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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.
Electronic execution of contracts in the time of pandemic COVID-19
By Kumar Panda
COVID-19 crises has posed a challenge for execution of contracts. The article in this issue of Corporate Amicus hence does an in-depth analysis of electronic execution of contracts. It not only elaborately discusses the governing laws of contracts in India, i.e. Indian Contract Act, 1872, the Information Technology Act, 2000 and the Indian Evidence Act, 1860, but also touches upon many case law on the subject. The author in this regard also discusses various type of electronic agreements - ‘Click-wrap Agreements’, ‘Shrink-wrap Agreements’ and ‘Browse-wrap Agreements’. Further, according to the author, considering the ease of execution coupled with the enforceability, there is an increased recognition for these forms of execution. However, parties must carefully analyse other implications such as payment of stamp duty, etc. The article also states that it is also necessary to deal with notarization of e-contracts as e-notarization has not been recognized in India so far...
Notifications and Circulars
Name reservation and re-submission for companies and LLPs – Time limit extended
Annual General Meeting (AGM) by Companies whose financial year ended on December 31, 2019 can be held by September 30, 2020
COVID-19 Regulatory Package – Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets
FDI from neighboring countries - Foreign Exchange Management (Non-debt Instruments) Rules amended
Acquisition of equity after renunciation of rights - Foreign Exchange Management (Non-debt Instruments) Rules amended
COVID-19 - Meetings (AGMs and EGMs) through Video Conferencing or Audio-Visual Means
Rights issue – Relaxations from certain provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
Export of goods and services – Realisation and repatriation of export proceeds – Relaxation
Mutual Funds - Relaxation in compliance with the requirements
Ratio decidendi
COVID-19 is a force majeure event justifying injunction on invocation of bank guarantees – Delhi High Court
SARFEASI Act is applicable to Cooperative Banks – Supreme Court
News Nuggets
Competition Commission of India issues advisory to businesses in the backdrop of COVID-19
Approved Resolution Plan whether binding only on stakeholders involved in Resolution Plan – Amendment in Section 31(1) of IBC prospective
Employee cannot choose a combination of employer’s scheme and scheme under Payment of Gratuity Act, 1972
Independent directors – Time limit for inclusion in database extended
International Financial Services Centres Authority established from April 27, 2020
Draft Valuers Bill, 2020 – MCA seeks public comments
Draft procedure for submission of audit files to NFRA
