Corporate and Commercial
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CSR: Normal course of business in times of COVID-19
The Ministry of Corporate Affairs should adopt a liberal and pragmatic approach to allow companies to use their own products and services to provide COVID-19 related relief as part of their CSR activities under the Companies Act.
FCRA Amendment Act of 2020: Important respite to NGOs
The Foreign Contribution (Regulation) Amendment Act 2020 (Amendment Act) has been notified by the Central Government (Government) on 29 September 2020, to amend certain provisions of the Foreign Contribution (Regulation) Act 2010 (Act / FCRA). Our earlier updates on the Amendment Act are available here and here.
Foreign Contribution (Regulation) Amendment Act, 2020: SBI Account details notified
The Foreign Contribution (Regulation) Amendment Act 2020 (Amendment Act) has been notified by the Central Government (Government) on 29 September 2020, to amend certain provisions of the Foreign Contribution (Regulation) Act 2010 (Act / FCRA). Our detailed update on the changes introduced vide the Amendment Act is available here.
New Stressed Assets Ordinance – RBI Conferred With Sweeping Powers
Set out below is a short update on the Banking Regulation (Amendment) Ordinance, 2017 issued by the Government of India yesterday (Ordinance) inter alia empowering the Reserve Bank of India (RBI) to intervene and issue directions to banks for resolution of stressed assets. The Government has promulgated the Ordinance with immediate effect, instead of waiting for an enactment to be passed by Parliament, which could at the earliest, have been possible only in the next parliamentary session in July 2017.
Liability of e-commerce companies as intermediaries in India
The growth of e-commerce in India brought the focus on the issue of liability of intermediaries in India. The matter first arose in the case of Avnish Bajaj v State (2005) 3 CompLJ 364 Del, popularly referred to as the ‘Bazee.com case’. In this case, Mr Avnish Bajaj, the CEO of Bazee.com (now ebay.in) was arrested after an obscene media clip was posted by a user for sale on the website.
Foreign Contribution (Regulation) Amendment Act, 2020 – A Mixed Bag
The Foreign Contribution (Regulation) Amendment Act 2020 (Amendment Act) has been notified by the Central Government (Government) on 29 September 2020, to amend certain provisions of the Foreign Contribution (Regulation) Act 2010 (Act / FCRA).