The Hon’ble Delhi High Court in Madhu Sudan Sharma & Ors. v. Omaxe Ltd.[1]recently held that once a party has taken objection in its written statement to the jurisdiction of the Court to entertain the suit due to
Cyril Amarchand Mangaldas
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Are TDS provisions tedious? Opportune time for simplification
The Tax Deducted at Source (“TDS”) provisions under the Indian Income Tax Act of 1961 (“IT Act”) have been the cornerstone of the country’s tax architecture. A payer (or a deductor) is expected to be vigilant at the time of…
Unfolding tax tools to invigorate resolution of companies under IBC
The Insolvency and Bankruptcy Code (IBC), introduced in 2016, was conceived as a game-changer, a potent tool to expedite debt recovery from insolvent companies within a stipulated timeframe. Eight years into its existence, the IBC has witnessed a mixed track…
EU’s Anti-Corruption Package: Insights and Recommendations for Indian Businesses
Corruption and bribery[1] are often a cross-border phenomena. Accordingly, since the early 1990s, various countries around the world have joined global efforts to combat corruption collectively. Recently, European Union (“EU”) policymakers have decided to take that combat to the…
SAT’s Verdict in FCRPL & others V. SEBI: Settling the dust on interpretation of Generally Available Information in Insider Trading Cases
Introduction:
For any information to be classified as unpublished price sensitive information (“UPSI”), it should primarily satisfy the following three criteria, (1) It should relate to the company or its securities, directly or indirectly, (2) It should not be generally…
Nomination v. Succession – SC Finally Settles the Debate
Historical Background
The longstanding debate on the conflict between the rights of nominees and legal heirs over the devolution of shares has always been the cause of much controversy and confusion despite the settled legal position holding the legal heir…
Navigating taxation of capital contributions in a sea of anti-avoidance provisions
Introduction
The intricacies of tax law often unfold through nuanced interpretations and amendments aimed at addressing loopholes. One such facet is the taxation of capital contributions by partners in partnership firms (including limited liability partnerships), as delineated under section 45(3)…
Section 120B of IPC cannot be treated as a standalone offence to attract prosecution under PMLA: Supreme Court
INTRODUCTION
In a recent judgement of Pavana Dibbur v. The Directorate of Enforcement[1], the Hon’ble Supreme Court has held that the offence of criminal conspiracy punishable under Section 120B of the Indian Penal Code, 1860 (“IPC”), will be…
‘Quasi-judicial’ role of liquidators in treating disputed claims under the IBC
The Insolvency and Bankruptcy Code, 2016 (“IBC”) is silent on the treatment of a disputed or contingent claim, which is pending adjudication before a judicial or quasi-judicial body, giving rise to a contentious issue. The decision of the Hon’ble Supreme…
Regulatory framework governing ‘foreign contributions’: Ambiguity leading to excessive stringency
The Foreign Contribution (Regulation) Act, 2010, and the rules framed thereunder regulate ‘foreign contribution’. This post examines how heightened policing calls for stringent compliance by entities receiving ‘foreign contribution’.…