The IBA’s response to the war in Ukraine
Tag results for 'India'
This article explores the concept of the metaverse and its growing relevance to workspaces. It examines the applicability to workspace in the metaverse of existing labour laws in India and analyses various human resource oriented and legal considerations pertaining to recruitment, use of digital currency, data privacy concerns, sexual harassment, jurisdictional challenges, and diversity and inclusion.
Released on Oct 7, 2022
As the gig economy booms, challenges regarding the status of gig workers emerge. In India, law makers recently proposed an employment law framework, the Social Security Code, 2020, which recognises ‘gig workers’ and ‘platform workers’ for the extension of social security benefits. This article discusses the emergence of the gig economy in India, the opportunities and problems encountered by its workers, the proposed regulatory framework and the authors’ thoughts in the context of India’s gig economy landscape.
Released on Oct 7, 2022
This article offers an overview of India’s new draft data privacy law.
Released on Jun 22, 2022
Hot on the heels of the ‘corporate purpose’ and environmental, social and governance (ESG) debates, investor stewardship is the latest buzzword in comparative corporate governance. What started as a domestic regulatory initiative in the United Kingdom in 2010 morphed into a global phenomenon and eventually reached Indian shores. A stewardship code is essentially a principles-based framework, which aids institutional investors in fulfilling their responsibilities, in terms of protecting and enhancing the value of their clients. A corollary of this, meaningful implementation of the stewardship principles also improves the corporate governance practices of the investee companies – institutional investors are required to actively engage as ‘stewards’ in the corporate governance of their portfolio companies. The Insurance Regulatory and Development Authority of India (IRDAI) floated its stewardship code in 2017 (and revised in 2020) and the Pension Fund Regulatory and Development Authority (PFRDA) followed suit in 2018. Most recently, the stewardship code of the Securities and Exchange Board of India (SEBI) (India’s capital markets regulator) was implemented in July 2020 and the SEBI, through a separate circular dated 5 March 2021, also mandated mutual funds to vote on all resolutions from 1 April 2022 (collectively, the IRDAI, PFRDA and SEBI stewardship codes are referred to as ‘the Indian stewardship codes’). Today, UK-style stewardship codes have been exported to over 20 jurisdictions, and the Indian stewardship codes resonate with the global stewardship movement and the drive towards corporate sustainability and engagement on ESG-related issues. However, while the Indian stewardship codes have made a laudatory start, there is significant scope for improvement, in light of developments in the global stewardship movement. One significant reason why improvements are necessitated is the modelling of the Indian stewardship codes along the lines of the UK code. This modelling has overlooked the differences in cross-jurisdictional shareholding patterns and consequently limited its success – the article explores the structural weaknesses flowing from the transplantation of the UK code to India (a country with a concentrated shareholding pattern).
Released on Jun 1, 2022
This article analyses possible implications of changes to the US Department of Justice’s enforcement policy for Indian companies.
Released on Apr 25, 2022
The Covid-19 pandemic has disrupted the conventional idea of a workplace. It can no longer be limited to designated office areas. The implementation and administration of a hybrid work model will definitely be a challenge for Indian employers, but it also has several advantages for them and their employees, although such successful implementation and administration will require bespoke policies and internal protocols.
Released on Dec 15, 2021
2022 is likely to see the continued use of working from home (WFH) arrangements, partly due to the continued challenges the Covid-19 pandemic poses and partly due to the perceived success of the WFH model over the past 18 months. Employers are likely to receive requests from employees to allow them to work remotely from overseas jurisdictions. Whatever the reason for remote WFH requests, overseas employers with employees residing in India must carefully consider the legal, financial, tax and practical implications.
Released on Dec 13, 2021
Disclosure of an Indian issuer’s potential FCPA violations: the implications for other Indian companies
Dr Reddy’s Laboratories Ltd (Dr Reddy’s), a large Indian pharmaceutical company, has American Depositary Receipts (ADRs) listed on the New York Stock Exchange and is an ‘issuer’ under the Foreign Corrupt Practices Act, 1977 (FCPA). In November 2020, Dr Reddy’s made a filing before the US Securities and Exchange Commission (SEC) stating that it had begun an investigation into an anonymous complaint alleging breaches of anti-corruption laws, specifically the FCPA.
Released on Oct 29, 2021
Released on Jun 28, 2021
Released on Jun 25, 2021
The Supreme Court of India has recently rendered its decision in Engineering Analysis Centre of Excellence v The Commission of Income Tax & Anr, finding that the amount paid by resident Indian end-users or distributors to non-resident computer software manufacturers or suppliers, as consideration for the resale or use of computer software, cannot be characterised as ‘royalty’ (that is, the use of copyright in the computer software) under Article 12 of the Tax Treaties.
Released on Jun 2, 2021