Corporate Legal Update



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From NCLT to 4,800% returns: It’s a multibagger amid market mayhem

As equity investors lost about Rs 50 lakh crore wealth in the brutal selloff triggered by the Covid-19 outbreak, one stock rallied over 1,000 per cent in the last two months after after emerging out of a corporate…





Amazon General Counsel’s leaked comments could fuel retaliation, race discrimination claim Inc. general counsel David Zapolsky’s leaked comments against a warehouse employee who was fired could prompt a case for unlawful termination and retaliation and also a potential…



Worldwide Legal Buzz





UK examines ways to make writing wills easier during Covid-19 crisis
The UK’s Ministry of Justice is examining ways to relax rules around will writing in England and Wales following a surge in the number of people making preparations for their final farewell….





Singapore High Court gets Indian-origin judge
In one of the two new appointments to Singapore’s Supreme Court announced on April 6, President Halimah Yacob has appointed Judicial Commissioner Dedar Singh Gill as a judge of the High Court…




Law & Technology

Paris-based legal tech startup raises €1million seed funding
Paris-based startup Jus Mundi, the search engine for international law and arbitration, has announced closing a €1million seed funding round from angel investors from various countries. Jus Mundi was founded in late 2018 by a team of five engineers and a lawyer.The company developed its proprietary technology to collect and structure legal data such as international arbitration awards or treaties between states. The team is also using the most sophisticated machine learning algorithms to apprehend the diversity and complexity of data coming from all over the world.



Interview of the week




Legal profession is ultimately about how you express yourself: Advocate Hemant Singh

Hemant Singh is founder of Charter Law Chambers, a full-service law firm. Before founding the firm, he was the Co-Founder and Managing Partner of Praxis Counsel since 2014. Mr. Singh started his career in Corporate and Regulatory Litigation under the mentorship of Mr. Sanjay Sen, who is now a designated Senior Counsel. Overall, Mr. Singh has over 12 years of experience in regulatory and corporate litigation with over 60 reported judgments.







Bombay High Court restrains IDBI Trusteeship from selling Future Retail’s shares
The Bombay High Court has granted ad interim relief to Future Retail Ltd. by restraining IDBI Trusteeship Services Ltd. from selling the retailer’s shares that were pledged against debentures issued by a Future group entity.This comes after the debenture trustee had issued a mandatory redemption event notice to Rural Fairprice Wholesale Ltd., the entity that issued debentures, and Future Corporate Resources Pvt. Ltd., the entity that owned shares of the retailer. The notice sought to sell shares for recovering dues exceeding Rs 600 crore.




COVID-19: Case against Bengal doctor for online post faces High Court ire


The Calcutta High Court has directed the West Bengal Police to immediately return a seized mobile phone and a sim card of a doctor who made some social media posts highlighting the alleged shortage of protective gear for fellow professionals treating coronavirus patients and suspects.The doctor was charged under IPC for allegedly causing disharmony and feeling of hatred which disturbed public tranquility and was called by the police for a lengthy interrogation on March 29 over the social media posts and his mobile phone and sim card were seized.






The Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 was promulgated on March 31. The Ordinance provides certain relaxations related to compliance, such as extension of time limit and waiver of penalty, in relation to certain specified laws.

These laws include the Income Tax Act, 1961 (IT Act), some Finance Acts, the Central Excise Act, 1944, the Customs Act, 1962, and the Prohibition of Benami Property Transactions Act, 1988. The Ordinance provides these relaxations in view of the coronavirus pandemic.






SC- The Hon’ble SC while holding that Sec.37 of the Architects Act does not prohibit individuals not registered under the Architects Act from undertaking the practice of architecture and its cognate activities,has opined that delegated legislation is susceptible to invalidity on the grounds of being ultra vires its parent legislation but also ultra vires other primary legislation. Where the provisions of a primary legislation (the Architects Act) are contradictory to the provisions of a delegated legislation (the Promotion Policy 2005),the provisions of the primary legislation must prevail.- Hon’ble Justices D.Y. Chandrachud and Ajay Rastogi[17-03-2020]

Counsel for the Parties- Mr. V. N. Raghupathy,Mr. Ramnish Khanna,Mr. Manendra Pal Gupta,Mr. Aniruddha P. Mayee, Mr. R. Balasubramanian,Ms. Chinmayee Chandra,Mr. Raj Bahadur Yadav,Mr. Aniruddha P. Mayee,Mr. V. N. Raghupathy,Mr. Anuvrat Sharma, Mr. Ravindra Kumar

Read the full judgment with iDRAF (Issue,Decision,Reasoning,Arguments,Facts) on the headline Link


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