K&T Forlex

  The clause in an agreement/contract that requires the parties to resolve their disputes through the process of arbitration is an arbitration clause. This distinctive feature of an arbitration clause is that it prevents the parties to dispute from filing law suits against each other and settle the dispute in a much easier, cost effective and time saving manner. A substantial period of time has passed in settling the issue related to the position of an arbitration clause in an unstamped agreement/contract. Recently a division bench of the Hon’ble Supreme Court in the case of N.N. Global Mercantile Pvt. Ltd. v. Indo Unique frame Pvt. Ltd . held that and arbitration clause in an unstamped or insufficiently stamped contract being and independent contract is valid and enforceable. According to the Hon’ble Justice Mrs. Indu Malhotra, Hon’ble Mr. Dhananjaya Chandrachud and Hon’ble Mrs. Indira Banerjee the case has given rise to issue such as applying the Doctrine of severability of an ...

Lets Trade Crypto: Indian Supreme court quashes prohibition This article reflects the decision of the Supreme court that set aside the RBI circular dated 06.04.2018 which prohibited the banks and entities regulated by it to deal in Virtual currencies or to provide banking services facilitating any person or entity dealing with or settling VCs. General introduction to virtual currencies: Virtual currency is a type of unregulated digital currency which is not issued or controlled by a central bank. Virtual currencies are ordinarily issued by private issuers and used among specific virtual communities. The security of the software and networks that virtual currencies stand on is a critical concern. The traditional regulated currencies are backed by fiat currency or hard assets such as gold. In contrast, virtual currencies are not backed with any intrinsic value. The value of a virtual currency is highly volatile. Therefore, it is a less favorable tool to be used as a medium...

  [I] General Introduction- 1. Concept of Anticipatory Bail Anticipatory Bail is a legal relief and direction to release an arrested person on bail. If a person believes that he may be arrested for a non-bailable offence; one may apply for AnticipatoryBailonly before High Court or Sessions Court. Anticipatory Bail or pre-arrest bail is issued before the arrest. While granting Anticipatory Bail, the court may impose certain conditions in the interest of justice. 2. Provision for Anticipatory Bail Section 438 of the Criminal procedure code (Cr. P.C), empowers the High Court and Sessions CourtAnticipatory Bail. Stating direction for grant of bail to person apprehending arrest. (1) When any person has reason to believe that he may be arrested on an accusation of having committed a non-bailable offence, he may apply to the High Court or the Court of Session for a direction under this section; and that Court may if it thinks fit, direct that in the event of such arrest, ...

Engineering Analysis Centre of Excellence Private Limited versus CIT and Anr. (The Supreme Court of India)          I.             Introduction - ·          Engineering Analysis Centre of Excellence Private Limited (‘EAC’), a resident Indian is an end-user of shrink-wrapped computer software which is directly imported from the United States of America. ·          It was construed by the assessing officer after application of Article 12(3) of the Double Taxation Avoidance Agreement [“DTAA”], between India and USA, and upon further application of section 9(1)(vi) of the Income Tax Act, that what was transferred between the parties was copyright which invoked the payment of royalty and it was required that the tax be deducted at the source by end-user, EAC. ·          A b...