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Legal Capsule by Veyrah Law

‘Unmanned Aerial Vehicles – ‘Drones’: Rise of the Unmanned Industry?’ Unmanned aerial vehicles also famously referred to as ‘ drones ’ took flight way back in the mid-19 th  Century, when they were exclusively used for military purposes. Their scope was predominantly limited to military operations till as recently as 2010. The technological advancements over the last 10 years or so have drastically transformed the drone industry from it being limited to military operations to it becoming a niche hobby, majorly on account of it being expensive for general public. Therefore, an influx of manufacturers accessed the demand in the market and started to produce and sell cheaper recreational drones which were easy to operate without the need for adequate training. This rising intrigue for drones was further flamed by Amazon’s announcement in 2015 to use drones for delivering products in under 30 minutes. This garnered a lot of attention among those who could use drones for commercial purposes
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Legal Capsule by LexCounsel

Space Based Remote Sensing Policy, 2020   Dissemination of remote sensing data to support development activities in India are guided by the Remote Sensing Data Policy of India of 2001 and 2011. The remote sensing technology was promoted by the Indian Space Research Organisation (ISRO) in early seventies and ISRO launched its first remote sensing satellite in 1988. Since then, ISRO satellites have been providing crucial remote sensing data and information on critical issues such as natural resources, climate change, disaster management etc. and the data is being used for a variety of applications and developmental and operational activities. The Department of Space (“ DOS ”) vide its Notification No. DS-3p-16013/62/2020-Sec-3 dated November 20, 2020 issued the draft Space-based Remote Sensing Policy of India (“ RS Policy 2020 ”) and draft Norms, Guidelines and Procedures for implementation of RS Policy 2020 (“ RS NGP 2020 ”) for public consultation and submission of suggestions. The int

PE-VC investments in 2020 cross $39-B to create a "hat trick" of all time highs

Press Release:  Private Equity - Venture Capital (PE-VC) firms, shrugged off the pandemic induced blues, to invest a record $39.2 Billion in Indian companies (across 814 deals) in 2020,  shows data from  Venture Intelligence  - a research service focused on private company financials, transactions, and their valuations. The $17.3 Billion* invested by US-headquartered private equity and other global sovereign wealth funds in Reliance Industries Limited (RIL) Group firms - including in the telecom-focused holding company  Jio Platforms ($9.9 Billion), Reliance Retail ($6.4 Billion), and  Reliance Digital Fibre Infrastructure Trust ($1 Billion) - accounted for 44% of the total PE-VC investment value in 2020. (*This figure excludes the $10.2 Billion in strategic investments by Silicon Valley tech giants Google and Facebook in Jio Platforms). On the back of the RIL deals, PE-VC investments in 2020 grew 6.6% over the   $36.3 Billion (across 1012 deals) invested in 2019 and helped create a

Legal Capsule by Veyrah Law

TIME FOR ACQUIHIRES TO TREND AGAIN? COVID-19 has wreaked havoc on all economies and businesses across the globe. While some of the businesses will sail through to see better times in the future, some will not. Specifically, smaller companies and startups at nascent stages may be handicapped with no funds or hope to recover. The rise in number of troubled companies may result in a lot of distress sale transactions soon. A distress sale can be structured in different ways – asset sale, share sale, slump sale, mergers or acquihire transactions. Some of the sectors have been positively affected by the prevalence of COVID-19; particularly, the ones driven by technology. The market leaders in tech sectors are in constant need for qualified and senior employees to expand their teams and launch varied products/services. So, it may be safe to say that the acquihire trend may well be back again and provide some respite to troubled companies.  An acquihire is where a company is being acquired for

Legal Capsule by LexCounsel

Offset Obligations Under the Defence Acquisition Procedure 2020 The Defence Acquisition Procedure 2020 (“DAP”) released by the Ministry of Defence (“MoD”) on September 30, 2020 supersedes the Defence Procurement Policy 2016 with effect from October 1, 2020. All new defence acquisitions will be governed by DAP. However, if the Request for Proposals (“RFP”) has already been issued then the vendor will be governed by the defence procurement policy under which the RFP was issued. DAP has been introduced to ensure timely acquisition of military equipment, systems and platforms as required by the armed forces in terms of performance, capabilities, and quality standards, through optimum utilization of allocated budgetary resources. Key obligations including various amendments as introduced under DAP regarding the vendor’s offset obligations and the Indian Offset Partners (“IOPs”) are discussed hereunder: Offset Threshold and Offset Obligations: The offsets would be applicable for Buy (Global

Legal Capsule by Veyrah Law

CONSIDERING LITIGATION IN INDIA |  PART V – APPROACHING THE CORRECT JUDICIAL FORUM! Introduction This article is in continuation to the series of earlier articles which deal with various aspects to bear in mind while seeking to litigate in India. In our past articles, we have discussed multiple key facets such as; the need to anticipate and strategize a dispute well in advance, the importance of facts in a dispute scenario, etc. While the above points are important, one cannot neglect another important aspect of litigation i.e., choosing the most appropriate forum for the proceedings. This plays a critical role to determine the course, cost, duration, direction etc., of the dispute.  Furthering commercial objective While litigation in India is usually long drawn and cumbersome, choosing the correct judicial forum may allow a relatively shorter time frame for achieving the desired settlement. A party can analyze the forum which provides the fastest dispute resolution, as opposed to appr

Cyril Amarchand Mangaldas tops League Table for Legal Advisors to M&A deals during Jan - Sep 2020

Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions for the nine months ending September 2020. CAM advised M&A deals worth $20.9 billion (across 54 qualifying deals). It was followed by AZB & Partners ($15.8 billion across 40 deals) and Davis Polk & Wardwell ($10.2 billion across 2 deals) in second and third place respectively. Trilegal ($6.5 billion across 23 deals) and Khaitan & Co. ($6.2 Billion across 40 deals) completed the top five. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE and M&A transactions advised by Financial and Legal Advisory firms. Among the largest deals in this quarter, AZB, Davis Polk & Wardwell, Freshfields Bruckhaus Deringer and J Sagar Associates (JSA) advised $4.5 Billion investment by Google into Reliance Jio platforms . CAM, Khaitan, Shardul Amar