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Showing posts from May, 2019

Legal Capsule: Revised FDI policy on e-commerce: Ensuring Fair Play? by Law Office of Madhavan Srivatsan

Revised FDI policy on e-commerce: Ensuring Fair Play?
Authors: Madhavan Srivatsan Law Office of Madhavan Srivatsan
It is the spirit and not the form of law that keeps justice alive.”                                                                             ― Earl Warren The recently revised FDI policy on e-commerce as introduced by the Government vide Press note no. 2 of 2018, has introduced new conditions and restrictions upon e-commerce marketplace entities (EMEs). The revised policy was required to be complied by EMEs before 1st February 2019.
There are few interesting changes to be noted in the revised policy, both in terms of addition and deletions from the previous policy (i.e. the policy which was in effect prior to PN2 of 2018). It becomes debatable as to whether EMEs with deep pockets have been provided an ease of doing business or whether they are placed under restrictions in the revised policy. In other words, whether the “brick and mortar” stores which are otherwise placed u…

Legal Capsule: Doubtful Receivables in India: The Insolvency Code Solution by Veyrah Law

The Insolvency and Bankruptcy Code, 2016 (Code) was legislated with the intent to resolve the banking crisis The Insolvency and Bankruptcy Code, 2016 (Code) was legislated with the intent to resolve the banking crisis that had engulfed the Indian economy. While the Code provides banks and other financial creditors a theoretically faster mechanism to resolve their bad debts, the infrastructural and procedural aspects surrounding the resolution process are leading to delays. The National Company Law Tribunals (Tribunal) which are the adjudicating authorities under the Code, are understaffed to deal with the vast number of cases being filed. Faster resolution of debts has further been complicated by frequent amendments to the Code. The jury is still out on whether the Code and related enforcement mechanisms have rendered substantial benefits to the banking industry. However, a welcome beneficiary of the Code has been the domestic and/or foreign vendor supplying goods or rendering servic…