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.
Analysing Budget 2024 from the lens of Ease of Doing Business
By Noorul Hassan and Aman Gupta
Out of ten parameters of Ease of Doing Business introduced by the World Bank, this fiscal the Union Budget has focused on a certain few namely, starting a business, getting credit, paying taxes, resolving insolvency, and to an extent registering property. The article in this issue of Corporate Amicus analyses the Budget proposals and discusses changes relating to attracting foreign investments, benefits proposed in tax regime, evolution in insolvency resolution, flexible company structures, credit enhancement to MSMEs, easy exits to companies, decriminalisation of offences, and proposal to incentivize states if they lower the stamp duty rates. According to the authors, there are still certain parameters where we need to improve.
Notifications and Circulars
Form MGT-6 of the Companies (Management and Administration) Rules, 2014 amended
E-form BEN-2 of the Companies (Significant Beneficial Owners) Rules, 2018 amended
Payment to MSEs – Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 amended
Directors to update their details by 30 September – Companies (Appointment and Qualification of Directors) Rules, 2014 amended
Nidhi companies not required to use ‘Nidhi’, subject to conditions – Companies (Incorporation Rules) 2013 amended
Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 amended
Master Direction on Priority Sector Lending amended
SEBI (Foreign Portfolio Investors) Regulations, 2019 amended
Facility for Basic Services Demat Account for Financial Inclusion and Ease of Investing – SEBI circular
Information to be filed by schemes of AIFs availing dissolution period/additional liquidation period and conditions for in-specie distribution of assets of AIFs – SEBI Circular
Remittances to International Financial Services Centres under Liberalised Remittance Scheme – RBI Circular
Ratio decidendi
Properties not acquired through ‘Proceeds of Crime’ cannot be subject to attachment under PMLA – Kerala High Court
A force majeure event does not justify retention of Performance Bank Guarantee without suffering a legal injury – Delhi High Court
Legal heirs of a deceased, who was party to an arbitration agreement, are classified as ‘Legal Representatives’ under Arbitration Section 2(1)(g) – Telangana High Court
Application for termination of the Arbitrator’s mandate should be filed with the District Court, not the High Court – Telangana High Court
News Nuggets
Employment linked incentive schemes introduced
Budget 2024-25 provides the much-needed push to MSMEs
Angel tax abolished
MCA mandates companies to disclose biannually their dealings with MSMEs
MeitY considers proposing to exclude ex-ante measures from the Digital Competition Bill
FSSAI mulls mandating labelling of certain nutritional information in bigger and bolder fonts
CCI to shortly introduce revised norms under the competition rules
Telangana eyes at having its first MSME oriented policy
SEBI considering relaxing certain disclosure norms for listed entities
