A.K. Mylsamy & Associates LLP has organised an Exclusive ‘One-to-one, Government to Business (‘G2B’) web-meeting for both prospective Japanese investors considering investments anywhere in India and also to existing Japanese Companies who have their presence in Tamil Nadu [‘Japan Investor Summit’ /’Summit’]. The Summit is scheduled on 22nd, 23rd & 24th September 2020.
We have crossed the half year mark of living with Covid 19. Businesses are resuming albeit behind masks, PPE’s and sanitizers. Resilience at it best. A bid to return to normal as it was before the virus attacked the world. It is with the same ‘never say die’ spirit, we bring you this edition of the Law Tree.
Insolvency & Bankruptcy Code - Amendment to Regulations 2020
There was a flurry of activity in August 2020 in the Insolvency and Bankruptcy Board of India (IBBI). Various amendments were notified by the IBBI during the first fortnight. Let us get an insight into the same.
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
Truemix Concrete (India) Pvt Ltd. v. Nitesh Housing Developers Pvt Ltd. 271 / 2019 - 20.1.2020
IBC is not intended to be a recovery forum
Masonite Doors Private Limited 50 / 2020 - 30.1.2020
NCLT order to dissolve the corporate person and disposed of the application
National Education Policy 2020
In August 2020, the Ministry of Human Resources Development (MHRD) announced the National Education Policy 2020 (NEP 2020). Nearly three decades after the first education policy was announced in 1986 (and modified in 1992), the NEP 2020 proposes to rejig and reconfigure the entire education systems and its structure. The objective is to provide a multi-disciplinary, practical and holistic education to India’s youngsters.
Circulars & Notifications
July 01, 2020
Master Circular – Lead Bank Scheme
July 24, 2020
Implementation of Indian Accounting Standards
July 16, 2020
Fair Practices Code for Asset Reconstruction Companies
July 01, 2020
Special liquidity scheme for NBFCs/HFCs
July 31, 2020
Clarification on applicability of regulation 40(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to open offers, buybacks and delisting of securities of listed entities
July 15, 2020
Relaxation from compliance with provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“ILDS Regulation”), SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 (“NCRPS Regulations”) and SEBI Circulars relating to Listing of Commercial Papers
July 10, 2020
Master Circular for Commodity Derivatives Market
July 07, 2020
Relaxation from compliance with certain provisions of the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 (ILDM Regulations) and certain SEBI Circulars due to the CoVID -19 virus pandemic
Equal Coparceners in HUF Property
On 11th August 2020, a 3 Judge bench of the Supreme Court held that daughters have equal coparcenary rights in Hindu Undivided Family Properties. A look the origin, differing precedents of judgments and the latest judgment.
Apex Rulings look at other Supreme Court Judgments that have profound bearing on the society.
Arbitration Case Statistics of Different Institutions
Around The Globe
Data Protection & Privacy Laws -
The Position in India, EU and The United States
Right to privacy also envisages right to information / Data privacy. With the digital migration due to the covid pandemic, securing data and preventing its abuse becomes significant now more than ever. This is true not only for India, but the world over.
Qualified stock option
An option to purchase shares awarded to an employee of the corporation under terms that qualify the option for special tax treatment under the Internal Revenue Code.
In the civil law, security given by a party to an action,as by a defendant, to pay what might be adjudged against him.
The total assessed value of all the property in a given area which determines the rate at which an individual property is assessed.
Raising a use
Creating, establishing, or calling into existence a use. Thus, if a man conveyed land to another in fee, without any consideration, equity would presume that he meant it to be to the use of himself, and would therefore, raise an implied use for his benefit.
Dress: Progress or Oppress?
Cambodia targets women’s clothes with new modesty law
Language No Bar
Supreme Court Judgments now available in more regional languages
Atma Nirbhar Human(oids)
Made in India Robots helping health workers fight Covid 19
Dark Waters (2019)
An intriguing movie based on true events. A story that brought DuPont, one of America’s Fortune 500 companies to its knees holding them guilty of environmental pollution and malfeasance.
The movie portrays the real-life struggle of Robert Bilott, an environmental lawyer championing the cause of chemicals polluting the environment, humans and other beings.
Robert Bilott (played by Mark Ruffalo), is a hot shot corporate attorney. A chance meeting with his farmer friend in West Virginia leads Bilott to know of unexplained deaths of animals and scores of sick people. The friend believes that such deaths are directly the outcome a chemical / effluent being discharged from DuPont’s chemical manufacturing units into the neighbourhood. The friend asks Bilott to defend him in the case. Reluctantly, Bilott agrees to defend the case.
However, on thorough investigation and gathering scientific evidence, Bilott is convinced that DuPont has been releasing toxic chemicals / effluents into the neighbourhood. Perfluorooctanoic acid (also known as “C8”) accumulates in the body over a period causing multiple cancers. Then begins an epic class action lawsuit with Bilott defending a large group of common people directly permanently affected by such toxic effluents. After a long legal and relentless battle that nearly ruins Bilott’s family life and his peace of mind, he succeeds in getting justice. Robert Bilott wins multi-million-dollar settlements for the affected people as damages and compensation.
In 2017, DuPont and its merged company Chemours Co agreed and settled to pay $ 671 million in cash to settle thousands of lawsuits involving a toxic chemical leak. A victory of justice. Take a bow Robert Bilott.
by John Grisham (2019)
Every avid reader would have read at least a couple of novels of John Grisham. His readers are not limited to lawyers or advocates only. In his list of over 30 novels (and counting) is this legal thriller.
Published in 2019, the novel deals with the imprisonment of a coloured man. Quincy Miller is a black man who is wrongly convicted of cold-blooded murder of his lawyer. He is sentenced to life in prison. Nearly two decades later, he writes a letter to the “Guardian Ministries” – a small well-intentioned organization. Headed by a former priest, Cullen Post, the objective of this group is to scout for wrongly imprisoned convicts / inmates and go all out to defend them. When Cullen Post chances upon Miller’s request and interacts with him, Post is convinced that Miller is indeed innocent and embarks on a journey of truth. From Miller’s “confession” to a planted weapon and even Miller’s wife testifying against him, Cullen Post unravels that Miller was a scape goat and there was conspiracy and cover up at the highest level to murder the lawyer. Read the novel to know more.
For The People (2018)
An American legal drama series, this series had a screen time run of a little over a year from March 2018 to May 2019. The series focuses on brand new lawyers appearing both as prosecution and defence lawyers in southern New York Federal court. Each episode depicts their journey – professional and personal. From defending a juvenile in a detention centre to bringing to court a crime lord, witness the trials, tribulation, and triumphs of these passionate lawyers.