Amidst the pandemic, the Government continues its business as usual. The Stamp Duty Act 2020 was introduced and became effective in July 2020. Get an Insight into the same.
The Law Tree
Edition 58
There is a saying – “We all didn’t come in the same ship, but we are all in the same boat”. This is true for the village, town, city, state, country, and the whole wide world. Even as different parts of the world continue to grapple with the second wave of Covid19, we bring to you our journal in all earnestness and sincerity.
IBC Cases
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
What's Brewing
Kuwait's Draft Bill on Foreign Workers
In the first week of July 2020, Kuwait proposed a draft Bill to reduce the number of foreign workers in Kuwait. The Legislative committee of its National assembly has deemed it constitutional to do so. The draft Bill seeks to reduce the total number of foreign workers from the existing 70% to 30% of the total foreign population.
What's Brewing
Consumer Protection Act 2019
The Consumer Protection Act was originally enacted in 1986 by the Parliament of India to protect the interests of consumers in India. It was amended in the year 2000. Further streamlining and amendment were proposed vide Consumer Protection Bill 2019. Presidential assent was given on 9th August 2019 and most of the sections shall be effective from 20th July 2020.
Circulars & Notifications
Learn about this month’s circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.
Notifications
June 04, 2020
Limited Liability Partnership Act 2008 and Rules
Notifications
June 22, 2020
Increasing Instances of Payment Frauds – Enhancing Public Awareness Campaigns Through Multiple Channels
June 24, 2020
Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines
June 26, 2020
Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Minimum Daily Maintenance of the Cash Reserve Requirement
June 26, 2020
Floating Rate Savings Bonds 2020 (Taxable)
June 30, 2020
Floating Rate Savings Bonds, 2020 (Taxable)- FRSB 2020 (T) - Operational Guidelines(Taxable)
Circulars
June 05, 2020
SEBI Framework for Regulatory Sandbox
June 19, 2020
Relaxation in timelines for compliance with regulatory requirements
June 23, 2020
Temporary relaxation in processing of documents pertaining to FPIs due to COVID-19
June 24, 2020
Guidelines for Order-to-trade ratio (OTR) for Algorithmic Trading
June 26, 2020
Relaxation of time gap between two board / Audit Committee meetings of listed entities owing to the CoVID-19 pandemic
June 29, 2020
Guidelines for Portfolio Managers - Extension of implementation timeline
Nil
The Verdict
Informed Consent cum Undertaking Form by Hospitals:
Unfair Trade Practice
On 6th July 2020, the National Consumer Dispute Redressal Commission (“NCDRC”) passed an order that pre-printed and fixed “informed consent cum undertaking” form(s) being signed and obtained by hospitals from its patients amounts to unfair trade practice within the meaning of section 2(1 (r) of the Consumer Protection Act, 1986. This could have far reaching consequences in the manner of hospital treatment and care for patients. A look at the case:
Go Figure
Regional Trade Agreements
Free Trade Agreements(FTA) are multinational agreement according to international law to form a free-trade area between the cooperating states.
Lawtitude
A Global Ray of Hope:
Compulsory Licensing of Patents during COVID-19
According to the World Trade Organization (WTO), compulsory licensing is a grant of license in which the Government of the sovereign allows someone else to produce a patented product or process without taking the consent of the patent-owner, or plans to use the patent-protection invention itself. Provisions pertaining to compulsory licensing between different nations are governed by WTO-agreement known as Trade-Related Aspects of Intellectual Property Rights(TRIPS). Generally, the patent-holder has the exclusive right over its invention and he has a negative ‘right to rem’ which means he has the right to exclude others from using his patented product.
Legal-ease
Legal words that are not as difficult as they sound. Know their meaning and use them appropriately!
Necation
The act of killing
Maker
One who makes, frames, executes, or ordains; as a “lawmaker” or the “maker”of a promissory note
Palimony
Term has a meaning similar to “alimony” except that the award,settlement or agreement arises out of nonmarital relationship of parties.
Object of an action
Legal relief to prevent or redress the wrong. The thing sought to be obtained by the action; the remedy demanded or the relief or recovery sought or prayed for; not the same thing as the cause of action or the subject of the action.
Infographic
COVID19: The Globetrotter
The Covid19 and triggered unprecedented panic and fear amongst the public. The fear has manifested into violence on medical personnel and property. This has prompted the government to amend archaic Epidemic Diseases Act. The Infographics deals with the legislation.
Lawlipop
Important legal and other news having a bearing on society depicted in a fun quirky way!
Government Bans 59 Chinese Apps
PM’s One Nation One Ration Card Policy
Barbados: Work for 12 Months Visa Stamp
(P)Review
Your regular dose of a movie, TV show and a book all based on law to keep you entertained and thinking at the same time!
Movie
Fracture (2007)
This 2007 movie is a legal courtroom drama. Starring Academy winning actor Anthony Hopkins and actor Ryan Gosling, the movie deals with a wealthy Irishman Theodore “Ted” Crawford” (Hopkins) living in Los Angeles who comes to know that his wife is in an extra marital affair with a policeman. In a fit of rage, he shoots her and is sent to jail. Awaiting a trial, he realizes that District Attorney, William “Willy” Beechum (Gosling) will be the attorney prosecuting the case. Beechum considers it an open and shut case. In a surprise move, Crawford decides to act as his own defense attorney. It is a legal novice vs star attorney trial, Crawford manages to prove his innocence and is acquitted, until Beechum realizes the truth and sets out to prove it. Both Hopkins and Ryan Gosling received critical praise for their performance. Watch it.
Book/Novel
Clean Hands
by Patrick Hoffman (2020)
A mobile phone with “critical” documents is pickpocketed from junior lawyer of a New York Law firm. The documents could potentially bring down a prestigious bank in a major fraud case. The senior corporate lawyer Elizabeth Carlyle is assigned with this high-stake case, the law firm connects with an CIA officer Valencia Walker – a “fixer” relating to high profile clients. Mysteriously the phone retrieved. However, there is evidence that the copies of documents have changed hands and the person begins blackmailing the law firm. It is now up to Elizabeth and her team to ensure damage control while going into the murky invisible world of connections between corporations, governments and the rich. All this while keeping their hands clean. The third novel to be published of Patrick Hoffman, the investigator cum write based in Brooklyn, the novel is fast paced, tense and a must read.
TV Series
All Rise (2019)
Currently in its second season, the legal court room drama series has had a 20 episode. It takes a look into the personal and professional lives of Judges, Public prosecutors, Defense attorneys in a Los Angeles Court. Far away from the general public perception of an ideal and high-status life, it is often chaotic and impossible. Each episode depicts all that it takes for them to uphold justice in an oft unreasonable legal system.
The key is not to prioritize what’s on your schedule but to schedule your priorities – Stephen Covey
Readers' Corner
Write to us with your questions
Write to subathra@akmllp.com and get featured in our next edition with responses from our experts
