VS Legal

SLEDGEHAMMER OR PRUDENT? Any registered entity/ NGO, operating for five years or more and has made at least INR 10 Lakhs in the previous three years to attain its main objectives audited by a qualified chartered accountant, such NGO is eligible for FCRA registration. They also need to be registered with the Ministry of Home Affairs. The Foreign Contribution (Regulation) Act, 2010 consists of a framework for regulating and controlling the acceptance and utilization of foreign contribution and foreign hospitality. The FCR Rules require the NGOs receiving more than a crore rupees or equivalent of foreign contribution to disclose the information. Such disclosure is to be done through the direct efforts of the NGO as per Rule 13. The FCRA certificate is valid for a period of five years and must be thereafter renewed in the prescribed manner. NGOs not eligible for registration can seek prior approval from FCRA for receiving foreign funding. This permission is granted only for a specific amou...

“ As for food, India has plenty of fertile lands; there are enough water and no dearth of manpower. The public should be educated to become self-reliant. Once they know that they have got to stand on their legs, it would electrify the atmosphere ” – Mahatma Gandhi Covid19 as a prospect in crisis The Covid ailment (COVID-19) pandemic, which began in the city of Wuhan, China, has immediately spread to different nations, at first to a great extent influencing Italy and the USA, with cases been accounted for around the world. As of May 8th, 2020, in India, 56,342 positive cases had been accounted for. India, with a populace of more than 1.34 billion—the second biggest populace on the planet—is experiencing issues in controlling the transmission of serious intense respiratory condition Covid 2 among its populace. Different systems are quickly to deal with the current episode; these incorporate computational demonstrating, factual instruments, and quantitative investigations to control the s...

A business can grow over time as the utility of its products and services is recognized in the Market. But in this era of Globalization where the environment is dynamic, competitive and rapidly evolving, Mergers and acquisitions has gained importance as a method of bringing immense inorganic growth to a business.  It provides various benefits to the entities which include increased resources, access to market, technology, reducing the competition, diversification of business, Regulatory, Tax and fiscal considerations. There is always a synergy value that gets created with the joining of two entities which is more when compared with their individual stands.  Mergers can be defined as union of two entities into one; acquisitions are situations where one player takes over the other to combine the bought entity with itself. It may be in form of a purchase, where one business buys another or a management buyout, where the management buys the business from its owners. Further, de-me...

Difficult times call for desperate measures. Emergency arbitrations enable a party to approach the arbitration institution before the arbitration tribunal is constituted and seek interim reliefs. The efficacy of an Emergency Arbitration, invoked by a party, survives on a chariot of two wheels: Fumus boni iuris- Reasonable possibility that the requesting party will succeed on merits; Periculum in mora – if the measure is not granted immediately, the loss would not and could not be compensated by way of damages. Since the amendment to the UNICTRAL Model Law (Model Law) in 2006 empowering arbitral tribunals to grant interim reliefs to parties, a number of arbitration institutions such as the International Centre for Dispute Resolution (ICDR), Stockholm Chamber of Commerce (SCC), International Chamber of Commerce (ICC), Singapore International Arbitration Centre (SIAC) and Hong Kong International Arbitration Centre (HKIAC) have amended their rules to provide parties with the remedy of ...