Socially conscious investing is an emerging trend to ensure value maximization of business entities while maintain the social and environmental balance.
Edition 88 • January 2023
For the common good of all
The basic fabric of the Constitution of India is for common good of all sections of the society. Like the growing phenomenon of measuring an entity’s outlook on Environmental, Social & Governance (ESG) before investing in such companies. Get an Insight into ESG as a tool of socially conscious investing.
Insights
Gene Patenting in India
part of biotechnological and pharmaceutical sector is being exclusively addressed in the Patents Act 1970
Tête-à-tête
Scientific techniques such narco analysis, lie detector and Brain mapping tests are not fully admissible in evidence. Yet they are used in gathering further evidence.
IBC Cases
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
What's Brewing
The Digital Personal Data Protection Bill 2022
In November 2022, the Ministry of Electronics and Information Technology introduced the draft Digital Personal Data Protection Bill (DPDP 2022) inviting recommendations and suggestions from stakeholders and interested parties. The timeline for submitting recommendations has been extended to the first week of January 2023. A look at the main features of the much-awaited Bill.
Circulars & Notifications
The latest set of circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.
Circulars
Nil
Notifications
Nil
Circulars
Nil
Notifications
1st December 2022
Notification
of Significant Benchmark
1st December 2022
Review
of norms for classification of Urban Co-operative Banks (UCBs) as Financially
Sound and Well Managed (FSWM)
1st December 2022
Revised
Regulatory Framework - Categorization of Urban Co-operative Banks (UCBs) for
Regulatory Purposes
1st December 2022
Revised
Regulatory Framework for Urban Co-operative Banks (UCBs) – Net Worth and
Capital Adequacy
7th December 2022
Liquidity
Adjustment Facility- Change in rates
7th December 2022
Change
in Bank Rate
7th December 2022
Standing
Liquidity Facility for Primary Dealers
8th December 2022
Review
of SLR holdings in HTM category
12th December 2022
Hedging
of Gold Price Risk in Overseas Markets
12th December 2022
Master
Direction – Foreign Exchange Management (Hedging of Commodity Price Risk and
Freight Risk in Overseas Markets) Directions, 2022
13th December 2022
Data
Format for Furnishing of Credit Information to Credit Information Companies and
other Regulatory Measures
13th December 2022
Reserve
Bank of India (Financial Statements - Presentation and Disclosures) Directions,
2021 - Disclosure of material items
16th December 2022
Sovereign
Gold Bond (SGB) Scheme 2022-23
20th December 2022
Formation
of new district in the State of Assam – Assignment of Lead Bank Responsibility
26th December 2022
Central
Payments Fraud Information Registry – Migration of Reporting to DAKSH
30th December 2022
Individual
Housing loans – Revised limits under four-tiered regulatory framework
Circulars
1st December 2022
Extension
of timeline for implementation of Standardized Industry Classification by CRAs
1st December 2022
Updated
Operational Circular for listing obligations and disclosure requirements for
Non-convertible Securities, Securitized Debt Instruments and/ or Commercial
Paper – Modifications in Chapter IV and Introduction of Chapter XII on
Scheme(s) of Arrangement
by entities who have listed their NCDs/ NCRPS
9th December 2022
Foreign
investment in Alternative Investment Funds (AIFs)
16th December 2022
Performance
Benchmarking and Reporting of Performance by Portfolio Managers
16th December 2022
Framework
for Orderly Winding Down of Critical Operations and Services of a Clearing
Corporation
16th December 2022
Applicability
of SEBI circular on Principles of Financial Market Infrastructures (PFMIs) to
AMC Repo Clearing Limited
19th December 2022
Master
Circular for Foreign Portfolio Investors, Designated Depository Participants
and Eligible Foreign Investors
30th December 2022
Introduction
of Investor Risk Reduction Access (IRRA) platform in case of disruption of
trading services provided by the Trading Member (TM)
Notifications
1st December 2022
Amendment to notification No. SEBI/LAD-NRO/GN/2022/67
Circulars
7th December 2022
Circular
No. 24/2022 : Income-tax deduction from salaries during the Financial Year
2022-23 under section 192 of the Income-tax Act, 1961
Notifications
26th December 2022
Notification
No. 127/2022[F. No. 285/29/2022-IT(Inv.V)/CBDT] / SO
6066(E) : Notification No. 127/2022[F. No. 285/29/2022-IT(Inv.V)/CBDT]
/ SO 6066(E)
28th December 2022
Notification
No. 128/2022 [F. No. 500/PF7/S10(23FE)/FT&TR-II] / SO 6103(E) :
Notification No. 128/2022 [F. No. 500/PF7/S10(23FE)/FT&TR-II] / SO 6103(E)
Circulars
Nil
Notifications
Nil
Circulars
Nil
Notifications
A. Tariff
26th
December 2022
62/2022 Customs - Seeks
to give effect to the first tranche of tariff concessions under India Australia
ECTA
27th December 2022
63/2022 Customs - Seeks to give effect to the fourteenth and final tranche of
tariff concessions under India ASEAN Trade in Goods Agreement.
29th December 2022
64/2022 Customs - Seeks to give effect to the second tranche of tariff
concessions under India Australia ECTA
29th December 202265/2022 Customs – Seeks to amend
notification Nos. 48/2021 and 49/2021 - Customs, both dated 13.10.2021, in
order to extend the existing concessional import duties on specified edible
oils and lentils up to and inclusive of the 31st March, 2024.
B. Non-Tariff
1st December 2022
101/2022
Customs (NT) - Exchange rate Notification No.
101/2022-Cus (NT) dated 01.12.2022-reg
8th December 2022
102/2022
Customs (NT) Notification in relation to Land Customs Stations removal of
seasonal limit for trade and item restriction for import and export through Nagarkata and Kulkuli LCS by
amendment of Principal Notification No. 63/1994-Customs (N.T.) dated 21st
November 1994
9th December 2022
103/2022
Customs (NT) - Exports by Post (Amendment) Regulations, 2022.
9th December 2022
104/2022
Customs (NT) - Postal Export (Electronic Declaration and Processing)
Regulations, 2022
9th December 2022
105/2022
Customs (NT) - Amendment of Proper Officer
Notification No. 26/2022-Customs (NT) dated 31.03.2022.
12th December 2022
106/2022
Customs (NT) - Notification regarding inclusion of two Land Customs Stations in
Notification No. 208/77 -Cus (N.T.) dated 01.10.1977
13th December 2022
107/2022
Customs (NT) - Notifying Kakrawah as LCS for
clearance of any class of goods imported or exported by land by amendment of
Principal Notification No. 63/1994-Customs (N.T.) dated 21st November 1994
15th December 2022
108/2022
Customs (NT) - Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut,
Gold and Silver- Reg
15th December 2022
109/2022
Customs (NT) - Exchange rate Notification No. 109/2022-Cus (NT) dated
15.12.2022-reg
20th December 2022
111/2022
Customs (NT) - Seeks to amend Notification No. 58/2021-Customs (N.T.), dated
the 01.07.2021 under sub-section (2) of Section 151B of the Customs Act, 1962
to notify Agreement or Arrangement on Cooperation and Mutual Administrative
Assistance (CMAA) in Customs Matter of India and with other Countries.
22nd December 2022
112/2022
Customs (NT) - Customs Tariff (Determination of Origin of Goods under the
India-Australia Economic Cooperation and Trade Agreement) Rules, 2022
30th December 2022
113/2022
Customs (NT) - Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut,
Gold and Silver- Reg.
C. Anti -
Dumping Duty
20th
December 2022
31/2022 Customs (ADD) -
Seeks to impose Anti-Dumping duty on Stainless-Steel Seamless Tubes and Pipes originating
in or exported from China PR for a period of 5 years in pursuance of fresh
final findings issued by DGTR
27th December 2022
32/2022 Customs (ADD) -
Seeks to imposed ADD on Semi-finished Ophthalmic lenses imported from China PR
30th December 2022
33/2022 Customs (ADD) -
Seeks to levy ADD on Jute Products originating in or exported from Nepal and
Bangladesh (SSR)
The Verdict
Bank liable for loss of property title deed
The NCDRD held the Bank liable for loss of title deeds of immovable property mortgaged by its customer and directed to compensate for deficiency in service.
Apex Rulings
Supreme Court judgments that have profound bearing on the society.
Go Figure
Exploring the Scenario of Wrongful Conviction in the United States
Wrongful convictions are understood as those convictions in which an innocent person has been convicted guilty for the crime they have not committed. So, the person who is convicted is factually innocent of the charges and claims actual innocence.
Lawtitude
Global Recognition of ESports and Laws and Regulations All Over the World
E-Sports or Electronic Sports and Online Gaming are now the prominent sports activity in the world. So basically, E-Sports are a part of online gaming only, nonetheless, when these games are played in a professional manner and in a competitive form just like other forms of traditional sports, it is termed E-Sports.
Legal-ease
Legal words that are not as difficult as they sound. Learn their meaning. Use them right!
Guilty
Refers to having committed a crime : justly charged with a specified crime
Forswearing
Refers to making a false statement while under oath : commit perjury
Detinue
Refers to a common-law action for the recovery of personal property belonging to the plaintiff that is wrongfully detained by the defendant
Escrow
Refers to an instrument and especially a deed or money or property held by a third party to be turned over to the grantee and become effective only upon the fulfillment of some condition
Infographic
The Court For Family Welfare
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Lawlipop
Important legal and other news having a bearing on society depicted in a fun quirky way!
Legal b(l)ot?
World first robot lawyer to assist defendant in court
In retrospect
AP High Court – triple verdict to apply retrospectively
(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
LUCIA De B (Dutch) (2014)
Based on true events, this Dutch legal drama was shortlisted for the best foreign language film category at the Oscars in 2014.
Lucia De Berk was a paediatric a nurse. A series of inexplicable deaths of infants and elders in hospitals where Lucia worked aroused suspicion against her as she treated most of patients who died mysteriously. The hospital itself filed a complaint and Lucia got arrested. Young Public prosecutor Judith gets involved in the case. While Lucia herself refused to speak, the Court found her guilty of seven murders and three attempted murders. Of these, two murders were proven beyond doubt. Further, evidence was presented using statistical probability – since she was in the vicinity of the deaths, she was the perpetrator of the crime. Lucia’s personal diary also proved her nemesis. Based on these Lucia was sentenced to life imprisonment and detention / involuntary therapy. The case went on appeal where the sentence was upheld. Meanwhile, there is an increasing group of voices – researchers and intellectuals of the view that conviction based on statistical probability and linking was gross miscarriage of justice. When the case was re-opened in the Supreme Court of Netherlands, several glaring gaps were found to have been done at the hospital end and by investigating authorities. Objective evidence was ignored, and the blame put on Lucia based on statistical probability. Thereafter the Court acquitted her.
Book/Novel
The Last Chance Lawyer by William Bernhardt (2019)
From the acclaimed author, William Bernhardt, the story revolves around hot shot criminal lawyer Daniel Pike. Working in an upscale law firm, Pike is shunted out of the firm for his choice of client(s). He then lands a job in “the last chance” law firm – a questionable firm which supposedly offers legal help as last chance to those who don’t get it. Pike is assigned a case of disabling a young immigrant girl’s deportation by letting her relative adopt her. However, the relative is accused in a murder case. Pike must prove her innocence while protecting the young girl from being deported to her country to prevent her from being sold to sex trade. In the process Pike must save his life. A thrilling read.
TV Series
NCIS (2003 – 2022)
Streaming on Amazon Prime, this American police/ investigative drama is a fiction based on special agent team which investigates criminal activities in the U.S navy and marine corp. On air from continuously from 2003 till 2022, NCIS is one of the longest running U.S primetime TV shows.
Compromise is the art of dividing a cake in such a way that everyone believes that he has got the biggest piece - Ludwig Erhard
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
