We are a family of strong 800+ people including 470+ professionals working from 14 locations across India.
We have a rich heritage and enduring legacy which are pivotal in shaping trust, excellence, and unparalleled legal expertise, thus building a strong reputation and a trusted brand.
We started in 1985 in a single room set up by the two founders with no prior experience of working in a law firm. Both the founders had outstanding academic records and focused on their deep understanding of the law to form the foundation of the firm.
Integrity, Knowledge and Passion are the principles that resonate with every member of our LKS family and the work that we do. These values drive us to build a community of legally sound professionals and well-serviced clients.
Everything we have accomplished over the last four decades is a result of our unique way of thinking which is deeply influenced by our core values and principles that define us.
We and our professionals consistently garner appreciation for the quality of our services and the depth of our legal expertise. This consistent acknowledgment serves as a testament to our unwavering commitment to exceed expectations.
We stay up-to-date and periodically share insightful commentary and analysis on the legal issues shaping businesses, both domestically and globally. Our opinionised articles offer fresh perspective on current burning issues, thus keeping you ahead of the curve.
Big-tech giants are under constant scrutiny by antitrust regulators globally. There is also consensus that the existing antitrust framework are not sufficient for addressing various competition and privacy challenges. As a result, different jurisdictions are working on amending their current laws to deal with the issues emanating from the practices of the giants of the digital markets. This article discusses the major legislative and policy developments being proposed in India, US, EU and UK.
The article discusses at length the recent decision of the IPAB in the case of Wisig Networks Private Limited v. Controller. Observing that the case was a victim of hurried disposal of the patent applications, the IPAB held that although certain degree of check on quantitative performance of the officers at the IPO is essential, but the qualitative performance of the officers cannot be ignored. Highlighting the importance of a reasoned order, the author is also of the view that.
The article discusses at length the recent decision of the ITAT Delhi in the case of Giesecke & Devrient [India] Pvt Ltd. v. Addl. CIT. The decision provides a major relief to the taxpayers on the rate of tax applicable on dividends paid by an Indian company to its overseas parent. The ITAT has held that tax rates specified in the DTAA in respect of dividend must prevail over the rate provided under Section 115-O of the Income Tax Act, 1961 for Dividend Distribution Tax.
The introduction of Companies (Amendment) Act, 2020 is the second attempt to decriminalize various offences, the first one being the Companies (Amendment) Act, 2019. The article discusses at length the various amendments made by the Companies (Amendment) Act, 2020 related to the Corporate Social Responsibility (‘CSR’) mandate, and their implications. It analyses issues like carry forward of excess spend, penalty for non-compliance and new thresholds for formation of CSR Committee.
The final findings issued by the DGTR are purely recommendatory in nature and come into force only after acceptance thereof and issuance of gazette notification imposing the levy within three months from the date of publication of the final findings in the gazette by the DGTR. The recent cases show that the MOF has been playing a more active role in exercising its discretion in deciding whether to impose anti-dumping duty.
Employers often arrange for various facilities such as transportation, canteen, healthcare, insurance, for their employees. The article discusses the questions as to whether the said facilities arranged by the employer amount to supply of services and whether GST is applicable on the nominal amounts recovered from the employees. The author traces the history of the controversy, right from the service tax.
Compulsorily Convertible Debentures (‘CCDs’) are hybrid instruments, being debt at the time of issue along with a certainty to get converted into equity. Since the guidelines on FDI treat CCDs as equity for the purposes of reporting to the RBI, a question arises as to whether they are to be regarded as equity capital under all other laws as well. The article discusses the question from the perspective of income-tax law, observing that the return on debt and equity have distinct treatment.
The article discusses elaborately, the recent decision of the Intellectual Property Appellate Board reaffirming the importance of the principles of natural justice in judicial and/or quasi-judicial decisions, whilst also clarifying aspects of patent law with respect to cited prior art documents and description of the invention. The IPAB criticised the Controller of Patents for having taken a contrary view as to the patentability.
The Finance Act, 2019 introduced various amendments to Indian Stamp Act, 1899. Further, the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019 was also introduced. With respect to transfer of shares where no consideration amount is involved, a cost-effective mechanism has been introduced since such transfer does not attract stamp duty. Possibility of availing benefit of this can be explored in transactions such as gift of shares.
An important facet of trade remedy investigations, especially, anti-dumping and countervailing duty investigations is that if a producer/exporter from the country facing such investigation fully ‘cooperates’, the investigating authority acknowledges this and awards a duty basis the data presented by such party. This article aims to broadly explain ‘cooperation’ and the guidelines which a producer/exporter may keep in mind to ensure that their participation is treated as ‘cooperation’
With export promotion schemes like EOU, SEZ and EPCG being challenged at the international forums, alleged to be in violation of the WTO agreement, the thrust of the government has now shifted to age old scheme of duty deferment and manufacturing in customs bonded warehouse. The article makes a case for shifting to such scheme. Discussing various aspects of the Customs in-bond manufacturing.
The article discusses at length the question as to whether ‘slump exchange’ is covered by the provisions of Section 50B of the Income Tax Act, 1961. According to the authors, the question that arises is whether only transfer as a result of ‘sale’ would be covered by the provisions of Section 50B or whether slump sale includes other forms of ‘transfer’ as well as defined in Section 2(47). Another issue that comes to light is whether transfer for non-monetary consideration can constitute a sale.
To file a divisional application in India, the parent application should include more than one invention while claims based on the same inventive concept is not allowed. Elaborately discussing various IPAB Orders, starting from the 2011 decision in the case of LG Electronics and up to the very recent decision in the case of Esco Corporation, the article examines several issues involving divisional applications.
The first article elaborately discusses a recent circular issued by SEBI that will be applicable for a scheme of merger, demerger, amalgamation or arrangement filed with the stock exchanges after 17 November 2020. The authors analyse the key implications of the circular, like additional factors which need to be considered by the audit committee, requirement of a recommendation in the form of a report from the committee of independent directors of the listed company.
This article covers a recent decision of the Gujarat High Court where the Court has reiterated that the order of the arbitral tribunal could not be challenged in writ proceedings under Articles 226 and 227 of the Constitution of India. The authors note that though the question of maintainability of writ proceedings against an order of the arbitral tribunal has been settled in a long line of decisions.
