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In light of COVID 19- ELP has initiated a Business Continuity Series to address legal and regulatory issues which will have an impact for doing business in and with India.

ELP’s Taxation Newsletters: Practical pointers on how to deal with tax implications of almost every kind of action/strategy that businesses are likely to adopt or be faced with

Articles

Banking & Finance

IBC (Amendment) Ordinance, 2020 – Ensuring Companies’ Survival

Since the outbreak of the COVID-19 pandemic in India, there was speculation as to whether the Government of India..

Litigation, Arbitration & Dispute Resolution

Delhi HC’s VC Hearing Rules – Taking the Virtual Courts System Forward

On 24th March 2020, the Ministry of Home Affairs and the National Disaster Management Authority decided to take..

Arbitration in the time of COVID-19

The article focuses on how in the times of social distancing, arbitration has the flexibility and versatility that can achieve resolution …

Litigation in the times of CORONA

The recent outbreak of the novel coronavirus (COVID-19) has disrupted several areas of life including the functioning of courts and consequently …

Labour & Employment

FAQs on Employment- Part 3

In an exclusive conversation with People Matters, AMD’s Mark Pearson talks about D&I cultural pillars including talent attraction, education, acknowledgement & marketing.

Impact of COVID-19 on employment

COVID-19has severely impacted countries world over resulting in complete lockdown thereby impacting not only the businesses but also all aspects of human life..

FAQs on Employment – Part 2

In this second part of a FAQ series brought to you by People Matters in collaboration with ELP, we address the many employment-related..

FAQs on Employment-Part 1

ELP in collaboration with People Matters, has initiated an FAQ series where we address the many employment-related questions employers are faced within the wake of COVID-19.

Hospitality

Legal Issues with the SOPs issued for the Hospitality Industry

As per the guidelines issued vide the Order (Guidelines), with effect from June 8, 2020, hotels, restaurants and other hospitality services..

The Indian Hospitality Industry: A Comprehensive Guide to Managing COVID-19

White paper for the Hospitality industry by Hotelviate..

Temporary Takings: Government Requisition of Hotels

The EDA authorizes the Central and State Governments to take such measures and issue such temporary regulations deemed necessary to prevent the outbreak of an epidemic disease.

Hospitality sector: Taking a cue from other nations

While other industries may have just started feeling the economic impact of this pandemic, the Indian hospitality sector began to feel the manifestation of its symptoms as early as the latter half of January.

Government Directives for the Hospitality Industry

On March 11, 2020 the World Health Organization declared COVID -19 as a pandemic. Like several governments across the world, India too has been updating its travel advisory, and…

Coronavirus: Operational Issues for the Hospitality Industry

The hospitality industry is expected to be one of the worst hit by the impact of the novel coronavirus (COVID19). With travel…

Policy & Regulation

A Pandemic of Notifications: Major Challenges During Lockdown

Over 50 days of the lockdown but the uncertainty on the prospect of ‘going back to normal’ continues to mount..

India is staring at a medical-device crisis

The global lockdown has exposed the deep dependence of the Indian medical-devices industry on..

What’s Making Work-From-Home Smooth? Telecom Sector’s Intervention

The COVID-19 pandemic has created an unprecedented set of circumstances where people are adapting to newer forms of working and social practices..

Profiteering in the time of Corona Virus – Demand and Supply of Essential Commodities.

The outbreak of COVID -19 which has been declared a ‘pandemic’ by the World Health Organization has led to..

COVID19 – Understanding the laws invoked from a citizens perspective

The outbreak of COVID-19 in India in the recent weeks, has constrained the Central and State Governments to impose several..

A Mammoth Task for the Task Force

The Prime Minister of India addressed the nation on COVID-19 and said that a task force has been created to address the economic hardship caused by the…

Competition Law & Policy

Supply and distribution AMID COVID-19: antitrust implications in india

As businesses continue to adapt to the ever-changing market dynamics in wake of the Covid-19 pandemic, the Competition Commission of India..

Pricing of products in the time of COVID-19 and the role of the Competition Commission of India

India continues to remain under a nation-wide lockdown since March 25, 20201 in the wake of the Covid-19 pandemic..

Information Exchange

This is the second article in a series of Competition Law Alerts by the Competition Law and Policy team at Economic Laws Practice..

COVID 19 and Anti-Trust: How will the Competition Commission of India respond

The Indian Prime Minister’s address on March 24, 2020, his second within a period of five days, directing a complete nationwide …

International Trade & Customs Practice

WTO & Related Trade Policies in Times of COVID-19

Due to COVID-19, SThe novel coronavirus (COVID-19) has thrown novel issues before the human society. Besides the human toll, it has disrupted …

Tax

Analysis of GST Implications in case of Breach of Contracts due to COVID-19

With the onset of Covid-19, the business disruptions, already faced and likely to be faced is giving corporate India sleepless nights …

Corporate & Commercial

Risks Associated with Director’s Responsibilities in COVID-19 Times

These unprecedented times require the flag bearers to take decisions, which (under the law) are in the ‘best’ interest of all stakeholders. Interestingly, the directors are the flag bearers..

FAQs on Signing FY 2019-20 Financials in COVID-19 Times

Companies which have investments from private equity funds / strategic investors or have financing arrangements from..

Analyzing SEBI’s Proposal to Provide Respite to Financially Stressed Listed Companies

SEBI has recently proposed a consultation paper titled proposing certain amendments to SEBI (SAST) Regulations..

Business disruptions amidst a pandemic: Possible recourses

Current circumstances are pushing the Indian industry to take immediate action on their functions. It is advisable to reasonably and objectively ascertain all possible measures in order to combat a situation of uncertainty.

Contracting Out Amidst a Pandemic – A Force Majeure or Doctrine of Frustration

The outbreak of coronavirus or COVID-19 and its unprecedented spread has caught the world off guard in its preparedness of dealing with such a large…

Projects, Infrastructure & Energy

Back in Action | Recommencement of Construction Activities

While announcing an extension of the lockdown up to May 3, 2020 on April 15, 2020, the Central Government also..

COVID19 – Risks and Contractual Reliefs for Infrastructure Projects

A sense of anxiety looms as the lethal novel coronavirus (COVID-19), termed as a ‘pandemic’ by the World Health Organization, spreads across …

Updates

Defence & Aerospace

Notification of Force Majeure Clause in Defence Contracts

The Ministry of Finance (MoF) vide notifications dated February 19, 2020 and May 13, 2020, has already clarified that supply chain disruptions..

Tax

Further relaxation of statutory compliances under the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020

As the world is still struggling with the pandemic, the Central Board of Direct Taxes (CBDT) has taken a note of the various difficulties which are being faced by taxpayers in completion of tax compliances.

Donation & Humanity

Covid-19 has left nothing untouched, whether people or business. The Government is taking various steps to fight the pandemic..

Implementing New Normal

The Covid-19 pandemic which remains untreatable today, has,forced a global lockdown. It has disrupted the customary norms & methods of business..

Vendor & Customer Focus

The ‘new normal’ of business will also resonate into transactions with vendors & customers. As crucial partners to any business, they require urgent focus..

Optimization of Cost

The disruption caused by the COVID-19 pandemic & continued lockdown has had an adverse impact on the bottom line of the business across segments..

Cash Preservation

The unending lockdown, with no respite, has had a devastating impact on the global economy. Business are amidst the..

Disputes and Damages

The COVID-19 pandemic & ensuing lockdown bought all economic activities to a halt. This disrupted the business operations..

Import – Export Conundrum

International trade is the worst victim of COVID-19. The ensuing lockdown has led to the collapse of..

Viability Concerns- Compliance & Obligations

On 24th March, the Hon’ble Prime Minister, announced the lockdown. Albeit necessary..

Operational Challenges

The business has experienced real time challenges towards ensuring uninterrupted and smooth..

Change in Contracts and Treatment of Advance

In a major relief to India Inc., MCA has now allowed holding of annual general meeting..

The Taxation and Other Laws (Relaxation of crtain Provisions) Ordinance, 2020

The current situation due to COVID-19 has been a major setback for Indian industry. Considering these difficult times, the …

Announcements : Taxation Relief Measures in view of COVID-19 Outbreak by the Finance Minister

The world economy is getting badly affected by COVID-19 pandemic, the numbers of which are increasing …

Labour & Employment

Order by the Ministry of Home Affairs

The Government of India, Ministry of Home Affairs, issued an order dated March 29, 2020 under Section 10 (2) (l) of the Disaster Management Act, 2005..

Policy & Regulation

Analysis – Economic Stimulus Package

It has been indicated that all Government of India agencies would provide an extension of time (upto a maximum period of 6 months) to contractors..

RBI’s COVID-19 Liquidity and Regulatory Packages

The Reserve Bank of India (RBI) in an eagerly awaited move, via a press release, announced development and regulatory policies to address …

Relief package in light of COVID-19: Key announcements by FM

To alleviate the economic stress on account of COVID-19, the Government of India today has announced a scheme, the …

Banking & Finance

RBI’s Statement on Developmental and Regulatory Policies

On May 22, 2020, the Reserve Bank of India’s(RBI) Governor, Mr Shaktikanta Das announced various regulatory and developmental policy measures..

COVID-19: RBI’s further boost

While addressing the media for second time during the lockdown the RBI Governor, Mr. Shaktikanta Das mentioned..

Projects, Infrastructure & Energy

Infrastructure and Energy Digest

Blurb: This month’s Energy and Infrastructure Digest has a clear focus on the measures being taken..

International Trade & Customs Practice

Relaxation on submission of signed copies of EUC & PO for SCOMET Export License Application

In view of the COVID-19 pandemic, the Inter-Ministerial Working Group constituted under the Directorate General of Foreign Trade (DGFT) has..

Relaxation of timelines for filing of petitions for sunset review on anti-dumping duties

The Directorate General of Trade Remedies (DGTR) has revised the timelines for filing of a petition/application for..

Temporary changes in trade remedy

The worldwide outbreak of COVID -19..

Electronic filling and issuance of Preferential Certificate of Origin

In continuation to the earlier Trade Notice(s) 34/2015-2020 dated 19.09.2019,
41/2019-2020 dated 12.12.2020 and 53/2019-2020 dated 02.03.2020..

Retrospective Issuance of Certificates of Origin under India’s Trade Agreements 2

This is in continuation of Trade Notice No 59 dated 28.3.2020..

Acceptance of Scanned Copies of Pre Registration Application under EUGSP

This trade notice is issued in continuation of this Directorate’s Public Notice No.51/(2015-2020) dated..

Retrospective Issuance of Certificates of Origin under India’s Trade Agreements

On account of the lockdown the Indian agencies authorized, in accordance with Para 2.103 of Handbook of Procedure..

Real Estate

Maharashtra Lockdown: Measures addressing payment difficulties of stamp duty on loan documents and notices of intimation

The Inspector General of Registration and Controller of Stamps, Maharashtra vide its circular dated April 27, 2020..

Stamp Duty in Maharashtra

The real estate sector of the country including in Maharashtra has been adversely affected by an economic slowdown..

Revision of Project Registration

In view of the onset of the COVID-19 pandemic, which has been adversely affecting the functioning of the real estate sector in Maharashtra..

Corporate & Commercial

SEBI provides further relaxations

SEBI has provided following relaxations on account of COVID-19:

SEBI Relaxation for board/Audit Committee meetings and submission of annual secretarial compliance (ASC)

As you are aware, SEBI had relaxed the requirement of the time gap of 120 days between two board meetings or audit committee meetings

Corporate & Commercial

Board meetings vide VC / OVAM allowed till September 30, 2020 for certain prohibited matters

MCA has extended its earlier reliefs provided for (i) holding board meetings vide video conferencing (VC) or other audiovisual means (OVAM),

SEBI provides framework for transactions in defaulted debt securities

SEBI has prescribed operational framework for transactions in defaulted debt securities and has extended the temporary relaxations given to..

MCA introduces Charge Forms Condonation Scheme, for CHG-1, CHG-9

After introducing Companies Fresh Start Scheme, 2020, and LLP Settlement Scheme, 2020, the Ministry of Corporate Affairs (MCA) has now issued the..

SEBI’s advisory to disclose COVID-19 on various factors

In view of the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015..

SEBI relaxations – MPS norms shareholders meeting norms

In a series of reliefs issued by SEBI due to COVID-19, the following have been provided..

SEBI relaxes certain Rights Issue requirements due to COVID-19

In another move to ease funds raise by listed companies, SEBI has provided one-time relaxations from strict enforcement of certain provisions of SEBI..

Indian companies allowed to hold AGMs vide VC / OVAM due to COVID-19

In a major relief to India Inc., MCA has now allowed holding of annual general meeting (AGMs) by way of video conferencing (VC)/ other audio-visual means (OVAM)..

FEMA | Pricing for Rights issue (Renunciation)

The Ministry of Finance has notified following important changes with effect from April 27, 2020. It has by..

Mutual Funds – SEBI amends norms for recognition of defaults vis-a-vis money market or debt securities due to COVID-19

In a major change of the manner of recognition of default for the purpose of valuation of money market or debt securities held by Mutual Funds..

Listed companies allowed to raise capital within six months of buy back closure

As per regulation 24(i)(f) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (SEBI Buy-Back Regulations)..

Raising of funds in capital markets – SEBI introduces relaxations

In the backdrop of COVID-19, with a view to improving access to funding to the corporates through capital markets, SEBI has..

Stressed companies – fund raise/acquisition/takeover – pricing and open offer exemptions proposed by SEBI

In a major move to allow stressed companies to raise funds and allow the acquirers to takeover such companies, SEBI has proposed a consultation

Curbing opportunistic takeovers/acquisitions of Indian companies

The Government of India has revised its Foreign Direct Investment (FDI) policy for curbing opportunistic takeovers/acquisitions of Indian..

SEBI announces relaxations

SEBI has announced further relaxations / clarifications with respect to the compliances vis-à-vis board meetings, usage of..

SEBI Relaxation

Due to COVID-19, SEBI has provided a relaxation to intermediaries/market participants for the time period of the lock down declared by..

Further clarifications issued by MCA for holding EGMs through VC/OVAM

As you are aware, due to COVID-19, MCA has recently allowed conducting of extraordinary general…

SEBI allows FPIs from jurisdictions other than Financial Action Task Force (FATF) member countries, to be registered as category I FPIs

On April 7, 2020, the Securities and Exchange Board of India (SEBI) had allowed foreign portfolio investors (FPIs) from…

MCA clarifies what constitutes CSR expenditure to combat COVID-19 | Issues FAQs

MCA has issued a list of frequently asked questions (FAQs) in relation to CSR expenditure by companies to combat..

Important clarification for Indian companies to hold extraordinary general meetings (EGMs) till June 30, 2020, due to COVID-19

In light of the difficulties being faced by Indian companies to hold general meetings..

Revised Settlement Scheme for LLPs | MCA’s initiative for LLPs to make fresh start

In order to promote ease of doing business and updation of records and availability of documents for inspection to stakeholders with respect …

Defaults of Listed Companies – Credit Rating Agencies (CRAs) to consider differential treatment

In an important circular issued by SEBI in relation to recognition of defaults of the listed companies by credit ratingagencies (CRAs), SEBI…

Contribution to PM CARES Fund is eligible as CSR expenditure

It is clarified by the Ministry of Corporate Affairs that any contribution made to the PM CARES Fund will qualify as CSR expenditure under the…

SEBI announces further relaxations for Takeover Code, ICDR, Delisting and Buyback Regulations

In continuation of its earlier circulars, SEBI has now provided following additional relaxations due to COVID-19, …

SEBI announces relaxations for listed companies for AGMs, committee meetings, newspaper advertisements, etc.

In continuation of various reliefs provided to the companies in relation to statutory …

COVID – 19: Impact on Shareholder Meetings

In light of the countrywide travel restrictions and lock-downs imposed by the Government of India and the respective states due to Covid-19, conducting…

Various relaxations under Companies Act, 2013 announced due to Covid-19

In an address made to the nation on March 24, 2020, to provide reliefs on various compliances, given the COVID-19 situation, Ms.Nirmala Sitharaman…

Spending funds on COVID-19 notified as CSR activity

In a move to curb COVID-19, the Ministry of Corporate Affairs has notified spending of corporate social responsibility (CSR) funds for…

Disruption of business to be disclosed to stock exchanges

Regulation 30(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) requires …

CAR-2020 filing relaxed – Companies and LLPs directed to file CAR-2020 by March 30, 2020

In light of COVID-19, the Ministry of Corporate Affairs (MCA) has issued an advisory to all companies and limited liability partnerships (LLPs) to generate…

Competition Law & Policy

Competition Commission of India issues Advisory for Businesses

On April 19, 2020, the Competition Commission of India (CCI), issued an advisory for the businesses operating in India..

CCI allows e-filing

On April 13, 2020. the Competition Commission of India (CCI), considering the prevailing conditions in the country, has issued a notification…

Competition Commission of India suspends operations till March 31, 2020 in light of COVID-19

On March 23, 2020 the Competition Commission of India (CCI) announced the suspension of the following operations till March 31, 2020 in…

Litigation, Arbitration & Dispute Resolution

Supreme Court of India extends limitation period(s) in light of COVID-19

In light of the COVID-19 situation, the Supreme Court of India, has today (in exercise of its power under Article 142 read with Article 141 of the…