[Rishi A is legal analyst at spotdraft.com] Introduction Earlier this year, the State Bank of India (‘SBI’) launched BankChain, a blockchain platform formed by a consortium of 27 banks, which was proposed to be used to share e-KYC information about customers within the consortium. This would help with the transmission of information directly to the banks without any leakages or delays. Last week...
Regulation of invoice discounting start-ups: Is RBI proposing a disproportionate regulation?
[The following guest post is contributed by Srinivas Medisetty, who is presently working as a legal counsel in Ola (ANI Technologies Private Limited) advising on the regulatory and litigation aspects of the company. Views expressed are personal.] The Securities and Exchange Board of India (“SEBI”) as the capital market regulator rightly stepped in to regulate crowd funding through investment in...
10th Annual NLSIR Symposium on Regulating E-Commerce in India
[The following announcement is posted on behalf of the National Law School of India Review] The National Law School of India Review (NLSIR), the flagship journal of the National Law School of India University (NLSIU), Bangalore is pleased to announce the 10th Annual NLSIR Symposium on Regulating E-Commerce in India scheduled to be held on 26-27 November, 2016 at the...
The Need for Cyber Security Due Diligence in M&A Transactions
[The following post is contributed by Prajoy Dutta, a third year B.A.,LL.B (Hons.) student at Institute of Law, Nirma University, Ahmedabad and Srinivas Raman, a fourth year B.A.,LL.B (Business Law Hons.) student at National Law University, Jodhpur] Introduction In the rapidly expanding mergers and acquisitions (“M&A”) environment, companies often overlook the finer aspects of due diligence...
Press Note 3 of 2016: ‘Old wine in a new bottle’?
Press Note 3 of 2016 issued by the Department of Industrial Policy and Promotion (DIPP) has had a mixed reception – e-commerce companies have largely remained silent, while some ‘brick and mortar’ retailers have welcomed the prohibition on influencing the price of goods amongst others. We believe that pending litigation and consultations with stakeholders have led the Government to issue the...
FDI Reforms in E-Commerce: What Do They Entail?
In a post on this Blog earlier this month, Satyajit Gupta and Saurabh Sharma elaborately discussed the background to the foreign direct investment (FDI) policy in the e-commerce sector. Ambiguities in the policy have not only given rise to uncertainties to players in the sector, but have also resulted in multiple rounds of litigation. As they demonstrate, the dominant e-tailers have gravitated...
Financial Sector Legislation, Anti-terror Laws, Human Rights and the Indian Constitution
We all now know that the Supreme Court outlawed Section 66-A of the Information Technology Act in a recent order. I wrote about the court’s core findings in a column in the Mirror publications last Friday. I would have been remiss in not writing about the court’s rationale in the very same judgement, in refusing to strike down as unconstitutional, a different section of the...
Regulating the Crowdfunding Intermediary: The Funding Portals
[The following guest post is contributed by Nikunj Agarwal, who is a 3rd year student pursuing the B. A. LL.B. (Hons.) course at RML National Law University, Lucknow. He can be contacted at [email protected]. In this post, the author considers the regulation of a specific type of intermediary involved in crowdfunding, viz. the funding portals. This follows a previous guest post on a related...
Call for Papers: NUJS Law Review
[The following is an announcement posted on behalf of the NUJS Law Review] The NUJS Law Review is pleased to invite contributions for its annual Special Issue for 2013-14 “Surveillance, Censorship & Indian Law: Mapping the Field” A spate of recent events, such as the debate surrounding Section 66A of the Information Technology Act and the Intermediaries Guidelines under it, the calls against...
PIL in Kerala to axe the vexed Intermediary Rules
(The following post is contributed by Rohan Bagai) In the midst of the tempestuous brouhaha over internet censorship and filtering of online content while US corporations like Microsoft and Yahoo are being let off on account of scanty evidence of objectionable content in their court battles at Delhi, a public interest litigation (PIL) has been filed in the Kerala High Court contesting the...
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