CASE NOTE
The Hon’ble Supreme Court recently delivered the judgement on three (3) petitions[1] that involved questions of withdrawal or modifications after the approval of resolution plan by the Committee of Creditors and filed with NCLT for its approval. The Court held that once the resolution plan is approved by Committee of Creditors and submitted to NCLT; …
Internal Investigations – Process gaps and integrity issues
Prashant Mara and Devina Deshpande
Registration of sound trade marks under Regulation (EU) 2017/2001: what is the mood music from the European judge?
On 7 July 2021, the European General Court (EGC) dissmissed the appeal brought by the German company Ardagh Metal Beverage Holdings GmbH & Co KG against the 24 July 2019 decision of the Second Board of Appeal of the European Union Intellectual Property Office (EUIPO) refusing to register the sound trade mark it had filed …
REAL MONEY GAMING AND BETTING IN FOREIGN CURRENCIES: POINTS TO BE NOTED
The layman’s perspective During the past three months, several media houses reported that almost one thousand notices have been issued by the Enforcement Directorate (“ED”) to individuals for using international credit and debit cards to bet on football league matches, remitting funds for real money gaming to overseas platforms in foreign currencies and not surrendering …
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PROCUREMENT ROUTES FOR CONTRACT
Construction contracts, in infrastructure projects mainly refer to airports, structures, bridges, roads, dams, ports, and other civil engineering activities. Historical data suggests that in most government awarded contracts, particularly of high value, the bidders tend to underbid so as to achieve the status of “L-1” with an ultimate aim of subsequently claiming additional costs from …
LEGAL CHALLENGES FACED BY E-SPORTS
INTRODUCTION The onset of the lockdown brought a halt to the world. However, the only industry which was not just unaffected by the lockdown but has also witnessed remarkable progress was eSports Industry. The advent of the digital era and the rapid increase in advancements in technology coupled with the proscription of popular virtual games …
UNCITRAL Expedited Arbitration Rules
Introduction At its fifty-first session in 2018, the United Nations Commission on International Trade Law (“UNCITRAL”) agreed that Working Group II should be mandated to take up issues relating to expedited arbitration.[1] As seen in many arbitral institutions, expedited arbitration rules set out simplified procedures which are aimed at reducing the time of proceedings as …
The Start of the Legal Period for Electronic Notifications in the Light of Judicial Decisions
Electronic notification to certain persons, including attorneys registered with the Bar Association, has become obligatory in accordance with the Article 7/a of the Notification Law numbered 7201 (“NL”). The procedures and principles regarding electronic notification are outlined in the Electronic Notification Regulation (“Regulation”) in the Official Gazette dated 6 December 2018 and numbered 30617.
Tax Consequences of Failure to Fulfill Capital Commitment Payable
Trading companies are established with the capital that the founding shareholders have committed to put into the company; this capital is essential for the establishment of trading companies. It is the most important financial duty of the shareholders to provide the capital they have committed to bring to the company in full and on time. …
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Null and Void Resolutions of the General Assembly in Joint Stock Companies
Introduction In general, cases of invalidity of general assembly resolutions fall into the categories of non-existence, nullity and annullability. The scope of this Newsletter is limited to null and void resolutions of general assemblies established under Article 447 and related provisions of Turkish Commercial Code No. 6102[1] (“TCC”).