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The Law Tree

Edition 59

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.

Exclusive Japan-Tamil Nadu Government to Business (‘G2B’) On-Line Web Summit

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.

Insights

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.

What's Brewing

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

Learn about this month’s circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.

Circulars

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 31, 2020
Use of digital signature certifications for authentication / certification of filings / submissions made to Stock Exchanges

July 29, 2020
Relaxation in timelines for compliance with regulatory requirements

July 29, 2020
Relaxation in timelines for compliance with regulatory requirements

July 29, 2020
Extension of time for submission of financial results for the quarter/half year/ financial year ended 30th June 2020

July 27, 2020
Relaxations relating to procedural matters - Takeover and Buy-back

July 24, 2020
Recording of all types of Encumbrances in Depository system

July 24, 2020
Relaxations relating to procedural matters - Issues and Listing

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 09, 2020
Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015- Amendments

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

July 01, 2020
Standard Operating Procedure in the cases of Trading Member /Clearing Member leading to default

July 01, 2020
Relaxation from compliance to REITs and InvITs due to the CoVID-19 virus pandemic- Amendment

Nil
The Verdict

Daughters-
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.

Go Figure

Arbitration Case Statistics of Different Institutions
Around The Globe

These are the statistics related to cases that have been registered and further administered by the institution in a particular year.
Lawtitude

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.

Satisdatio

In the civil law, security given by a party to an action,as by a defendant, to pay what might be adjudged against him.

Tax base

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.

Infographic

Essentials in Tough Times

The Essential Commodities Act 1955 continues to be relevant in these continued Covid times.

Lawlipop

Important legal and other news having a bearing on society depicted in a fun quirky way!

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

(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

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.

Book/Novel

The Guardians
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.

TV Series

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.

The Law is reason, free from passion – Aristotle

Readers' Corner

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