By: Sharanya Ranga and Riya Dutta
With protectionist winds holding sway in the developed economies, India seems to be bucking the trend with the notification of Section 234 of the Companies Act, 2013 (“Co Act”) on 13th April 2017 allowing outbound mergers subject to specific conditions. While the erstwhile Companies Act, 1956 provided only for inbound mergers, i.e. merger of a foreign company with an Indian company, this provision gives the green signal for cross-border mergers, both inbound and outbound.
By: Sharanya Ranga, Laxmi Joshi and Aditi Rani
The Delhi High Court in the case of Cruz City 1 Mauritius Holdings versus Unitech Limited recently ruled that contravention of India’s exchange control laws (“FEMA”) cannot be a ground to challenge enforcement of foreign arbitral awards. Significantly, this ruling comes in the wake of the Tata Sons – Docomo settlement in March 2017 where the parties mutually agreed to not proceed with the enforcement of a foreign arbitration award allegedly involving violation of FEMA. While the judgment in the Tata-Docomo matter is yet to be pronounced, the Delhi High Court appears to be all set to clear the air on the question of enforcements of such foreign arbitral awards in India and settling the on-going debate on the enforcement of the contractual obligations without flouting Indian laws.
By: Nidhi Tandon
The Trade Mark Rules, 2017 (“Rules”) notified by the Department of Industrial Policy and Promotion (“DIPP”) last month completely revamps the Trade Mark Rules, 2002 (“Old Rules”) to simplify and expedite the trademarks registration process in India and promote e-filings. The Rules have come into effect from 6th March, 2017 and some of the notable changes are as follows:
Consolidation of Trademark application forms from 74 to 8
The Old Rules had one form for each type of application totaling to a whopping 74 forms whereas the Rules have consolidated multiple forms such that they could be used for multiple types of applications and requests.