In 2020, WhatsApp, the instant messaging service boasted of 2.7 billion users. In 2021, it had estimated about 2.87 billion users. Until recently, WhatsApp service was the primary means of electronic communication in multiple countries. An updated Privacy policy released by WhatsApp opened a pandoras box on data privacy and protection.
Edition 64
We transition into the new year 2021, optimistic about resuming “normal” life as it were before the Covid-19 pandemic hit the world. Besides, the anti Covid vaccine and Sankranti, WhatsApp was in the news, only this time for wrong reason. Go ahead and enjoy this edition of Law Tree in the brand new year!
IBC Cases
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
What's Brewing
Love Jihad: U.P Ordinance on the oxymoron
On 24th November 2020, the Uttar Pradesh government cleared the UP Prohibition of Unlawful Religious Conversion Ordinance 2020. Known in Hindi as Uttar Pradesh “Vidhi Virudh Dharma Samparivartan Pratishedh Adhyadhesh”. Infamously known as “Love Jihad” law, the phrase itself is not mentioned anywhere in the Ordinance. The Ordinance has been in the news for all the wrong reasons. A look at the controversial Act..
Circulars & Notifications
Circulars
December 18, 2020
Companies (Appointment and Qualification of Directors) Fifth Amendment Rules 2020
December 18, 2020
Companies (Compromises, Arrangement and Amalgamations) Second Amdt Rules 2020
December 21, 2020
Commencement notification dated 21.12.2020
December 22, 2020
Notice inviting Tenders for Operation and Maintenance of Corporate Bhavan, Hyderabad
December 31, 2020
Notice to Creditors and Workmen to prove their claim in M/s. Impressive Touchwood Crafts Private Limited (in liquidation) issued by the OL, Bengaluru.
December 31, 2020
Notice to Creditors and Workmen to prove their claim in M/s. Patil Dyes and Chemicals Private Limited (in liquidation) issued by the OL, Bengaluru
December 31, 2020
Notice to Creditors and Workmen to prove their claim in M/s. Pulsar Computers Private Limited (in liquidation) issued by the OL, Bengaluru
Circulars
Nil
Notifications
December 03, 2020
Foreign Exchange Management (Export and Import of Currency) (Second Amendment) Regulations, 2020
December 04, 2020
24x7 Availability of Real Time Gross Settlement (RTGS) System
December 04, 2020
Card transactions in Contactless mode - Relaxation in requirement of Additional Factor of Authentication
December 04, 2020
Perpetual Validity for Certificate of Authorisation (CoA) issued to Payment System Operators (PSOs) under Payment and Settlement Systems Act, 2007 (PSS Act)
December 04, 2020
Authorisation of entities for operating a Payment System under the Payment and Settlement Systems Act, 2007 (PSS Act) – Introduction of Cooling Period
December 04, 2020
Processing of e-mandates for recurring transactions
December 04, 2020
Declaration of dividends by banks
December 04, 2020
Introduction of Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) for Regional Rural Banks (RRBs)
December 04, 2020
External Trade – Facilitation - Export of Goods and Services
December 04, 2020
Regional Rural Banks - Access to Call/Notice/Term Money Market
December 18, 2020
Amendment to Master Direction (MD) on KYC – Centralized KYC Registry – Roll out of Legal Entity Template & other changes
Circulars
December 01, 2020
Relaxation in timelines for compliance with regulatory requirements
December 02, 2020
Operational guidelines for Transfer and Dematerialization of re-lodged physical shares
December 08, 2020
Additional Payment Mechanism (i.e. ASBA, etc.) for Payment of Balance Money in Calls for partly paid specified securities issued by the listed entity
December 09, 2020
e-Voting Facility Provided by Listed Entities
December 18, 2020
Framework for issue of Depository Receipts – Clarifications
December 21, 2020
Review of inclusion of Historical Scenarios in Standardized Stress Testing in Commodity Derivatives Segment
December 21, 2020
Core Settlement Guarantee Fund, Default Waterfall and Stress Test for Limited Purpose Clearing Corporation (LPCC)
December 31, 2020
Creation of Security in issuance of listed debt securities and ‘due diligence’ by debenture trustee(s) - Extension of timeline for implementation
December 31, 2020
Relaxation in timelines for compliance with regulatory requirements
December 31, 2020
Circular on Mutual Funds
December 31, 2020
Procedural Guidelines for Proxy Advisors
Circular
Notifications
December 22, 2020
Notification under section 10A of the Insolvency and Bankruptcy Code, 2016
December 24, 2020
Order of NCLT on Automatic Case Number Generation
The Verdict
Notional income of a homemaker
On 5th January 2021, a three Judge bench of the Supreme Court ruled that calculation of notional income of homemakers must be based on their work, labour and sacrifices. This decision was pronounced while determining insurance compensation to be paid to a deceased couple under the Motor Vehicles Act, 1988. The judgement that reiterates gender equality, gender justice and the contribution of the homemaker to the family and indirectly the economy.
Apex Rulings
Apex Rulings look at the Supreme Court Judgments that have profound bearing on the society.
Go Figure
Forgery and Fraud in India:
It's Related Statistics
Lawtitude
India & South Africa's Waiver Proposal to the WTO:
A Battle between Rich & Poor Countries
Recently, India and South Africa, who both are World Trade Organization (WTO) members, have submitted a joint proposal to WTO regarding waiver from certain provisions of the Trade-Related Aspect of Intellectual Property Rights (TRIPS) agreement for the prevention, containment, and treatment of COVID-19. This move has been called by the respective nations in order to waive the intellectual property rights on Covid related countermeasures so that such Intellectual Property rights (IP Rights) do not create barriers to the timely access to affordable medical products including vaccines and medicines or to scaling-up of research, development, manufacturing, and supply of medical products essential to combat COVID-19.
Legal-ease
Bankerout
Bankrupt; insolvent; indebted beyond the means of payment
Callable
Option to pay before maturity on call. A security (eg bond) issue, all or part of which may be redeemed by the issuing corporation under definite conditions before maturity. The term also applies to preferred shares which may be redeemed by the issuing corporation.
Date of Cleavage
The date of filing voluntary petition of bankruptcy and hence the cut-off date as to discharge ability of debts in bankruptcy. only those debts, with some exceptions, which exist at this time are dischargeable in bankruptcy.
ABC test
Unemployment compensation law exclusion tests providing that employer is not covered if individuals he employs are free from his control, the services are performed outside employer’s places of business, and employees are customarily engaged in independently established trades or professions are known as the “ABC tests”.
Infographic
Foreign Contribution & Hospitality:
Under Check
Lawlipop
Suspension extension: Relief or Punishment?
IBC suspension extended till March 2021 says FM
Legal precedence!?
TN bar council seeks lawyers and judges to be on the Covid 19 vaccine priority list
(P)Review
Movie
You Don't Know Jack: The life and deaths of Jack Kevorkian (2010)
A television biopic, the movie is based on the book Between the Dying and the Dead by Neal Nicol and Harry Wylie. Starring Al Pacino, Susan Sarandon, and others, the movie dealt with a very sensitive and taboo subject of medically assisted deaths for the terminally ill.
Al Pacino played the titular of pathologist Dr. Jack Kevorkian (“Dr. Death” as dubbed by the media), role to perfection. A euthanasia proponent, Dr. Kevrokian championed the cause of assisted suicide for terminally ill patients. He believed that people suffering from diseases that gave no quality of life – Quadriplegics, Alzhiemers, ALS could be rid of their suffering by being medically administered drugs that led to their death. From 1990 when Dr. Kevorkian aided the death of his first patient until 1998 when he recorded a video of his last patient, Dr. Kevorkian treated a total of 130 patients. His video recording led him to be indicted and imprisoned between 10-25 years. However, he was released in 2007 after being warned of not to undertake such action again.
While the world continues to remain divided over the issue of assisted deaths even today, this movie was one of the rare ones to have dealt with such a ground breaking issue. Al Pacino is nearly unrecognizable as the cold and reckless doctor. He won several awards including the Golden Globes and Screen Actors Guild. He was ably supported by Susan Sarandon and others. A medical, legal and humanitarian issue rolled into one. Dr. Death or God? Watch the movie.
Book/Novel
An Invisible Client
by Victor Methos (2016)
A high flying wealthy personal injury lawyer Noah Bryce lives his dream affluent life making out of court settlements for wealthy clients. He only takes up cases with the affluent. The only exception he makes is for his ex- wife’s cousin whose son is on death bed after consuming cough syrup manufactured by a pharmaceutical giant. Slowly, as Noah gets into the thick of the case, he traces back the link to the pharma company itself which will go all out to protect its reputation. Noah is determined to expose the larger truth at all cost. Though not a novel plot, the author’s writing ensures it is a page turner.
TV Series
Fairy Legal (2011-2012)
A legal comedy drama series, fairy legal centres around the young and ambitious lawyer Kate Reed who takes over her father’s law firm after his death. Not only does she have to deal with his clients, but should also bond with his father’s young wife Lauren who is about the same age as Kate. Together Kate and Lauren deal with a range of legal cases – from identity theft, extortion to suicide and consumer cases while developing their own relationship.