Corporate Social responsibility (“CSR”) originated in the 1970’s in the west, came to be introduced as a concept by which a corporate grows its business/ profitability and also becomes socially accountable by engaging in activities that have a positive impact on the environment, community and society at large. Howard Bowen, an American economist is widely regarded as the father of CSR. He suggested CSR as a self-regulatory model that can be adopted by corporates. Over the decades the concept of CSR has taken a concise shape.
Summer is yet to set in, but the corporate world is already feeling the heat. The government notified the CSR amendment Rules that make CSR compliance mandatory. An insight into the amendments and a lot more updates in this edition.
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
American Express Banking Corporation v. Fourth Dimension Solutions Limited IA 2159/2020 in CP 1232 / 2019
The approval of the Resolution Plan is granted
Mr. Ashok Tripathi & Mr. Saurabh Tripathi v. Ansal Properties and Infrastructure Ltd. 2584 / 2019
The Corporate Insolvency Resolution Process of the Corporate Debtor is allowed
Rasaa Foods Private Limited v. Capricorn Food Products India Limited 386 / 2020
The Application stands admitted in terms of Section 9(5) of IBC, 2016 and the moratorium shall come in to effect from the date of delivery of this order
Law Banning Private Cryptocurrency: In the Offing
The Digital Currency Bill, 2021 prohibits all private cryptocurrencies in India and create a regulatory framework for creation of official digital currency to be issued by RBI.
At the end of January 2021, the Indian government announced that it is mulling over banning private cryptocurrencies in India. Instead, it seeks to create an official digital currency issued (and consequently governed) by the Reserve Bank of India.
Circulars & Notifications
January 25, 2021
Implementation of United Nations Security Council Resolution (UNSCR) - 1518 (2003) Sanctions Committee List – Updated UNSCR 1518 list and Removal of Two Individuals from the Sanctions List
January 27, 2021
Strengthening of Grievance Redress Mechanism in Banks
January 06, 2021
Refund of Security Deposit
January 11, 2021
Revision in Daily Price Limits (DPL) for Commodity Futures Contracts
January 19, 2021
Relaxations relating to procedural matters – Issues and Listing
January 29, 2021
Circular on Revision of Monthly Cumulative Report
Notice Under Special Marriage Act:
Amounts to Violation of Privacy
On 12th January 2021, the Lucknow bench of the Allahabad High Court ruled that the notice period of 30 days to register a marriage under the Special Marriage Act 1954 should be made optional and not mandatory. A look at this landmark judgment that protects the fundamental right to privacy as guaranteed by the Constitution of India.
Apex Rulings look at the Supreme Court Judgments that have profound bearing on the society.
M/s. Rajeev Suri vs Delhi Development Authority & Ors.
Case Number: Transferred Case (Civil) No. 229, 230 and Writ Petition (Civil) No.510, 638, 681, 845, 853, 922, 1041 of 2020
It's Related Statistics
Californian Water Market :
Is India Ready to Trade Water as a Commodity like California?
In an unprecedented move, water has joined the panel of commodities and is now ready to be traded on the US Derivatives market. Water is, therefore, the newest addition to the traded commodities and is launched on the Chicago Mercantile Exchange and the contract has been linked to California’s $1.1 billion spot water market. Basically, the CME group based in Chicago which is the world’s leading and most diverse derivatives marketplace offering the widest range of futures and options products for risk management has initiated and decided to trade water as a future commodity.
Liable to pay geld; liable to be taxed
A jury half of one tongue or nationality and half of another
Abilities; Abilities; powers; capabilities. In the law of divorce, the capability of the husband to render support to the wife in the form of alimony, whether temporary or permanent, including not only his tangible property, but also his income and his ability to earn money
Effluxion of time
When this phrase is used in leases, conveyances and other like dudes, or in agreements expressed in simple writing, it indicates the conclusion or expiration of an agreed term of years specified in the deed or writing, such conclusion or expiration arising in the natural course of events, in contradistinction to the determination of the term by the acts of the parties or by some unexpected or unusual incident or other sudden event
The Unlawful Activities (Prevention) Act, 1967
United We Stand
100 homebuyers’ nod must for IBC against realtor, says Supreme Court
No Restitution Under Constitution
Gambling can’t be protected under the Constitution, T.N. govt. tells High Court
Find Me Guilty (2006)
An American comedy crime / court room drama based on the real life case –“The United States v. Anthony Accetturo et al” which was recognized as the longest criminal mafia trial in the history of America. The investigation lasted 10 years and cost the government millions.
The movie was based on the true life incidents of The Lucchese crime family who along with 20 men who looked after mob crimes in New Jersey. Due to the large number of people involved, they were all considered as one mob family in course of the trial.
The “fast & furious” Vin Diesel plays Jackie DiNorscio a low level mobster, who has already been sentenced to jail for 30 years. A junkie cousin Tony Campagna shoots Jackie. Fearing backlash from Jacks extended mob family, Tony agrees to the governments’ offer to become a government witness and testify in mafia related crimes as it is keen on bringing all organized crime families to the book. Even Jackie is approached to turn approver and testify against his family. Jackie, already upset with his lawyer for poorly handling his case and being handed a 30 year sentence, decides to defend his own self despite having no legal knowledge or credibility. The case(s) stretch into months and years. The jury, initially repulsed by Jackie’s crass ways eventually finds the charismatic mobster and his extended mob family not guilty of several crimes. However, for choosing jail over his family, Jackie becomes a revered figure and hero as he returns to jail to complete his 30 years. Though the film did not commercially fare as expected, Vin Diesel was appreciated for his dramatic performance, far away from his action star image.
The Silent Patient
by Alex Michaelides (2019)
Macmillan published this psychological crime thriller by debutant author Alex Michaelides. The story revolves around a seemingly perfect life of Alicia Berenson, a painter and her husband fashion photographer Gabriel. The illusion of perfection is abruptly destroyed when Alicia is accused of shooting her husband dead at point blank range. During trial the defence pleads diminished responsibility – a defense taken in criminal cases where the defendants argue that although they broke the law, they should not be held fully criminally liable for doing so, as their mental functions were “diminished” or impaired. As a result, Alicia is sent to a secure forensic unit far away from the spot light. She becomes the “silent patient” not having spoken a word since the murder.
Criminal Psychotherapist Theo Faber enters the scene, wanting to unravel the real incidents behind Alicia’s silence. Slowly, after reaching out to her family and understanding her past, Theo gets Alicia to open up but through her diary entries. The diary becomes Alicia’s voice of truth. An unexpected twist to the story that consumes the patient and the therapist alike. Absolute must read.
Trial & Error (2017-2019)
An American legal sitcom that revolves around NYC lawyer Josh Segal. Along with his eccentric, inept and hilarious team of associates, Josh represents cases of a citizens of fictional town of South Carolina. From a poet professor who murders his wife and claims guilt, to a murder investigator found in comatose condition, Josh fights all his cases in earnestness.