News
Provisions of MSMED Act will prevail over Arbitration Act – Presence of independent arbitration agreement is not material
02 十一月 2022
The Supreme Court in its judgment dated 31 October 2022 has held, that Chapter-V of the Micro, Small, and Medium Enterprises Development Act, 2006 (‘MSMED Act’), dealing with delayed payments to micro and small enterprises would override the provisions of the Arbitration and Conciliation Act, 1996 (‘Arbitration Act’).
No interest and penalty imposable on demand of Customs Additional duty, SAD and surcharge
18 十月 2022
The Bombay High Court has recently held that interest and penalty cannot be recovered by taking recourse to machinery relating to recovery of duty.
Arbitral Tribunal to provide rationale for determination of interest rate in the award
12 十月 2022
The Supreme Court has ruled that when discretion is vested on an arbitral tribunal to award interest at a rate that it deems reasonable, then a duty would be cast upon the arbitral tribunal to give reasons as to how it deems the rate of interest to be reasonable.
Bar of patentability under Section 3(d) – Non-identification of ‘known substance’ is fatal
06 十月 2022
The Delhi High Court has held that for an objection of non-patentability under Section 3(d) of the Patents Act, 1970 to be raised, the basic pre-condition would be the identification of the ‘a known substance’. Section 3(d) bars patentability of a ‘new form’ of ‘a known substance’, without establishing enhanced therapeutic efficacy.
Countervailing duty cannot be revoked before completion of sunset review
27 九月 2022
The Gujarat High Court has held that it is not open to the Central Government to straightway issue the Notification rescinding the countervailing duty, during the sunset review investigation in respect of continuance of countervailing duty which has been already initiated and kept undecided.
Resolution Plan ignoring dues of State Government/Legal Authority to be rejected
21 九月 2022
The Supreme Court has held that if the Resolution Plan ignores the statutory demands payable to any State Government or legal authority, the Adjudicating Authority is bound to reject the same.
No protection under Designs Act even if trademark registration cancelled subsequently
16 九月 2022
In a case where the plaintiff had made a simultaneous claim in the shape of its product as a design as also as a trademark, the Delhi High Court has agreed with the defence of the defendant that the design of the plaintiff was incapable of being registered.
IBC prevails over Customs Act – Customs cannot recover dues once moratorium imposed
31 八月 2022
A 3-Judge Bench of the Supreme Court in its judgment dated 26 August 2022 has held that the provisions of the Insolvency and Bankruptcy Code, 2016 will prevail over the provisions of the Customs Act, 1962.
Patents – Jurisdiction of Competition Commission
22 八月 2022
Jurisdiction of the Competition Commission is not ousted the moment a complaint relates to the subject of patents.
SEIS benefits available even when no valid IEC number held at time of export of services
16 八月 2022
The Bombay High Court has allowed the benefit of Services Exports from India Scheme (SEIS) in a case where the exporter had no valid Importer Exporter Code (IEC) number at the time of rendering export of services.