Recently, the Ministry of Finance has justified the imposition of a windfall tax on domestic crude oil producers in July 2022. Windfall taxes are designed to tax the profits a company derives from an external, sometimes unprecedented event—for instance, the energy price…
The Real Estate (Regulation and Development) Act, 2016, (RERA) seeks to protect the interests of home buyers and also boost investments in the real estate sector. The Real Estate (Regulation and Development) Act, 2016 (“the Act”), mandates all real estate projects related to commercial and residential property to be registered. Non-registration will result in penalties under the Real Estate (Regulation and Development) Act.
Company law states that directors must fulfil their fiduciary duty and act in the company’s best interests. However, it may be challenging for a nominee director (nominee), who also has to take into consideration the interests of their nominator which may be conflicting
It would be pretty fair to state that the real estate sector is perhaps one of the substantial contributors to economic growth and development in India. Residential real estate sales grew by 60% in the first half of 2022 to 158,705 units across the top eight cities in the country from 99,416 units in the same period last year. Home sales in the National Capital Region (NCR) centred on New Delhi grew 154%, according to a report released on July 6.
With alternative dispute resolution becoming more mainstream due to its cost-effectiveness, procedural flexibility, and relatively quick results, it has become a part of the legal system of the country as arbitral tribunals are seen as alternatives to courts.The doctrine of
The Data Protection Bill - Significance, withdrawal, and criticism Analysis The Personal Data Protection Bill, 2019 was introduced in the Lok Sabha by the Minister of Electronics and Information Technology on December 11, 2019. The purpose of this Bill was to safeguard the data of several individuals and establish a Data Protection Authority. The Personal Data Protection Bill was a great initiative for those who process personal data. This would include the government, companies incorporated in India and foreign companies which deals with the personal data of the citizens of India.
Introduction to Real Estate Regulation and Development Legislation The real estate sector in India has shown exponential growth over the years. The sector has been affected by diverse legal regimes across states and opaque enforcement strategies by various state governments. Although being a significant contributor to the gross domestic product of the nation, the real estate suffers because of the irregularities that prevail in the real estate industry. This has resulted in a deficit of trust amongst buyers as well as investors. As India moves ahead in its growth journey, the need to regulate and instil transparency in the real estate sector becomes more important than ever.
In the realm of dispute resolution, it is not always that the parties are able to afford the costs that come with resolving said disputes. Variety of expenses are involved in litigation and arbitration proceedings such as the fee of their lawyer, costs of the court
Twin conditions of PMLA Section 45 are reasonable to combat the menace of money-laundering: Supreme Court holds “twin conditions” under Section 45 of PMLA reasonable Abstract The Supreme Court observed that the provisions in Section 45 of the 2002 Prevention of Money Laundering Act, as amended in 2018, are reasonable and have a direct nexus with the 2002 Act’s purposes and objectives for combating the menace of money-laundering with transnational consequences, including impacting financial systems and the sovereignty and integrity of countries. The bench added that the basic principles and strictures of Section 45 may apply regardless of the nature of the proceedings, including proceedings under Section 438 of the Penal Code or even invoking the jurisdiction of the Constitutional Courts.
Med-Arb is an acronym for Mediation-Arbitration, it involves a mode of dispute resolution involving both mediation and arbitration integrated. Med-Arb is a hybrid, two-tier process where the parties opt for a medium to resolve their disputes.Med-Arb provides a unique…