INTRODUCTION In exploring the area of private browsing, it is crucial to acknowledge the trade-offs involved. While the allure of anonymity attracts users to use the incognito mode, it comes with sacrifices in browser personalization. Private browsing modes are now a standard feature in nearly all major web browsers. When a user switches to the browser’s private mode, it is like starting with a clean slate. Suggestions based on the user browsing history won’t be available, autocomplete features may not work as usual, and the user needs to sign into their accounts manually. Once the incognito ..read more

The Hon’ble Madras High Court, in the recent case of Tvl. Vardhan Infrastructure v. The Special Secretary and others, in [W.P. No. 34792 of 2019], decided on 11.03.2024, held that in the event of a lack of notification regarding cross-empowerment, actions carried out by counterparts are deemed to be outside their jurisdiction. FACTS The Writ Petition arose because  Tvl. Vardhan Infrastructure (hereinafter referred to as  “Petitioner”), was assigned either to the State Authorities or to the Central Authorities for administrative purposes under the provisions of the respective GST Ena ..read more

INTRODUCTION In the era of digital advancement, the saying ‘data is the new oil’ holds particular significance in the banking industry as well. However, the effectiveness of utilizing vast amounts of data to drive sustainable business outcomes increasingly articulates on hyper-personalization. This approach, leveraging data analysis and digital tools, tailors services to align with each customer’s distinct characteristics, leading to more meaningful interactions. Unlike traditional customer segmentation, hyper-personalization delves into individual behaviours, preferences, and requirements, r ..read more

The Supreme Court in S V Samudran vs State of Karnataka & Anr. [Civil Appeal No. 8067 of 2019 decided on 04.01.2024] held that scope of judicial intervention is very limited under Section 34 and 37 of the A&C Act. Further, courts cannot modify or amend any Arbitral Awards. FACTS Mr. S V Samudran, (hereinafter “the Appellant”), executed a contract with Karnataka State Public Works Department (hereinafter “the Respondent”) for construction of the office and residence of the Chief Conservator of Forest at Sirsi for Rs.14.86 Lakhs on 29.01.1990 (hereinafter referred to as the “Contract ..read more

INTRODUCTION Data privacy has emerged as a critical issue for both individuals and businesses in today’s interconnected digital world.  Along with the rise of cyber threats and a rising quantity of sensitive information being created and shared online, data security has never been more important than in the digital age. In light of an increasing number of privacy concerns and the emergence of data privacy regulations, companies are required to define and implement privacy policies, to know the location and use of all personal data, to comply with specific regulatory requirements such as ..read more

The Hon’ble Telangana High Court, in the case of M/s. Prahitha Constructions Private Limited v. Union of India and Ors. [Writ Petition No. 5493 of 2020] decided on February 09, 2024, held that the transfer of development rights is deemed as a service and  thus is chargeable under GST. FACTS OF THE CASE M/s. Prahitha Constructions Private Limited (hereinafter referred to as the “Petitioner”), engaged in the business of conceptualizing, planning, constructing, and developing commercial real estate projects, entered into a Joint Development Agreement (hereinafter referred to as “JDA”) with ..read more

The Bombay High Court, in the case of  Mauli Sai Developers Private Limited v. Union of India, [WRIT PETITION (L) NO.38399 OF 2022 decided on 22.01.2024], emphasized the essential requirement of providing a personal hearing as mandated by Section 75(4) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”), regardless of whether the taxpayer has formally requested one in writing. This is especially pertinent when there is consideration of issuing an adverse order. FACTS Mauli Sai Developers Private Limited (hereinafter referred to as “Petitioner”) is a construction company sell ..read more

INTRODUCTION On October 31, 2023, the Reserve Bank of India (RBI) issued a circular titled “Regulation of Payment Aggregator – Cross Border” (Circular), aimed at establishing direct regulatory oversight over all entities engaged in facilitating cross-border payment transactions related to the import and export of goods and services. The Circular delineates these entities as Payment Aggregator – Cross Border (PA-CB) and seeks to establish a regulatory framework governing their operations. The Circular consolidates simplifies the extant present regulatory framework pertaining to entities facili ..read more

INTRODUCTION The Reserve Bank of India (RBI) recently made amendments to the Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022, which governs use of debit and credit cards for business accounts. Under the new guidelines, the RBI has made it mandatory for business credit and debit card issuers to provide an effective framework for monitoring the final use of money. The RBI has promulgated these amendments in the exercise of its powers conferred under Section 35A of the Banking Regulation Act, 1949 and Chapter III-B of the Reserve Bank of India Act, 1934. The ..read more

As discussed in our previous blog, An Introductory Guide to Private Placement Memorandum – Part I, a PPM stands as a critical document in the realm of private placements, offering a comprehensive overview of an investment opportunity while ensuring compliance with regulatory requirements. In this blog, we shall take a look at the important factors to be incorporated while drafting a PPM. EXCLUSIVE INVITATION As mentioned previously, as a PPIV, AIFs are catered towards seasoned and high-capital investors. As such, this is to the exclusion of others and especially the general public. The AIF Re ..read more