The issuance of Compulsorily Convertible Prefernce Shares (“CCPS“) and Convertible Preference Shares (“CPS“) and conversion thereof can give rise to two kinds of taxing events for the company issuing such shares. First is when the preference shares are simply redeemed either a higher market value or lower market value. Second is when such preference shares…
RBI Master Circular on Foreign Investment in India dated July 1, 2014 (“RBI Master Circular”) which lays down the legal requirements for foriegn direct investment in Non-banking Financial Companies (“NBFCs“). As per this Master Circular, foreign investment into Non-Banking Finance Companies is allowed to the extent of 100% under the automatic route in only the following activities,…
Citation: MANU/SC/0655/2014 Decided On: August 1, 2014 Key Words: Territorial Jurisdiction, Section 138, Negotiable Instruments Act, Dishonour of Cheque, Cheque Bouncing Issue: Court’s territorial jurisdiction regarding criminal complaints for dishonour of cheque under the Negotiable Instruments Act (“Act“). Significance: The present case strikes a discordant note on certain aspects of territorial jurisdiction which have for long been considered settled by earlier decisions…
Sushmita Ravi & Vivek Verma Trading of Personal Information & Unsolicited Commercial Communications A recent judgement of the Delhi State Consumer Disputes Redressal Commission, which imposed an exemplary fine of Rs. 75 lakh on Airtel, the Cellular Operators Association of India (COAI), ICICI Bank and American Express Bank, on a complaint of consumer harassment by…
Sushmita Ravi & Vivek Verma Data Protection under the Information Technology Act, 2000 (the “Act”) As per Section 43 of the Act, if any person without taking permission from the owner or any other person who may be incharge of a computer, computer system or computer network (collectively “Computer”) accesses or secures access to such…
V. Manicka Thevar Vs. Star Plough Works, Melur AIR 1965 Madras 327 Appellant filed a suit against the Respondent for permanent injunction from manufacturing and selling certain patterns of ploughs on the ground that the same was an infringement of the Appellant’s patent. The Appellant secured an interim injunction, but, on an application filed by…
J.R. Kapoor Vs. Micronix India 1994 Supp (3) SCC 215 Respondent as well as the Appellant manufactured and sold various electrical and electronic goods. Respondent filed a suit for injunction against the use of the trade name ‘MICROTEL’, the logo ‘M’ and the Packing carton on the ground that the same is similar to it’s…