Delhi High Court allows enforcement of Arbitral Award against Ranbaxy’s owners

The High Court of Delhi on 31.01.18, allowed a Japanese drug maker Daiichi Sankyo Company Ltd., to enforce a Foreign Arbitral Award passed by a Singapore Arbitral Tribunal, ordering former Ranbaxy Laboratories Ltd. owners (Singh brothers) and 13 others to pay around Rs. 3,500 crore (Rs. 2,563 crore in damages, along with interest @ 4.44% […]

LONG TERM CAPITAL GAINS TAX IN BUDGET 2018: AMBIGUITIES AND IMPLICATIONS

The budget for financial year (“FY”) 2018-19 (“Budget”) has proposed a 10% tax on transfer of listed equity shares, units of an equity oriented mutual fund and units of a business trust, where such gains exceed INR 100,000 (approx. USD 1500), with effect from April 1, 2018. Previously, in 2004, Securities Transaction tax (“STT”) was […]

LEGAL TUSSLE BETWEEN FAST FOOD GIANT MCDONALDS AND ITS FRANCHISE IN NORTHERN AND EASTERN INDIA

The London Court of International Arbitration (LCIA), in an award passed on 12 September, had asked Vikram Bakshi to sell his stake in Connaught Plaza Restaurants Ltd (“CPRL”), the McDonald’s franchise for northern and eastern India as CPRL defaulted in payment of royalties to the tune of Rs. 61 Crore for the past two years. Vikram […]

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Apex Chamber of Industry and Commerce of NCT, Delhi Challenges Government Notification for hike in Minimum Wages.

The Delhi Government, by a notification dated 3rd March, 2017, cleared a significant 37% hike in minimum wages of workers in the State. An unskilled labourer will now be entitled to a minimum wage per month of Rs. 13,350/- from the earlier Rs. 9,724/-. Likewise, the minimum wage per month for semi-skilled workers would go […]

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New MRP Rules under GST notified by Central Government

Maximum Retail Price (“MRP”) is the highest price that can be charged to a consumer by the last point in the supply chain which is inclusive of all taxes. But, post Goods and Services (“GST”) Tax introduced in the country on 1 July 2017, the rate of tax has changed in some commodities, thus, affecting […]