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.
Prevention of misleading advertisements – Analysis of guidelines issued by Central Consumer Protection Authority
By Manan Chhabra
The article in this issue of Corporate Amicus analyses the recently notified Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022. These Guidelines issued by the Central Consumer Protection Authority seek to ensure that consumers are not deceived by exaggerated promises, misinformation and false claims pertaining to any product or service and that the rights of consumers are adequately protected. The article discusses bait advertisements, surrogate advertisements and free claims advertisements, and host of other provisions like directions for usage of disclaimers, due diligence to be conducted by endorsers, conditions when advertisements portray obvious untruths and exaggerations, etc. According to the author, this will reform the way advertisements have been carried out and perceived by consumers...
Notifications and Circulars
SEBI – UPI mechanism introduced for investors of REITs and InvITs
Punishment in case of non-compliance of National Financial Reporting Authority Rules – Provision substituted
SEBI – Reduction of timelines for the listing of units of privately placed InvITs
Ratio decidendi
NCLT has discretion to not admit financial creditor’s CIRP application even if corporate debtor is in default – Supreme Court
Lease rentals when qualify as ‘operational debt’ under IBC – Court notes payment of GST for provision of service – NCLAT Principal Bench
Amended Scheme of Compromise cannot enforce invocation of arbitration under any existing agreement in the absence of an arbitration clause in such agreement and the scheme – Bombay High Court
News Nuggets
Insolvency – Action before DRT not curtails rights under IBC
‘Commercial disputes’ – Scope clarified
Arbitration – Proceedings under Section 9 of the Act are not meant for enforcement of conditions of contract
Insolvency – Inter-creditor agreement between consortium members does not bar admission of application under Section 7 of the IBC
Insurance company cannot be held guilty of deficiency of service solely for the delay in processing/repudiating claims
Independent, Non-Executive Director shall not be liable for the acts of company if they are not involved in the daily business
Packaging of insecticides – Specific provision under Insecticides Act will prevail over Legal Metrology Act and Rules
