Non-Fungible Tokens

WHAT IS AN NFT? Non-fungible tokens or NFTs, as they are more popularly known, are digital collectible tokens, unique in form (hence non-fungible) which are verified and secured by a blockchain. NFTs provide and represent the authenticity of origin of an underlying work/item, its ownership, scarcity as well as its permanence. Further, NFTs are cryptocurrency 'tokens', implying that the existence of an NFT leverages an existing cryptocurrency's blockchain. A large proportion of the ...

Textile Industry And Design Protection

"Behind every new design is a desire to break new ground, to improve and to enhance consumer experience. Good design makes products easier, more comfortable and safer to use."–Francis Gurry, Former Director General, World Intellectual Property Organization (WIPO)India is among the world's largest producers and the sixth-largest exporter of Textiles and Apparel ("T&A").The domestic T&A market is expected to be valued at>US$ 209 billion by 2029.[1]Also, the industry contributes...

The Use Of NFTs In The Music Industry

From the invention of the gramophone and vinyl records to today's streaming platforms, technology and the development of the music industry are inextricably linked, and with each evolution, the reach and manner of consumption and monetization of music content has changed drastically. Now, Non-Fungible Tokens ("NFTs") are posed to be the next such disruptor, with the potential to change the landscape of the industry as we know it. An NFT is a digital token that represents the ownership of...

The Never-Ending Fight Against Money Laundering

Money laundering, Terrorist Financing and other related financial crimes sabotage the stability and integrity of the financial sector as well as the overall economy of a nation. This, in turn disrupts the implementation of law and order, governance as well as the flow of international capital. Money laundering crimes being committed in one nation can have adverse and reverberating effects on the financial set up of other nations and may cause worldwide unfavorable impacts. Those...

Judicial Review Of Arbitration: How Far Can The Constitutional Courts Go?

The hydra headed Amazon—Future—Reliance dispute also throws up important questions concerning the role of judicial review in arbitration. In an India seated international commercial arbitration under the rules of Singapore International Arbitration Centre ("SIAC"), Future had applied to the Delhi High Court under Article 227 of the constitution of India to declare the continuation of the arbitration proceedings as contrary to law [CM (M) No.2 & 3 of 2022]. A single judge dismissed the...

Maritime Transport Service Providers Penalized For Cartelization In India

The Competition Commission of India (CCI) passed its final order on January 20, 2022, in a sou motu Case No. 10 of 2014 [available on: https://www.cci.gov.in/sites/default/files/10-of-2014.pdf] imposing penalties against four (4) maritime motor transport companies and their employees (those that were responsible) - Nippon Yusen Kabushiki Kaisha (NYK Line), Kawasaki Kisen Kaisha (K-Line), Mitsui OSK Lines (MOL) and Nissan Motor Car Carrier Co (NMCC), for cartelizing in the market of...

Nidhi Rekhan Vs. M/S Samyak Projects Private Limited: Settling The Dust On "Speculative Investors"?

a) Brief Background On 31st January 2022, the Principal Bench of the Hon'ble National Company Law Appellate Tribunal ("NCLAT") finally settled the dust regarding the very conflicted positioning of "Speculative Investors" under the framework of the Insolvency and Bankruptcy Code, 2016 ("I&B Code"). But before we delve into the facts of the case, it is pertinent to understand the existing jurisprudence of speculative investors under the framework of I&B Code, to be...

Intermediary Services Under Goods And Services Tax Act

The concept of Intermediary services was embodied in Goods and Services Tax Act from the Service Tax regime. "Intermediary" has been defined under section 2(13) of Integrated Goods and Services Tax Act, 2017 (hereinafter referred as the Act) as under- "Intermediary means a broker, an agent or any other person, by whatever name called, who arranges or facilitates the supply of goods or services or both, or securities, between two or more persons, but does not include a person who...

Diverse Facets Of Construction Arbitration And Best Practices

CONSPECTUS:-The Construction Industry in India is increasing with each passing day because of the increased developmental and other infrastructure activities which is carried out by the Government and the private sector in India. Therefore, it is believed that the Construction industry is one industry which cannot be squeezed into water tight compartment or which can be compressed into one domain. This is an industry which is associated, linked and connected with other industries and...

Game On, Rules Unclear!

The Maze:The Sports (Online Gaming and Prevention of Fraud) Bill, 2018 ("Sports Bill") was introduced in Lok Sabha on December 28, 2018, with an aim to prevent and penalize sports fraud, and establish regulatory mechanism for the online gaming sector, which has thereafter lapsed. Meanwhile, the ambiguities with respect to the legal framework of online gaming continues to persist.Presently, All India Gaming Federation ("AIGF") and Federation of Indian Fantasy Sports ("FIFS") are the...

Multi Regulator Approach To Misleading Advertisements

Central Consumer Protection AuthorityThe Consumer Protection Act, 2019 ("CPA") defines misleading advertisements as advertisements which "falsely describe the product or service; give a false guarantee or is likely to mislead the consumers as to the nature, substance, quality or quantity of such productor service; or deliberately conceals important information about the product or service." The Central Consumer Protection Authority ("CCPA") has been set up to be the watchdog of consumer...

Banning Or Regulating Cryptocurrency-Where Is India headed?

The cryptocurrency players eagerly waiting and hoping to see a positive decision from the Government of India that could allow investing and trading in cryptocurrencies with some restrictions, might have to wait a bit longer. 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' scheduled to be tabled this winter session in the Parliament, could not see the light of the day. The bill was created with the mindset to create a facilitative framework for creation of...