[Jishnudeep Kolay and Saumya Bapna are second-year B.A. LL.B (Hons.) students at the National Law School of India University, Bengaluru] In July 2023, the Delhi High Court in Telefonaktiebolaget LM Ericsson v. Competition Commission of India (‘Ericsson II’) ruled that in an issue of abuse of dominance by a patentee in the exercise of their rights under the patent, the Patents Act, 1970 will...
Navigating the Regulatory Landscape: ICAI and CCI at Loggerheads over CPE Program
[Shruti Srivastava is a fourth-year law student from National Law University and Judicial Academy, Assam] Delegated legislation is a vital framework that allows specialized bodies like the Institute of Chartered Accountants of India (ICAI) to regulate their respective professions effectively. As a statutory body, the ICAI derives its regulatory authority from the Chartered Accountants Act 1949...
Game On, Taxes Doubled: Unraveling the Dual Taxation Conundrum in India’s Online Gaming Industry: Part II
[Rupam Dubey and Parth Kantak are 3rd-year B.A., LL.B. (Hons.) students at the National Law School of India University, Bangalore This is a continuation of Part I] The preceding segment of this post examined the taxation framework enforced upon the realm of online gaming in India and the dual taxation regime of the Union Government which leads to a situation of double taxation, imposing an unfair...
Game On, Taxes Doubled: Unraveling the Dual Taxation Conundrum in India’s Online Gaming Industry: Part I
[Rupam Dubey and Parth Kantak Mangrish are 3rd-year B.A., LL.B. (Hons.) students at the National Law School of India University, Bangalore] The emergence of affordable internet in India has had a profound impact on the country’s mobile gaming industry. With increased accessibility to the internet, more people have been able to engage in online gaming, resulting in India becoming one of the...
SEBI’s Sponsorship Shake-Up: Unravelling the Implications for Mutual Funds
[RS Sanjanaa is a third-year BA LLB (Hons.) student at Symbiosis Law School, Pune] A sponsor of a mutual fund refers to any bank, financial institution or a corporate who acts as the promoter of the mutual fund. The entity establishes the fund, obtains necessary approvals and funding, and incorporates an asset management company (“AMC”). On June 27, 2023, the Securities and Exchange Board of...
Fine-Tuning the FLDG Framework: Sectoral Caps Reflecting Default Rate Variations
[Ritvij Ratn Tiwari is a 3rd-year B.A., LL.B. (Hons.) student at the National Law School of India University, Bangalore.] In June 2023, the Reserve Bank of India (“RBI”) issued guidelines regulating the arrangements for sharing the losses arising from defaulted loans, popularly called default loss guarantee (“DLG”), between regulated entities (“REs”) and lending service providers (“LSPs”). These...
Regulating the Regulator: A Prohibited Territory for the CCI
[Shourya Mitra is a penultimate year law student at Jindal Global Law School, Sonipat] On 2 June 2023, the Delhi High Court, in the case of Institute of Chartered Accountants of India (“ICAI”) v. CCI, held that the Competition Commission of India (“CCI”) lacks jurisdiction to assess grievances arising from a statutory regulator’s decisions. It held that the CCI could not compel or outsource...
PMLA Framework on Virtual Digital Assets: Two Key Issues
[Jaideep Reddy is Counsel and Krati Hashwani a Senior Associate, Trilegal] The virtual digital asset (also known as crypto-asset or cryptocurrency) (VDA) industry is accustomed to legal ambiguity in India. There has been little in the way of legislative clarity, barring the specific income-tax regime introduced in 2022, and piecemeal measures such as a mandatory disclosure of holdings for...
Material Adverse Government Action (MAGA): Need for a PPP Framework in India
[Sri Janani S. is a 3rd year B.A., LL.B. (Hons.) student at National Law University, Jodhpur] In the recent years, public-private partnerships (“PPPs”) have been increasing manifold in India. The state is recognizing the private sector’s indispensable role in the infrastructure sector, urban water projects, healthcare and even in the development of electric vehicles. The Government is encouraging...
The Conundrum of Inter-se Priorities between Secured Creditors in Liquidation
[Arvind Tiwari is a IV year student at the National Law University, Delhi] The recent ruling of the National Company Law Appellate Tribunal (“NCLAT”) in Oriental Bank of Commerce v. Anil Anchalia has rekindled the debate concerning the significance of inter-se priorities among secured creditors in the process of liquidation. In this matter, it was held that once a secured financial...
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