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Legal Capsule by LexCounsel

REGULATION AND CERTIFICATION OF DIGITAL MEDIA AND ENTERTAINMENT PLATFORMS
The Ministry of Information and Broadcasting (“MIB”) has sought to undertake the ginormous task of regularising and certifying the content available on various entertainment platforms and digital media in general, more particularly referred to as the over the top platforms (“OTT”). The Minister of MIB, Mr. Prakash Javadekar, during a conference with members of the Central Board of Film Certification (“CBFC”) and the Film Industry, on August 31, 2019, stated that the MIB would soon call for talks with the major stakeholders of the prevalent OTTs, including Netflix, Amazon Prime Now, Hotstar etc. as also with members of civil society, technical community, media and legal experts, in order to discuss and formulate a concrete mechanism of certification and regularisation of the content available on such OTTs.
This requirement for the MIB to formulate regulations to certify and regularise the content available on OTTs …
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Legal Capsule by Economic Laws Practice

GST rate reduction to 5% in the real estate sector: A winning stroke or a run out?Authors: Rohit Jain, Gaurav Sogani
The real estate sector in India has faced several headwinds over the past few years. Demonetization in 2016, the introduction of GST in 2017 and the NBFC crisis in 2018. The question now is whether the revised scheme of GST will be a similar event in 2019.

At the outset, sale of a property pre and post construction, by a developer, has been treated differently for the purpose of levy of indirect taxes.  This basic issue still bothers the sector as both the transactions eventually entail the sale of an immovable property.

Be that as it may, the scheme of taxation for this sector has been continuously changing. With this recent change, this sector is evidencing the 5th regime of taxation, within a decade. The facts are presented in the table below.
Period Taxability ITC (Input tax credit) Taxation on development rights Prior to 2005 Not liable

Legal Capsule by Economic Laws Practice

Prevention of sexual harassment in the hospitality industry:  Whose cross is it to bear?  Authors: Aakanksha Joshi & Megha Agarwal, Economic Laws Practice
The past two years have witnessed an increased awareness regarding sexual harassment of women at the workplace throughout the world. The #MeToo movement has compelled organizations to reconsider their HR practices to ensure the establishment of adequate safeguards for prevention of any form of sexual harassment at the workplace and effective redressal mechanisms. 
Given the nature of the contractual relationship of a hotel owner (Owner) and a hotel operator (Operator), a common point of contention on hotel management contract negotiations is the responsibility for compliance with laws. Considering that the Hotel employees are hired and trained by the Operator, the Owner usually expects the Operator to undertake the obligation of complying with the law. Interestingly however, although policies are often set by the Operators, contra…

Legal Capsule by Economic Laws Practice

Minority protection against Oppression and Mismanagement
Authors: Amit Manubarwala, Ananthram Ganesh, Karan Narvekar


INTRODUCTION
Chapter XVI of the Companies Act, 2013 (Act) provides for minority protection against oppression and mismanagement.  Ordinarily, the board of directors of a company is empowered to take decisions binding the company, and outsiders including courts are not permitted to interfere in its affairs. However, when the management of a company purports to conduct its business in a manner prejudicial to the interests of the company, its shareholders, or a minority group of shareholders, its shareholders are empowered under Chapter XVI to approach the court to redress the wrong.24 APPLICATION FOR RELIEF AGAINST OPPRESSION AND MISMANAGEMENT Section 241(1) of the Act provides that shareholders of a company can apply to the National Company Law Tribunal (NCLT) for relief against oppression and mismanagement if: Its affairs are carried out in a manner prejudicial or oppressive …

Legal Capsule by LexCounsel

Shares with Differential Voting Rights in India - Amendments to the Regulatory Framework
In recent past, there has been a lot of debate around a proper regulatory framework being put in place to enable Indian companies issue shares with differential voting rights (“DVR(s)”) which would enable the promoters to continue retaining control over their companies. Pursuant to this ongoing debate, the Securities Exchange Board of India (“SEBI”) on March 20, 2019 issued a Consultation Paper on “Issuance of shares with Differential Voting Rights” for devising a structure for regulation of shares with DVR(s) under two broad heads, namely, issuance of shares by companies whose equity shares are already listed on stock exchanges; and companies with equity shares which have not been listed as on date but are proposed to be offered to public. Upon receipt of comments of the Primary Market Advisory Committee of SEBI and market participants including issuers and investors on the Consultation Paper, SEB…