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.
Corporate Social Responsibility and implementation agencies
By Sudish Sharma and Shikha Thakkar
Corporate Social Responsibility (“CSR”) was introduced under the Companies Act, 2013 to discharge social responsibility through innovative ideas and management skills. Companies (Corporate Social Responsibility Policy) Rules, 2014 in this regard empower the board of directors to undertake the CSR activities of a company through implementing agencies. The High-Level Committee recently addressed certain issues like eligibility of international organisations and registration of these agencies. The article in this issue of Corporate Amicus discusses at length the recently released draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 which are yet to be notified. According to the authors, the Draft Rules are a ray of hope in regulating these implementation agencies and ensuring a greater transparency by formulating the registration process. The authors believe that the inclusion of international organizations is a welcome initiative as these organisations have abundant technical resource and greater experience on international footing. They conclude by stating that effective partnerships between companies and implementation agencies is likely to place India’s social development trajectory on a faster track...
Notifications and Circulars
Fair Practices Code for Asset Reconstruction Companies
RBI to administer Foreign Exchange Management (Non-debt Instruments) Rules
SEBI – Procedural guidelines issued for Proxy Advisory Firms
SEBI One Time Settlement Scheme, 2020 introduced
Mechanism for margin obligations to be given by way of pledge / re-pledge in depository system implemented from 01-08-2020
Transfer of shares in insurance companies – IRDAI issues clarification
Industrial Disputes and Certain Other Laws (Karnataka Amendment) Ordinance, 2020 promulgated to amend the Industrial Disputes Act, 1947, the Factories Act, 1948 and the Contract Labour (Regulation and Abolition) Act, 1970
Public procurement – Restrictions on bidders from countries which share land border with India
Debenture Trustee can file a petition under Section 7 of IBC on behalf of Financial Creditor-Debenture Holder – NCLT Mumbai Bench
Timelines under Section 29A of Arbitration and Conciliation Act, 1996 have retrospective effect from 23-10-2015 – Delhi High Court
Dispute as to title of shares cannot be decided in proceedings under Section 241/242 of Companies Act, 2013 – Supreme Court
News Nuggets
Execution proceedings – Delhi High Court formulates detailed affidavit of assets and income of judgement-debtor and lays down guidelines for Executing Court
Consumer Protection Act, 2019 comes into force from July 20 and 24, 2020
RBI Circulars on loan moratorium are not applicable to mutual funds and debentures
Insolvency – IBC Section 10A applicable even for applications filed before promulgation of Ordinance inserting said sections
Report by the Committee of experts on Non-Personal Data Governance Framework – Non-Personal Data defined
Lockdown – Supreme Court extends time periods prescribed under Arbitration and Conciliation Act, 1996, Commercial Courts Act, 2015 and for service of notices, summons etc
Unpaid instalment of a settlement agreement is not ‘Operational Debt’
Contractual workers also entitled to benefits under the Maternity Benefits Act
Writ Petition maintainable against private bank for enforcement of RBI Circular on loan moratorium
