TaxBuzz – Direct tax measures announced by FM on 13-05-2020

The Hon’ble Prime Minister, Sh. Narendra Modi, had announced a stimulus package of Rs. 20 lakh crore, constituting 10% of the GDP, in his address made to the nation on 12th May, 2020 under ‘Atmanirbhar Bharat Abhiyaan’ to save the lockdown-battered economy. The Hon’ble Finance Minister, Smt. Nirmala Sitharaman, (‘FM’) addressed a press conference on […]

Impact of force majeure on commercial contracts in light of the coronavirus outbreak

The novel coronavirus (“COVID-19”) has, in some way or the other, affected almost the entire world’s population and significantly impacted businesses globally. With Covid-19 being declared a pandemic by the World Health Organisation and its consequential effect on trade and commerce, disputes have and will arise with respect to performance and enforcement of contracts. Under […]

Competition News Alert – CCI issues advisory for businesses during COVID-19

The Competition Commission of India (CCI) has issued official advisory to businesses in time of COVID 19 on 19th April 2020 . CCI has joined other competition authorities, including those in EU and USA abroad to remove Industry’s fears on consequences of any limited coordination between competitors to meet the shortage of supplies during the […]

Corporate Alert – FAQs on Questions on Companies Fresh Start Scheme -2020

Ministry of Corporate Affairs (“MCA”) vide its circulars dated March 24, 2020 and March 30, 2020 has come out with a “Companies Fresh Start Scheme-2020” giving one time opportunity to the companies to file belated documents without any additional fee. Further, the scheme also provides for grant of an immunity certificate from any prosecution or […]