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Corporate Law Updates May 2022

I Ministry of Corporate Affairs (MCA)

  1. Extension of date for filing of Form CSR-2 (Report on Corporate Social Responsibility)

In order to stringent compliances on the reporting of CSR activities done by a Company, the MCA had introduced filing of web-Form CSR-2 with the Registrar from the financial year 2020-21, and onwards, as an addendum to Form AOC-4, AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be. The last date for filing of the said form for the financial year 2020-21 was March 31, 2022. However, the MCA vide its notification dated March 31, 2022, has extended the last date of filing of Form CSR-2 till May 31, 2022.

https://www.mca.gov.in/bin/dms/getdocument?mds=IzW7fqstVJYuFz6gHMSkKw%253D%253D&type=open

  1. Companies (Management and Administration) Amendment Rules, 2022

Vide its notification bearing no. GSR 279(E) dated April 6, 2022, the MCA has introduced Companies (Management and Administration) Amendment Rules 2022 where by the MCA has notified amendments to the Companies (Management and Administration) Rules 2014. By virtue of these  Rules, provisions have been introduced whereby following particulars in respect of members of a Company maintained in the register or index or return of a Company shall be subjected to confidentiality and below listed particulars in respect of members of a Company will not  be available for inspection or for taking extracts or copies:

  1. Address or registered address (in case of a body corporate)
  2. E-mail ID
  3. Unique Identification Number
  4. PAN Number

https://egazette.nic.in/WriteReadData/2022/234911.pdf

  1. Companies (Share Capital and Debenture) Amendment Rules, 2022

MCA vide its notification dated May 4, 2022 has amended the Companies (Share Capital and Debenture) Amendment Rules, 2022, by virtue of the said amendment, Form SH-4 (i.e. Share Transfer Form) has been revised to include following declarations:

  1. No government approval is required under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 prior to the transfer of shares; or
  2. Transferee is required to obtain the government approval prior to the transfer of shares, the same has been obtained and enclosed herewith.

https://www.mca.gov.in/bin/dms/getdocument?mds=z0TPPBoxhsbnobHAN7dyxw%253D%253D&type=open

  1. Clarification on passing of Ordinary and Special Resolutions by Companies under the Companies Act, 2013 read with rules made thereunder on account of COVID-19

In continuation of previous circulars dealing with the subject matter hereof, vide a General Circular No. 3/2022 dated May 5, 2022, the MCA has clarified that the relaxation accorded to companies to convene an EGM though Video Conferencing and/or other Audio-Visual means, also use of postal ballot to transact business in ordinary course, shall stand extended till December 31, 2022. Prior to issuance of present circular, the relaxation was applicable till June 30, 2022.

https://www.mca.gov.in/bin/dms/getdocument?mds=JBdXGa0hUFPRoITMEqTz6g%253D%253D&type=open

  1. Clarification on holding of Annual General Meeting (AGM) through Video Conferencing (VC) or other Audio-Visual Means (OAVM)

In continuation of previous circulars dealing with the subject matter hereof, vide a General Circular No. 2/2022 dated May 5, 2022, the MCA has further allowed to convene the AGM for the year 2022 though Video Conferencing and/or other Audio-Visual means, on or before December 31, 2022. It is also clarified that the said extension shall not be construed as conferring any extension of time for holding AGMs by the Companies under the Companies Act, 2013.

https://www.mca.gov.in/bin/dms/getdocument?mds=ArgX2%252B%252BijiObjlpD2nMcUA%253D%253D&type=open

Insolvency & Bankruptcy Code, 2016 (IBC)

  1. Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022

The Insolvency & Bankruptcy Board of India (“IBBI”) vide its notification dated April 5, 2022, has further amend the IBBI (Voluntary Liquidation Process) Regulations, 2017 .

Below is the summary of comparison between the earlier regulations and the amendments introduced:

S. No. Regulation Particulars Earlier Provision Revised Provision
1. 30(2) Preparation of list of creditors by the Liquidator The Liquidator is required to prepare the list of creditors within forty-five (45) days of the last date of receipt of claims from the creditors of the Corporate Debtor. In case no claims from the creditors have been received till the last date for receipt of the claims, then the liquidator shall prepare the list of stakeholders within fifteen days (15) from the last date for receipt of claims.
2. 35(1) Distribution of amount received from realisation of the assets of the Corporate Person The Liquidator was required to distribute the proceeds from realisation of the assets of the Corporate Debtor within six (6) months from the receipt of the amount to the stakeholders. The liquidator shall distribute the proceeds from realization of the assets of the Corporate Person within thirty days (30) from the receipt of the amount to the stakeholders.
3. 37(1) Completion of Liquidation process The Liquidator was required to complete the liquidation process within twelve (12) months from the liquidation commencement date. Now, by virtue of the latest amendment, the liquidator is required to complete the liquidation process of the corporate person within two hundred and seventy (270) days from the liquidation commencement date, where the creditors have approved the resolution under section 59(3)(c) or regulation 3(1)(c), and ninety days from the liquidation commencement date in all other cases.
4. 38(3) Final report of Liquidation Process Earlier, the Liquidator was required to submit the final report only along with the liquidation application. Now, in addition to the filing of final report and application, a compliance certificate in Form H is also required to be submitted with the Adjudicating Authority.

These amendments have been introduced to fast-track the liquidation/dissolution process and to facilitate expeditious disposal of applications by the Adjudicating Authority.

https://www.ibbi.gov.in/uploads/legalframwork/08722b75c35b6fbbd5a38299a2284e6a.pdf

  1. Withdrawal of circular dated 26th August, 2019 regarding applicability of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 notified on 25th July, 2019, Circular No. IBBI/LIQ/2/2022 dated May 6, 2022

The IBBI vide its notification no. IBBI/2019-20/GN/REG047 dated August 26, 2019 had amended the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 which were applicable to liquidation processes that had commenced on or after July 25, 2019.

Further, the IBBI has notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2022 on April 28, 2022 to clarify that only the provisions of regulations 2A (Contributions to Liquidation Costs), 21A (Presumption of Security Interest), 31A (Stakeholders’ Consultation Committee) and 44 (Specifying reduced time for completion of Liquidation process) as amended/ inserted by the Amended Regulations 2019 apply only to the liquidation processes commencing on or after July 25, 2019.

The IBBI after conducting the de novo examination of the Amended Regulations in the light of evolving jurisprudence, has decided to withdraw the circular dated August 26, 2019, with immediate effect.

https://www.ibbi.gov.in/uploads/legalframwork/b6c7706eeb134271106c3c0cb56a1e27.pdf

II Securities Exchange Board of India (“SEBI”)

  1. SEBI (Alternative Investment Funds) (Second Amendment), Regulations, 2022

SEBI vide its notification dated March 16, 2022 has further amended the Alternative Investment Funds Regulations, 2022. By virtue of the said notification, the erstwhile Regulation 15(d)(1) with respect to Category III Alternate Investment Funds (“AIF” or “AIFs”) has been substituted with an amended provisions. The comparative analysis between the two is as under:

S. No. Basis of Comparison Prior to the Amendment Post Amendment
1. Investment in listed equity in investee company Category AIFs cannot invest more than 10% of the net asset value in listed equity of an investee company. Category III Alternative Investment Funds shall invest not more than ten per cent of the investable funds in an investee company, directly or through investment in units of other AIFs.
2. Investment of large value funds Large value funds for accredited investors of Category III AIFs cannot invest more than 20% of the net asset value in listed equity of an investee company. Large value funds for accredited investors of Category III AIFs may invest up to twenty per cent of the investable funds in an Investee Company, directly or through investment in units of other AIFs
3. Investment of investable funds in an investee company Category III AIFs shall invest not more than 10% of the investable funds in securities other than listed equity of an investee company, directly or through investment in units of other AIFs. Category III AIFs may invest not more than 10% of their investible funds in an investee company, directly or through investment in units of other AIFs.
4. Direct or indirect investment of large value funds Large value funds for accredited investors of Category III AIFs shall invest not more than 20% of the investable funds in securities other than listed equity of an investee company, directly or through investment in units of other AIFs. Large value funds for accredited investors of Category III AIFs may invest not more than 10% of their investible funds in an investee company, directly or through investment in units of other AIFs.

https://www.sebi.gov.in/legal/regulations/mar-2022/securities-and-exchange-board-of-india-alternative-investment-funds-second-amendment-regulations-2022_56966.html

  1. Clarification on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in relation to Related Party Transactions (“RPT” or “RPTs”)

SEBI has issued a clarification dated April 8, 2022 with regard to the validity of omnibus approval granted by the shareholders for material RPTs as required under Regulation 23(4). As per the said clarification, it is stated that omnibus approval obtained from the shareholders for any material RPT in the Annual General Meeting (“AGM”) shall be valid up to the date of following AGM, and not exceeding the period of more than fifteen (15) months. In case the said approval is obtained in any general meeting (other than the AGM), then such omnibus approval shall be valid for a period of one (1) year.

https://www.sebi.gov.in/legal/circulars/apr-2022/clarification-on-applicability-of-regulation-23-4-read-with-regulation-23-3-e-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-in-relation-to-related-party-transactio-_57807.html

III Foreign Exchange Management Act (“FEMA”)

  1. Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2022

The Ministry of Finance vide its Notification dated April 12, 2022 bearing no. S.O. 1802(E) has amended FEMA (Non-debt Instruments) Rules, 2019 (NDI Rules) in order to align the same with the Foreign Direct Investment (FDI) policy. The brief summary of some  pertinent amendments introduced, is as under:

  1. Period of conversion of Convertible Note issued by Start-ups into Equity Shares has been increased from five (5) years to ten (10) years.
  2. Definition of the ‘Indian Company’ has been amended by including the word body corporates. As a result of the said amendment, body corporates established or constituted by or under any Central or State act will also be covered under the definition of Indian Company.
  3. The concept of “Share based employee benefit” has been introduced. Therefore, now the Indian Company can also issue the Share-based employee benefits under Foreign Exchange Management (Non-Debt Instruments) Rules, 2019.
  4. Educational institutions, recreational facilities, city and regional level infrastructure, townships, real estate broking services shall not be considered as the real estate business. Earlier no such exclusions were provided.
  5. In align with the new FDI policy, the government has made amendment in the NDI Rules and allowed 20% FDI in Life Insurance Corporation of India through Automatic Route.

https://egazette.nic.in/WriteReadData/2022/235070.pdf

IV Case Laws

IBC

  1. Sunil Kumar Jain vs Sundaresh Bhatt & Others, in the Supreme Court of India, Civil Appellate Jurisdiction, Civil Appeal No. 5910 OF 2019, April 19, 2022

Brief Facts

The present appeal had been preferred arising from order dated May 31, 2019 passed by the Hon’ble National Company Law Appellate Tribunal, New Delhi. The present appeal was filed by some of the employees/ workmen of the Corporate Debtor working at Dahej Yard and Mumbai Head Office who were regularly working with the Corporate Debtor during the Corporate Insolvency Resolution Process (“CIRP”) period and has not paid any wages/ salaries including pension, gratuity and provident during the said period. The Corporate Debtor was managed as a going concern in accordance with Section 21 of the IBC.

The issue before Hon’ble Supreme Court is with respect to wages/salaries of the workmen/employees during the CIRP period and the amount due and payable to the respective workmen/employees towards Pension Fund, Gratuity Fund and Provident Fund.

Held:

The Hon’ble Supreme Court vide its judgment has partially allowed the appeal and held as under:

  1. that the wages/salaries of the workmen/employees of the Corporate Debtor for the period during CIRP can be included in the CIRP costs provided it is established and proved that the Interim Resolution Professional/Resolution Professional managed the operations of the corporate debtor as a going concern during the CIRP and that the concerned workmen/employees of the corporate debtor actually worked during the CIRP and in such an eventuality, the wages/salaries of those workmen/employees who actually worked during the CIRP period when the resolution professional managed the operations of the corporate debtor as a going concern, shall be paid treating it and/or considering it as part of CIRP costs and the same shall be payable in full first as per Section 53(1)(a) of the IBC;
  2. considering Section 36(4) of the IBC and when the provident fund, gratuity fund and pension fund are kept out of the liquidation estate assets, the share of the workmen dues shall be kept outside the liquidation process and the concerned workmen/employees shall have to be paid the same out of such provident fund, gratuity fund and pension fund, if any, available and the Liquidator shall not have any claim over such funds.

https://ibbi.gov.in//uploads/order/69a9bdd067967507350b92a79e26c1ea.pdf

  1. Mr. Mukund Choudhary & Anr. Vs. Mr. Subhash Kumar Kundra (Resolution

Professional for CLC Industries Ltd.), Company Appeal (AT) (Insolvency) No. 452 of 2021, April 18, 2022

Brief Facts

The Resolution Professional (“RP”) of the Corporate Debtor had requested the suspended directors to sign the financial statements of the Company but no response has been received by the RP from the suspended directors and accordingly the RP filed an application under Section 19(2) of the IBC, 2016 with the Hon’ble National Company Law Tribunal, Principal Bench, New Delhi (“Tribunal”). The Hon’ble Tribunal vide its order dated June 1, 2021, directed the suspended directors to co-operate with the RP and sign the financial statements of the Corporate Debtor. Aggrieved by the said order passed by the Hon’ble Tribunal, the suspended directors had filed an appeal with the Hon’ble National Company Law Appellate Tribunal (“Appellate Tribunal”).

Held

The Hon’ble Appellate Tribunal stated that appointment of Interim RP/RP during the CIRP is done to entrust the responsibility of managing the affairs of the company on to said professional. The Hon’ble Appellate Tribunal clarified that the IBC regime does not discharge directors of the Corporate Debtor from their duties during continuation of CIRP, but only suspends their power as directors.

The Hon’ble Appellate Tribunal while considering the above view retain the order passed by the Hon’ble Tribunal and held that the obligation to sign the financial statements of the Corporate Debtor will continue to vest with the directors of Corporate Debtor during CIRP, and that the directors will continue to be duty bound to do the same.

The Hon’ble Appellate Tribunal also stated that the circular issued by the MCA provides only for the procedure of filing the Forms with the ROC and does not anywhere specify that the financial statement are not to be signed by the directors, as required under the Companies Act, 2013.

https://ibbi.gov.in//uploads/order/08c259498fc6a1ca2bf9d237449506b5.pdf

  1. Mr. Mahendra Kumar Janodia etc. vs. State Bank of India, Stressed Asset Management Branch, Civil Appeal No(s) 1871-1872 of 2022, May 6, 2022

Brief Facts

State Bank of India (“SBI”), Stressed Asset Management Branch filed an application under Section 95(1) of the Code with the Kolkata Bench of Hon’ble National Company Law Tribunal (“Tribunal”) seeking CIRP against the Corporate Guarantor. The same was rejected by the Hon’ble Tribunal vide its order dated October 5, 2021 stating that no CIRP proceedings has been initiated against the Corporate Debtor of the Guarantor.

An Appeal was filed by the SBI against the said order with the Hon’ble Appellate Tribunal and the Hon’ble Appellate Tribunal vide its order dated January 27, 2022, set aside the order passed by the Hon’ble Tribunal by stating that the Application filed by the Appellant was fully maintainable and there is no bar or prohibition against insolvency and bankruptcy proceedings being instituted against a Corporate Guarantor or Personal Guarantor in the absence of proceedings against the Corporate Debtor.

Thereafter, an Appeal was filed by the Appellant with the Hon’ble Supreme Court of India challenging the order dated January 27, 2022 passed by the Hon’ble Appellate Tribunal.

Held:

The Hon’ble Supreme Court vide its judgement dated March 21, 2022, firstly stayed the impugned order passed by the Hon’ble Appellate Tribunal and thereafter stated that it does not want to interfere in the order passed by the Hon’ble Appellate Tribunal and dismissed the appeal filed by the Appellant.

  1. https://ibbi.gov.in//uploads/order/2022-01-28-124013-g0wpl-26414f3846632f4c82d397e67e510d1f.pdf
  2. https://ibbi.gov.in//uploads/order/f9c04708460a1f108919a636a75ab9a1.pdf
  3. https://ibbi.gov.in//uploads/order/86a8912ac48b8beefb1b33a457beb2e1.pdf

–Dhruv Gandhi, Partner and Anshul Chhabra, Sr. Associate

Disclaimer: The contents of the above publication are based on understanding of applicable laws and updates in law, within the knowledge of authors. Readers should take steps to ascertain the current developments given the everyday changes that may be occurring in India on internationally on the subject covered hereinabove. These are personal views of authors and do not constitute a legal opinion, analysis or interpretation. This is an initiative to share developments in the world of law or as may be relevant for a reader. No reader should act on the basis of any statement made above without seeking professional and up-to-date legal advice.

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Manishi Pathak

  • Designation: Founding Partner
  • Education: M.Sc (1989) L.L.B. (1992)
  • Email: manishi@anhadlaw.com
  • Location: New Delhi, Ahmedabad
ANHAD LAW MANISHI PATHAK

Expertise

Anti-Bribery & Anti-Corruption | Dispute Resolution | Environmental, Social and Governance (ESG) | Employment & Labour | Corporate, Commercial and Regulatory | Government Relations | Mergers & Acquisitions

Manishi Pathak is the Founder and Managing Partner of ANHAD LAW.

Manishi has experience of over three decades. His areas of practice include dispute resolutions, labour and employment, corporate investigations, compliance audit and investigation into non-compliance of anti-bribery and anti-corruption laws, besides advisory and transactional supports on matters involving other corporate and commercial laws.

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Manishi is also known for his expertise in the area of mergers and acquisitions/ joint ventures, corporate restructuring and re-organizations besides his government relations work. 

He has been appreciated by clients for his hands-on approach and for providing solution-oriented sound legal advice which is commercially and practically tenable. He is also known for offering unique blend of analytical thinking and business strategy, while structuring, negotiating and closing complex commercial transactions and resolution of disputes including mediation and arbitration.

Manishi also has vast experience of delivering advisory support in areas of law, including but not limited to contentious commercial disputes, regulatory compliances (involving exchange control regulations in addition to other regulatory matters), compliance advisory under various corporate and commercial laws, rules etc. (under applicable Central and/or State). 

Manishi’s primary area of interest and specialization besides dispute resolution and government relations is Labour and Employment laws. He enjoys a distinguished status and standing in the sphere of Labour and Employment law practice. He is widely recognized as a ‘top ranked specialist’ in this area of practice owing to his deep knowledge and vast experience of dealing with range of matters in the domain of labour and employment laws practice including court litigation and appellate work. 

Manishi has retained most top accolades on offer by leading global legal ranking bodies such as Chambers & Partners, Legal 500 etc., in the field of Labour and Employment laws in India. For over last decade, Manishi and he been retained title of ‘Top Ranked’ ‘Leading Practitioner’, ‘Specialist’, owing to established expertise and in-depth knowledge he possesses in the sphere of Labour and Employment laws practice in India. 

Manishi is considered to be one of the first legal professionals who identified the scope, ambit and applicability of various central and state specific labour and employment legislations in India, while making foreign and Indian multinational corporations having business presence in India recognize the importance of compliance to various labour and employment laws related legislations in India. 

Undisputedly, in the context of Indian scenario, Manishi is regarded as the legal professional who played a pivotal role that lead to recognition and acceptance of ‘labour and employment’ laws as a prominent and established area of practice, amongst other practice areas. 

As the practice head, Manishi is actively involved in advising on a wide range of labour laws related queries, preparation and standardization of employment agreements and other agreements such as non-compete and non-solicitation agreement, non-disclosure and confidentiality agreements, HR policies/handbooks/manuals etc., including structuring of ESOPs, closure of businesses, termination/transfer of employees, other termination related issues, trade union related disputes, social security and/or insurance claims, etc. The Firm predominantly represents companies/corporations and their management on employment related projects and litigation.

Manishi also leads members of the firm on matters involving employment audits, whistle-blower investigations, closure of establishments, transfer of business and undertakings, sexual harassment complaints, employer and employee rights and matters involving trade unions. He is also known for his involvement in investigations and/or enquiries concerning employees including in matters of misconduct by employees and/or associated parties. 

Prior to founding Anhad Law, Manishi has been the Partner of other renowned law firms of India.

Manishi has considerable experience of representing clients belonging to manufacturing as well as services business, across varied sectors including but not limited to automobiles, aviation, banking, chemicals, commerce, electronics, FMCG, information technology, paper, packaging, pharmaceuticals, ports, real estate, retail and telecommunications, amongst others.

Chambers and Partners lists Manishi in Band 1 for Employment Law and he has been recognised as a leading employment law specialist in India since 2013. They have provided the following comments as well: Manishi Pathak commands ‘great respect in the employment market,’ clients valuing him especially as a ‘very experienced partner who brings a lot of insight to particularly complex employment issues.’ He offers significant expertise in the handling of the employment aspects of M&A transactions and in advising international clients on ensuring that their operations comply with Indian employment laws.  Chambers and Partners ranked Manishi as a New Delhi based recognized practitioner in the area of Corporate/M&A for the years 2014 and 2015. He has been ‘Top Ranked’ for 2022 by Chambers and Partners (Asia-Pacific).   Chambers Global ranked him as a New Delhi based recognized practitioner in the area of Corporate/M&A for the year 2014 and 2015.  Asia Law Profiles 2022 has ranked him as an “Elite Practitioner’ for Labour & Employment Law in India. He was also earlier listed by Asia Law Profiles in 2017, 2019 and 2020.  He has been listed in the Who’s Who Legal of Indian practitioners in the field of Labour & Employment law since 2009.  Legal 500 has further recognised him amongst India’s leading lawyers for the last several years including 2021. 

He has authored several publications on Indian Labour & Employment law for Kluwer Law and Law Business Research and he writes and speaks regularly on a range of subjects, including foreign investment in India and Labour and Employment law. 

Some of his prominent publications include “Restrictive Covenants” (India Chapter) by Kluwer Law Publication; “Hiring and retaining Talent” (India Chapter) by Kluwer Law Publication; “Getting The Deal Through (Labour & Employment)”, India Chapter by Law Business Research; Labour and Employment Compliance in India, 9 editions, published by Kluwer Law since 2008 including of 2021. 

He has also authored “India Chapter on Employment Law in the Employment Law Review” by Law Business Research since 2010 -15. Manishi also contributed to National Law School Publication (Business Law Review) “An overview of contract labour related laws in India”. He has also contributed to the World Bank Group‘s publication Employing Workers 2021. 

Manishi is a member and was an officer of the Employment and Industrial Relations Law Committee of the International Bar Association (IBA). He is also a member of the Delhi High Court Bar Association and Inter Pacific Bar Association (IPBA).

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  12. If a user wishes to opt out of receiving communications such as information regarding the Website and/or any regulatory updates provided by Us, he/she may do so by emailing Us at delhi@anhadlaw.com
  13. Any access to any of our social media account such as LinkedInetc., will be subject to the terms of service and privacy policy of the relevant social media Website and user should review the same before connecting with Us on such social media Website.
  14. We may disclose a user’s Information including Personal Information, as the case may be to other third parties, our agents, contractors or third party service providers, other Website users, to companies and individuals who are acting as Our counterparties, consultants and advisors in relation to the Website and/or authorised by Us to perform certain functions in relation to the Website and/or Our practice of profession, or for the purpose of improving Our Website.
  15. We may disclose a user’s Information, including Personal Information, if legally required to do so, pursuant to an order from a governmental entity or in good faith. We will disclose the same to conform to legal requirements or comply with legal process; and/or protect Our rights or property; or prevent a crime or protect national security; and/or protect the personal safety of users or the public.
  16. We are not liable for any loss or damage which may be incurred by a user as a result of the collection and/or disclosure of his/her information via third party services. We shall not be liable for any disputes arising from or in connection with such transactions between a user and any third parties.
  17. Each user may review, correct, update, change and/or delete his/her Personal Information on the Website by emailing Us at delhi@anhadlaw.com, except for allowing Us to retain any such information that may be required for legal purposes.

    Should a user choose to delete his/her Personal Information, or modify it in a way that is not verifiable by Us, or leads to such Personal Information being incorrect, We will be unable to provide such user with access to Our Website, and such a deletion or modification may be regarded as the user seeking to discontinue access to Our Website.

  18. We endeavour to maintain physical, technical and procedural safeguards that are appropriate to protect a user’s Information against loss, misuse, copying, damage or modification and unauthorized access or disclosure. We, however, cannot ensure that all of user’s Information including Personal Information will never be disclosed in ways not otherwise described in this Privacy Policy. Therefore, although We are committed to protecting user’s privacy, We do not promise, and user should not expect, that his/her Information or private communications will always remain private. As a user of the Website, the user assume all responsibility and risk for his/her use of the Website, the internet generally, and the information the user posts or access and for user’s conduct on and off the Website.
  19. We shall not be responsible for any breach of security or for any actions of any third parties or events that are beyond Our reasonable control including but not limited to acts of government, computer hacking, unauthorised access to computer data and storage device, computer crashes, breach of security and encryption, etc.
  20. In compliance with applicable laws, We will take measures such that a user’s Personal Information, which is in Our possession or under Our control, is destroyed and/or anonymized as soon as possible provided the purpose for which that Personal Information was collected is no longer being served by the retention of such Personal Information and/or retention is no longer necessary for any other reason including applicable law.
  21. A user will be deemed to have agreed and undertakes to indemnify Us in any suit or dispute by any third party arising out of disclosure of information by him/her to third parties either through Our Website or otherwise, and such user’s use and access of websites, applications and resources of third parties. We assume no liability for any actions of third parties with regard to a user’s Information or Personal Information which he/she may have disclosed to such third parties.
  22. In case of non-compliance with Privacy Policy or terms of use for access or usage of Our computer resource, We have the right to terminate the access or usage rights of the users to the computer resource immediately or remove non-compliant information or both, as the case may be.
  23. In accordance with the IT Act and rules made there under, the name and contact details of the Grievance Officer are provided below:

    Mr. Dhruv Gandhi

    You may write to him at the following address:

    B-21, LGF, East of Kailash, New Delhi 110065 Or Email him at dhruv.gandhi@anhadlaw.com

Terms Of Use

These Terms of Use (the “Terms of Use”) describes the terms and conditions applicable to your access and use of the Website (as defined below). By accessing this website (www.anhadlaw.com), including the whole or any part of the web pages located at the website, layout of this website; individual elements of this website’s design; underlying code elements of the website; or text, sounds, graphics, animated elements or any other content of this website and associated mobile applications (collectively, “Website”), you are deemed to accept the following Terms of Use and acknowledge and confirm that you are seeking information relating to Anhad Law of your own accord and that there has been no form of solicitation, advertisement or inducement by Anhad Law or its members.

You accept Terms of Use by using the Website or accessing any content available through the Website, including without limitation our RSS feeds (collectively, the “Content”).

Anhad Law may revise these Terms of Use at any time by posting revised Terms of Use on the Website, and you agree that your use of the Website after such changes will constitute your acceptance of such changes. Any revision/ amendment will be effective immediately. You are encouraged to periodically visit this page to review the Terms of Use and any changes thereto. Discontinuing use of the Website will not affect the applicability of the Terms of Use to your prior uses of the Website.

Anhad Law website is provided as a complimentary facility to clients, colleagues, and others, for general information only. The content or information on any Website is not designed or intended to provide legal or other advice or create a lawyer-client relationship and is not intended to solicit clients or work. By accessing the website, you wish to gain more information about Anhad Law, its practice areas and its attorneys, for your own information and use; and the information is made available/provided to you only on your specific request. Any transmission, receipt or use of this Website and information and materials contained therein or sending an e-mail to our offices, will not create or constitute an attorney-client relationship. Any information obtained or material downloaded from this website or and materials contained therein is completely at your volition, None of the information contained on the Website is in the nature of a legal opinion or otherwise amounts to any legal advice and you should not take any action based on the Content of this Website without seeking independent legal advice.

Anhad Law and its partners, retainers, consultants, directors, agents, associates or employees (including authors or contributors of any content or information on the Website) accept no responsibility for any loss or damage that may result from accessing, or reliance on, any content on the Website and disclaim, to the fullest extent permitted by applicable law, any and all liability with respect to or resulting from, or arising out of or connected with acts or omissions made by clients or readers or users on the basis of content or information on the Website.

Rankings and other materials from legal directories and other sources may refer to current Legal Practice verticals or their predecessors. Images of people may be their current or former images or may feature current or former personnel or models not connected with Anhad Law.

  1. Anhad Law may add, alter, modify, change or vary all or any of these Terms and the Content and/or the services described on the Website at any time without any prior notice.
  2. The Website and the Content are the sole and exclusive property of Anhad Law and/or its licensors. You are provided with access to it only for your personal and non-commercial use. You may not, in any form or by any means: (i) adapt, reproduce, store, duplicate, copy, sell, resell, distribute, transmit, print, display, perform, publish or create derivative works from any part of this website; or (ii) commercialise any information, products or services obtained from any part of this website, without our written permission. You hereby acknowledge and agree that, as between Anhad Law and you, all right, title, and interest in and to the Website and the Content shall be owned exclusively by Anhad Law. Use of the Website or the Content in any way not expressly permitted by these Terms of Use is prohibited.
  3. So long as you agree and comply with the terms of these Terms of Use, and unless these Terms of Use is terminated by Anhad Law, Anhad Law invites a person to view and/or print a single copy of the Content or any part thereof. You agree that you will not remove or modify any acknowledgements, credits, disclaimers or legal notices contained on the Website or in the Content. Special terms may apply to some services offered on the Website and may be posted in connection with the applicable service, feature or activity. Any such terms are in addition to these Terms of Use and, in the event of a conflict, any such terms shall prevail.
  4. You agree not to access the Website by any means other than through a standard web browser on a computer or mobile device. You further agree that you will not damage, disable, alter, overburden, or impair the Website or interfere with any other party’s use and enjoyment of it.
  5. In the event you are accessing the Website on a shared computer/ mobile device, we would strongly recommend that you clear your recent browsing history, cookies and cache from your internet browser and re-access the Website so that you may review our disclaimer and accept the Terms of Use. Anhad Law disclaims all liability in the event of non-compliance on part of the user in this regard.
  6. The Content available on the Website is intended to be a general information resource and is provided solely on an “AS IS” and “AS AVAILABLE” basis. Information provided on the Website is believed to be reliable when posted, but there is no guarantee that it is accurate or complete or current at all times. The Website is a resource for informational purposes only and is intended, but not promised or guaranteed, to be correct, complete, and up-to-date. Anhad Law does not warrant that the information contained on this Website is accurate or complete, and hereby disclaims any and all liability to the User or any other person for any loss or damage caused by errors or omissions, regardless of whether such errors or omissions result from negligence, accident or any other cause. Further, Anhad Law assumes no liability for the interpretation and/or use of the information contained on this Website, nor does it offer a warranty of any kind, either expressly or impliedly. You are encouraged to confirm the information contained herein. You should not construe Anhad Law publication of the Content as a warranty or guarantee of the quality or availability of any services or the accuracy, completeness or reliability of the Content or any part thereof.
  7. The Website may contain links to websites operated by other parties. Anhad Law provides these links to other websites as a convenience, and use or access of these sites is at solely your own risk. The linked sites are not under the control of Anhad Law, and Anhad Law is not responsible for the content available on such sites. Such links do not imply Anhad Law’s endorsement of information or material on any other site and Anhad Law disclaims all liability with regard to your access to and use of such linked Websites and the consequences of such access or use. Anhad Law does not intend that the links from this Website to other internet websites, be considered referrals to, endorsements of, or affiliations with the linked entities. Anhad Law is not responsible for, and makes no representations or warranties (i) the contents of the websites to which links may be provided from this Website, or (ii) other such websites or links may be active or always available. You must review and agree to the terms and conditions of these sites before using these sites.
  8. Maps are published by Google and sourced under an open license. The boundaries and names shown and the designations used do not necessarily imply the expression of opinion on the part of Anhad Law or its personnel in respect of the legal status of any geographic region, frontier, or boundaries.
  9. You must not link to Anhad Law’s Website without a written agreement between you and Anhad Law authorizing you to do so.
  10. Unauthorized use of any Anhad Law trademark, service mark or logo are prohibited, and may be a violation of applicable trademark laws.
  11. The website and all content on the website are provided to you on an “AS IS” and “AS AVAILABLE” basis without making warranty of any kind either express or implied, representations, endorsements or conditions with respect to the Website or the information, including but not limited to any implied warranties as to usefulness, completeness, accuracy, correctness, reliability fitness for a particular purpose, and non-infringement. Anhad Law makes no warranty as to the accuracy, completeness or reliability of any Content available through the website. You are responsible for verifying any Content or information before relying on it. Use of the Website and the Content available on the Website is at your sole risk.
  12. Anhad Law makes no representations or warranties that the Website will be available or will meet the user(s) requirements, that access/use of the website will be uninterrupted, that there will be no delays, failures, errors or omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to user’s computer system. You have the sole responsibility for adequate protection and backup of data and/or equipment and to take reasonable and appropriate precautions to scan for computer viruses or other destructive properties.
  13. The User understands that the Website is used by him/her solely at his/her own risk, cost and liability. To the maximum extent permitted by applicable law, Anhad Law disclaims all liability, whether based in contract, tort (including negligence), strict liability or otherwise, and further disclaims the user or anyone else for any loss, damages or other amounts whatsoever (including but not limited to direct, indirect, incidental, special, consequential, exemplary or punitive damages) arising out of or in connection with user’s use of or inability to use the Website or the information contained therein/Content , or any action or decision made by user in reliance on the Website or the information contained therein, or any unauthorized use or reproduction of the Website or the information therein, even if Anhad Law has been advised of the possibility of such damages.
  14. You agree to indemnify, defend and hold Anhad Law, its subsidiaries, and affiliates, and their respective officers, agents, members, partners, associates, directors, consultants and employees, harmless from any loss, liability, claim, or demand, including reasonable attorneys’ fees, due to or arising out of your use of the Website and/or breach of these Terms of Use.
  15. Copyright © 2021 Anhad Law, All rights reserved – The Website is protected by applicable copyright laws. Except for your use as authorized above, you may not modify, reproduce or distribute the content, design or layout of the Website, or individual sections of the content, design or layout of the Website, without Anhad Law’s express prior written permission.
  16. If you believe that your work has been copied in a way that constitutes copyright infringement, or your intellectual property rights have been otherwise violated, please provide the following information to us via our contact form:
  17. (i) An electronic or physical signature of the person authorized to act on behalf of the owner of the copyright or other intellectual property interest that is claimed to be infringed; (ii) A description of the copyrighted work or other intellectual property that you claim has been infringed; (iii) A description of where the material that you claim is infringing is located on the Site (providing URL(s) in the body of the communication is the best way to help Anhad Law locate content quickly); (iv) Your name, address, telephone number and e-mail address; A signed statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; and (v) A statement by you, made under penalty of perjury, that the information provided in your Notice is accurate and that you are the copyright or intellectual property owner or licensee or authorized to act on the copyright or intellectual property owner’s or licensee’s behalf. You can write to us at:Email ID: delhi@anhadlaw.com
  18. Anhad Law may, in its sole discretion, disable and/or terminate use of or access to the Website by users who infringe the intellectual property of others or of Anhad Law. The user agrees that Anhad Law with or without any reason, may immediately terminate his/her access to the Website without prior notice. Without limiting the foregoing, Anhad Law may terminate or temporarily suspend his/her access to the Website if he/she (a) breaches or violates these Terms, (b) there is a request by law enforcement or other government agencies, or (c) in case of unexpected technical issues or problems.
  19. Users agree that all terminations of access to the Website shall be made at the sole discretion of Anhad Law, and that Anhad Law shall not be liable in any manner whatsoever to either him/ her or any third-party for any termination of access to this Website.
  20. By agreeing to these terms, you acknowledge that Anhad Law may collect, use and disclose your information as described in our Privacy Policy, also available on the Website.
  21. If any provision of these Terms of Use is held to be illegal, invalid or unenforceable, such provision shall be disregarded and the remaining provisions shall remain in full force.
  22. Anhad Law’s failure to act or delay in acting with respect to any failure by you or others to comply with these Terms of Use does not waive or limit its right to act with respect to that, subsequent or similar failures.
  23. Terms of Use set forth the entire understanding and agreement between you and Anhad Law with respect to the subject matter hereof.
  24. Any cause of action or claim you may have with respect to these Terms of Use or the Website must be commenced within six (6) months after the claim or cause of action arises or such claim or cause of action shall be barred.
  25. You may not assign or transfer your rights or obligations under these Terms of Use without the prior written consent of Anhad Law, and any purported assignment or transfer in violation of this provision shall be null and void.
  26. Anhad Law causes the control and maintenance of this Website from India. Anhad Law makes no representations that the information and material contained in this Website are appropriate or permitted for use in jurisdictions outside India.
  27. These Terms of Use are governed by the laws of India without giving effect to any principles of conflicts of laws.
  28. The usage of the Website by the user is subject to the exclusive jurisdiction of the courts located in Delhi without prejudice to the right of Anhad Law to take action in any jurisdiction whatsoever.
  29. Anhad Law reserves the right to investigate complaints or reported violations of these Terms and to take any action we deem necessary and appropriate. Such action may include but not be limited to reporting any suspected unlawful activity to law enforcement officials, regulators, or other third parties. In addition, Anhad Law may take action to disclose any information necessary or appropriate to such persons or entities relating to user’s profiles, e-mail addresses, usage history, IP addresses and traffic information.
  30. Anhad Law reserves the right to seek all remedies available at law and in equity for violations of these Terms of Use and/or the rules and regulations set forth on the Website, including without limitation the right to block access from a particular internet address.
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