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New rules for digital media intermediaries: how far is too far?

New rules for digital media intermediaries: how far is too far?

by Majmudar & Partners | Mar 4, 2021 | Technology, Telecommunication and Media

Background On February 25, 2021, the Indian government unveiled the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 (the “New Rules”).  Once notified in the Official Gazette, the Intermediary Rules will supersede...
Payment for offshore services are taxable in India: AAR

Payment for offshore services are taxable in India: AAR

by Majmudar & Partners | Feb 12, 2021 | Tax

Recently, in the case of Technip France SA, the Authority for Advance Rulings (the “AAR”) dealt with the issue of taxability in India of an offshore supply of equipment and provision of offshore services. The AAR held that the payment for the offshore supply was not...
Unfair Contracts: A statutory nod to equitable law?

Unfair Contracts: A statutory nod to equitable law?

by Majmudar & Partners | Feb 5, 2021 | Competition, Corporate/M&A, Disputes and Arbitration

Recently, in Ireo Grace Realtech Private Limited v. Abhishek Khanna and Ors. (C.A. 5785 of 2019), India’s Supreme Court (the “SC”) examined the binding value of oppressive and one-sided contracts, and the recourse for affected parties under Indian consumer protection...
Disclosing the financial impact of the COVID-19 pandemic – will the SEC ruling change the regulator’s approach in India?

Disclosing the financial impact of the COVID-19 pandemic – will the SEC ruling change the regulator’s approach in India?

by Majmudar & Partners | Feb 3, 2021 | COVID-19, Securities Law

Enforcement action in the US In March 2020, the Securities Exchange Commission (the “SEC”) formed a Coronavirus Steering Committee to actively oversee the monitoring of COVID-19-related misconduct by listed entities. On December 4, 2020, the SEC issued its first...
Highlights of India’s Budget 2021-22

Highlights of India’s Budget 2021-22

by Majmudar & Partners | Feb 1, 2021 | Policy & Governance Updates, Tax

Introduction India’s Union Budget (the “Budget”) was announced today (February 1, 2021), and the Finance Bill, 2021 (the “Finance Bill”) was tabled in Parliament. The Finance Bill will be discussed in Parliament before its enactment, and therefore, it is likely that...
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