micro, Small and Medium Enterprises Development Act, 2006 ("MSMED Act"). A Pre-Packaged Scheme is an arrangement under which a Stressed Company and the Purchaser negotiate the sale of all or part of a company’s business or assets prior to the appointment of an Insolvency Professional as an Administrator. The main objective of bringing in this concept is to aid the Insolvency framework, avoid spending time and money in Court proceedings & legal battles and directly move to getting a fair resolution for the company, which was the very objective of the Insolvency and Bankruptcy Code, 2016 ("IBC") in the first place. Pre-Packaged Schemes are already prevalent in the UK and the USA and the idea behind it is to approach the Court with the already-negotiated Restructuring Plan for the company. This is being implemented in India with the motive that with a timely resolution of Stressed Companies, their actual market value can be capitalised upon without any depreciation or deterioration. We have dealt this scheme in a detailed manner in this whitepaper.

Mines & Minerals ( Development & Regulations) Amendment Bill,2021 With over 1500 operating Mines that produce almost 100 minerals, India is the second largest producer of coal and crude steel. The mining sector in India is regulated by the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). The Act was aimed at affording a mineral concession regime in the background of the metal producing public sector undertakings. The MMDR Act provides for the process and conditions for acquiring a mining or prospecting license in India. The mining of minor minerals comes under the purview of State Governments.

The new Financial Year 2021-22 brings many changes from 01.04.2021. This white paper covers such changes in GST, Direct Tax, Company Law & Employment Law. These are crucial changes which need to be addressed with a readiness to comply and to avert unforeseen liabilities in future. Entire white paper can be accessed in your inbox.

Emergency Arbitration In India Emergency Arbitration (hereinafter referred to as ‘EA’) is another Alternate Dispute Resolution (ADR) mechanism which seeks to protect the interests of the parties by the way of granting an interim relief. Though arbitration is aimed at fast tracking the process of dispute resolution and protecting the autonomy of the parties, there are various challenges encircling the proceedings, enforcement being the most pertinent. In a situation where the party urgently requires an interim measure, EA plays a pivotal role in enabling the party with such relief. The concept of EA recently came into limelight due to the tussle between Future Group and Amazon Inc. The dispute between the two behemoths primarily arose due to Future Group’s breach by transferring its retail assets to a ‘restricted person’ thereby violating the agreement. On 18.03.2021, the Delhi High Court adjudicated that "the interim relief granted in an EA was enforceable under the Indian law and further stated that no amendment in the legislative framework was necessary for upholding it." This decision comes in contrast to the precedents pertaining to EA in India. This white paper deals on an Emergency Arbitration in a holistic manner.

Corporate Social Responsibility - An Interplay There is an interplay between Companies Act,2013 and CGST Act,2017 to see as to how the eligibility of Input Tax Credit(ITC) is dependent upon Corporate Social Responsibility(CSR). The CSR is mandated by law and every company with a specified threshold as provided under the Companies Act has to incur the same and there comes the challenge of availment of ITC under CGST Act,2017

5G : The Future of Networking 5G is the crucial next step for the Indian telecommunication sector as well as the Indian economy, since the significant increase in speed of the network and the drop in latency – which signifies the amount of time it takes to reconnect to the internet once disconnected – will help immensely in grappling with the ever-increasing number of internet users as well as the number of essential services that are more dependant than ever on the Internet, in a post-pandemic world. Even aside from the infrastructural importance that 5G holds for India at this juncture, it will also, overall, bring India in line with the global mainstream, especially since 5G is intrinsically linked with and demonstrates the advancement in the ‘Internet of Things’ (IOT), which term is used to describe the way the smallest of devices, today, connect with each other and exchange data over the Internet.

This white paper deals with series of orders passed by Supreme Court in 2020 and 2021 while invoking Article 142 and 141 to make such orders applicable throughout India.Due to outburst of Pandemic COVID-19, Supreme Court excludes 15.03.2020 to 14.03.2021 from limitation period.

Code on Wages,2019 The Second National Commission on Labour, 2002 tabled a report that the existing labour laws are very complex and inconsistent in the present times. Therefore, the legislature has come up with idea of unified legislation for wages wherein two major points are deliberated as under: a.Rationalization, simplification & consolidation of the existing laws relating to labour in the organised sector; and b.Umbrella legislation for ensuring minimum level of protection to the workers in the unorganised sector.

The Information Technology (Guidelines for Intermediary & Digital Media Ethics Code) Rules, 2021 were formally notified on the 25th of February, 2021. These new, comprehensive set of Rules supersede the IT Rules, 2011 in several aspects. They allow the Government to regulate digital news media platforms, and also bring OTT Streaming Services and Social Media platforms under the regulatory ambit. The Rules have been notified and prescribed in exercise of the powers conferred on the Central Government under Section 87 of the Information Technology Act, 2000.

Gujarat Solar Power Policy,2021 The State’s solar policies has always given positive and remarkable results and with the introduction of this new Solar Power Policy, 2021, Gujarat looks ready to maintain its top position in the renewable energy arena. Besides the policy, the huge 30 GW Kutch Project is finally commencing and is said to be completed by 2025 and all of these look very promising to the industry.

AMLEGALS YEARBOOK, 2021 It deals with those laws and issues which will not only matter the most in 2021 but will also have a big impact on every business at large.

The budget 2021 has brought many facets and amongst these, the prominent being subjective Input Tax Credit under CGST Act,2017 and refund on exports under IGST Act,2017. To know as to how it impacts and also how a retrospective amendment in Section 7 originated, refer this white paper.

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