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.
Energy Conservation (Amendment) Act, 2022: An overview
By Kumar Panda
In the backdrop of India’s commitments made in the UN Climate Change Conference in 2021, the Central Government has recently enacted the Energy Conservation (Amendment) Act, 2022 (‘Amendment Act’) to amend the two decades old Energy Conservation Act, 2001. The move aims to strengthen the regulatory framework on energy consumption and promote energy efficiency in the country. The article in this issue of Corporate Amicus highlights the significant features of the Amendment Act like, introduction of carbon credit trading, extension of applicability to motor vehicles and vessels, prohibition of manufacture or import of certain goods, applicability to residential buildings, and increase in penalties, etc. The article concludes by stating that the actions of the Government in the recent years are aimed at advancing ‘panchamrit’ goals, as presented by India during COP26. According to the author, with renewed focus on sustainable development goals to secure future generations, we may see more policy reforms in future.
Notifications and Circulars
Ministry of Corporate Affairs (MCA) notifies amendments to various Rules to revise certain forms
Declaration of mandatory information on outer retail package - Letter by Department of Consumer Affairs
Amendments to the Credit Guarantee Fund for Micro Units notified
SEBI Circular in relation to Transaction in Corporate Bonds through Request for Quote platform by Alternative Investment Funds (AIFs) issued
SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2023, notified
Statement on Developmental and Regulatory Policies issued by Reserve Bank of India (RBI)
Enforcement regarding compliance with standards for non-carbonated water based beverages under Food Safety Regulations
Reduction in initial application fee for FSSAI license
Manner of achieving minimum public shareholding - SEBI issues Circular
Ratio decidendi
Adjudication of an avoidance application is independent of resolution of the corporate debtor, and can survive corporate insolvency resolution process - Delhi High Court
Upon forfeiture of rights under Arbitration Clause, the Court retains its power to appoint the appropriate Arbitral Tribunal - Bombay High Court
After the approval of resolution plan by CoC, an application to withdraw under IBC Section 12A cannot be entertained - NCLAT, New Delhi
News Nuggets
Insolvency - Benefit available under IBC Section 10A only when default occurs during prohibited period - Admission of date of default cannot be ignored
Insolvency - TDS payments by Corporate Debtor do not amount to acknowledgement of liability
Insolvency - Landowner is not a Financial Creditor in a development agreement
Insolvency - Upon breach of consent, nature of financial debt remains the same
Arbitration - An agreement between the parties to explore conciliation before arbitration is not mandatory in nature
Arbitration - Claims are not time barred in case of a delay in approaching the appointing authority for the constitution of the tribunal
