FTL, Buffer Zone And G.O.111 Area Demolitions By HYDRAA – Legal Perspective

In the past few months, Hyderabad has witnessed a whirlwind of demolitions of illegal constructions encroaching the Full Tank Level (“FTL”) lands, buffer zones and lands covered under the Government Order 111 issued by the Municipal Administration and Urban Development (“MA&UD”) Department of Government of Andhra Pradesh on March 8, 1996 (“G.O. 111 Lands”) owing to the actions of Hyderabad Disaster Response and Assets Protection Agency (“HYDRAA”). HYDRAA, was formed on July 19, 2024[1]...

Bankruptcy:Corporate Obituaries Can Be An Economic Fillip

In an era where sustenance and longevity are sought-after virtues, the remote consideration of a corporate losing life is considered a taboo. The pursuit of enabling start-ups, providing loss-making entities to wind-up, and paving a structured exit for investors, pushed India to operationalize its Insolvency & Bankruptcy Code (2016). It was anticipated to be a transformative legal framework. But, eight years later, well, the glass is half-full. An optimist would focus on the...

Correlation Between Capital Contribution And Profit Sharing Ratio In An LLP

A Limited Liability Partnership (“LLP”) is a body corporate formed and incorporated under the Limited Liability Partnership Act, 2008, (“LLP Act”) and functions as a distinct legal entity, separate from its partners. This separation means that the LLP can own assets, enter into contracts, and be held liable independently of its partners, providing a layer of protection to the personal assets of the partners. An LLP has perpetual succession i.e. it continues to exist regardless of changes in its...

Hidden Hatchery: The Birth Of Unpublished Price Sensitive Information

In the kingdom of the securities market, information reigns supreme. It is capable of shaping perceptions, driving market movements, and influencing the pricing of securities. Information is the lifeblood of the securities market - its protection, timely and accurate dissemination is vital for the market's integrity. The dynamic realm of economic activity continuously gives rise to information regarding the health and endeavours of companies and businesses. Amongst this vast galaxy of...

The Legal Battle Over EIA Amendments: TNPCB's Response And The Way Forward

The Kerala High Court's ruling in One Earth One Life v. Ministry of Environment, Forests and Climate Change & Anr. brought significant uncertainty to the regulatory landscape surrounding the Environment Impact Assessment Notification No. S.O. 1533(E) dated September 14, 2006 (“2006 EIA Notification”), especially for the construction and building projects related to industrial sheds, schools, colleges, and hostels for educational institutions, which have availed the benefit of exemption...

The Right To Bail Under Prevention Of Money Laundering Act: Balancing Justice And Liberty?

In recent times, India's criminal law jurisprudence has witnessed an increasing emphasis on enacting stringent laws with an aim to curb economic offences, particularly the menace of money laundering. The Prevention of Money Laundering Act (PMLA)[1] exists as an important legislative instrument in this regard. However, the applicability of PMLA, especially its inflexible provisions related to grant of bail, has given rise to debates and deliberations, concerning the balance between ensuring...

Approver Under Benami Law: To Be, Or Not To Be?

The process of obtaining evidence from persons involved in crime by granting them immunity is well known in criminal law both in India and abroad. In complex cases, the investigators may find it difficult to secure conviction due to difficulty in unearthing complete details and gathering quality evidence. In such cases, the prosecution often resorts to offering immunity to persons accused of relatively lesser involvement in the crime in exchange of them becoming prosecution witness/approver to...

Term Sheet: The Whys And Wherefores Answered

In the world of business and finance, when commercially sophisticated parties are on the cusp of a deal, a crucial document often comes into play: the Term Sheet. A Term Sheet is much like a tapestry woven with the threads of mutual commitment and aspirations, outlining the contours of collaborations - heralding the dawn of a prosperous alliance. In a way, it can be regarded as the blueprint of a transactional journey inscribing the shared vision of the parties. Term Sheet aids the process of...

Unclogging India's Legal System: Why We Should Start It Smartly By Focusing On Corporate Cases First?

Let's admit it, India's dire problem of unresolved court cases has been a problem for some years now. Prior to the pandemic itself, the number of pending cases stood in millions. The official data from e-courts Sevices shows 6.11 million cases pending at the high-court level while 44.53 million remain pending at the taluka or district level as of 2024.Pending cases in millions have translated into a vast number of legal disputes waiting for a verdict. This in turn has not only increased the...

RBI's Draft Disclosure Framework On Climate-Related Financial Risks 2024

Climate-related and environmental risks threaten the safety, soundness and resilience of entities regulated by Reserve Bank of India (“RBI”) and in turn the stability of the overall financial system. The RBI in its Discussion Paper on Climate Risk and Sustainable Finance, published in July 2022, identified the need to develop an appropriate framework to identify, assess and manage climate-related risks and recently (in February 2024) published the draft Disclosure Framework on Climate-related...

GSTR 1A Whether Truly An Aid Or A Farce

The GST council in the recent 53rd meeting held on 22.06.2024 had announced a range of steps in favor of the assessees and to ease out GST provisions. One of the steps, taking the hardship of the assessee into consideration, was to introduce a 'Form' to make amendments in the existing Form GSTR-1 for a tax period after the same had been filed. The said step when announced brought a sigh of relief to a lot of assessees who now had the power to make amendments in the same tax period which earlier...

Misleading Ads: Everything You Need To Know

Advertising in India has undergone significant changes over the years. From vendors using loudspeakers in the markets to attract customers to captivating television commercials, eye-catching billboards and digital marketing, advertisements have always painted a picture of a dynamic consumer market. Today, the advertising landscape is dominated by eye-catching digital advertisements that appear everywhere online. However, advertising is not just about selling products - it is deeply rooted...