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Legal News

Govt turns the heat on directors in fight against shell companies

The Corporate Affairs Ministry (MCA) has now put the onus on executives of non-compliant companies— which have neglected to document e-form ACTIVE — to set the consistency record straight and if they fail they run the risk of not being eligible to be associated with compliant companies. E-form ACTIVE represents …

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SAT directs NSE to transfer Rs 687 Crore within 2 weeks to SEBI

The Securities and Appellate Tribunal (SAT) on Wednesday put a stay on disgorgement orders issued by SEBI against NSE in the co-location case.  Tribunal directed NSE National Stock Exchange of India to transfer Rs. 687.5 crore within 2 weeks. This will be kept as an interest-bearing account until the result …

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Qualcomm to renegotiate patent deals on account of monopolistic practices

US Judge ruled that Qualcomm needs to mend its business as it has utilized its monopoly in the portable chip market to extricate unnecessary charges from cellphone makers. Judge Lucy Koh, stated that Qualcomm has been mishandling its patent trove and authority over modern chip market, as a result, it …

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RERA has no jurisdiction to grant relief of refunds

The Haryana Real Estate Appellate Tribunal (HREAT), Chandigarh stated that the learned authority Real Estate Regulatory Authority ( RERA) has no jurisdiction to grant relief of refunds along with interest, as this power is only vested with the adjudicating officer. This order was given by a three-judge bench comprising of …

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AIOVA Appealed to NCLAT against CCI’S Order on Flipkart

AIOVA is a group of over 2,000 sellers selling on e-commerce marketplaces such as Flipkart, Amazon, Snapdeal, etc. All India Online Vendors Association (AIOVA) challenged the order of CCI dated November 6, 2018, wherein they rejected the allegation of abuse of market dominance and the violation of the business practice …

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Regulatory Sandbox Framework- An Initiative Launched by SEBI & IRDAI

SEBI and IRDAI have taken a similar initiative as was introduced by RBI in order to support the Fin-tech industry. RBI introduced a regulatory sandbox for startups to test their products and services. On May 20 SEBI introduced the same so as to create an atmosphere in the securities market …

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Flash Electronics accuse Royal Enfield of Patent Infringement in US court

A New Delhi based Flash Electronics India Ltd. sued Country’s largest premium motorcycle manufacturer, Royal Enfield for infringement of a component called the regulator rectifier. It is an element that converts Alternating Current into Direct Current voltage to charge batteries, power headlights, light up instrument panel, thus driving the motorcycle’s …

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2 Tech giants seek clarity on e-commerce policies putting India on hold

Terms of public policy of Amazon, Flipkart, Facebook, and TikTok are planning to meet senior officials of the Department for Promotion of Industry and Internal Trade(DPIIT), finance ministry and ministry of information technology.  The e-commerce policy talks more about data protection, which makes it mandatory for them to store all …

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DTH Firm Supports TRAI’s Move to Regulate OTT Applications

elecom Regulatory Of India (TRAI) has now deflected their course into the applications which stream TV channel shows and if the same turn into reality, then, users will have to pay for viewing a similar content on TV by means of DTH/Cable substance. Recently DTH approached TRAI complaining  about the …

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Owner of 4 companies and Chanda Kocchar’s husband prosecuted by RoC

Chanda Kochar’s husband who is the owner of four companies is being prosecuted recently by Registrar of Companies (RoC), which includes Pacific Capital Services Pvt Ltd, Chanda Urja Private Ltd and Supreme Energy. This is an outcome of a move after the regional MCA office in Mumbai held that the …

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