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We understand the constant need to stay informed about the latest developments in your field. In this section, we curate the most relevant and impactful updates covering developments in various laws.

Distribution of assets in liquidation – No priority for first charge holders if security relinquished

The National Company Law Appellate Tribunal (NCLAT) has held that priorities amongst the secured creditors (first charge or second charge) will not prevail in distribution of assets in liquidation, in a case where the creditors had elected for relinquishment of security interest and for distribution of assets according to Section 53 of the Insolvency and Bankruptcy Code, 2016.

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Copyright Rules 2013 amended – Electronic means of communication, annual transparency report by Copyright societies, etc.

The Department for Promotion of Industry and Internal Trade in the Ministry of Commerce and Industry has issued a notification on 30 March 2021 to amend the Copyright Rules, 2013. It may be noted that many of the changes now notified were earlier published for public comments in May 2019 through the Draft Copyright (Amendment) Rules, 2019. Some of the changes are listed below.

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Provisional attachment – Conditions prescribed by statute must be strictly followed

Observing that the power to order a provisional attachment of the property of the taxable person including a bank account, under Section 83 of the HPGST Act [equivalent to Central Goods and Services Tax Act, 2017] is draconian in nature, the Supreme Court has held that the conditions prescribed by the statute for a valid exercise of this power must be strictly fulfilled.

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Arbitration – Limitation for application for appointment of arbitrator

The Supreme Court has recently suggested that it is necessary for the Parliament to effect an amendment to Section 11 of the Arbitration and Conciliation Act, 1996, prescribing a specific period of limitation within which a party may move the court for making an application for appointment of the arbitrator under said section.

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Prayer for injunction – Practice of two separate prayers, under infringement and passing off, unwise

The Bombay High Court has deprecated the practice of setting out two separate prayers, one for infringement and one for passing off, where both seek injunction. Urging the advocates to reconsider the manner in which they frame these prayers, the Court termed the practice as ‘singularly unwise’ and counter-productive.

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Intellectual Property Appellate Board (IPAB) abolished

The Central Government has by way of an Ordinance issued last Sunday (4 April 2021) abolished Intellectual Property Appellate Board (‘IPAB’). It may be noted that a Bill for this purpose was earlier introduced in the lower House of the Indian Parliament (Lok Sabha) on 13 February 2021 but could not be taken for consideration and passing. The Tribunals Reforms (Rationalisation and Conditions of Service) Ordinance, 2021 (‘Ordinance’) seeks to amend...

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PLI Scheme for food processing industry gets Cabinet’s approval

The Union Cabinet has on 31 March 2021 approved a Production Linked Incentive Scheme for the Food Processing Industry. The scheme, with the outlay of INR 10900 crore, has the objective to support creation of global food manufacturing champions and strengthen select Indian brand of food products for global visibility and wider acceptance in the international markets.

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Technical Barriers to Trade – 20 new specific trade concerns raised – Indian measures lead the table with 5 recent measures questioned at WTO

Several of the Indian measures were questioned at the last meeting of the WTO’s Committee on Technical Barriers to Trade.

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Copyright registration is not mandatory for seeking remedy of infringement

Holding the Bombay High Court decision in the case of Dhiraj Dharamdas Dewani v. Sonal Info Systems Pvt. Ltd. and Others as per incuriam, the Coordinate Bench of the same Court has held that registration under Copyright Act, 1957 is not mandatory.

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Incentives received by travel agents from airlines and CRS companies not liable under Business Auxiliary Services

The Larger Bench of the CESTAT has held that the target-based incentives and the Central Reservation System (‘CRS’) commission received from airlines and CRS companies respectively, by the air travel agents, is not liable to service tax under the category of Business Auxiliary Services (‘BAS’). It was held that travel agents were not promoting business of airlines or of CRS companies and that incentive for achieving targets was not taxable.

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