Approves FII's NBFC investment; Insignificant cross holdings in same industry no deterrent |
CCI approves Caladium Investment Pte. Ltd.'s ('Acquirer', an affiliate of GIC, Singapore's sovereign wealth fund) investment in Bandhan Financial Services Limited ('BFSL', NBFC engaged in business of providing micro credit); Proposed combination includes subscription of 15.14% stake in BFSL and further 2% acquisition from BFSL's shareholder; CCI observes that though Acquirer and another affiliate of GIC have equity stake in companies engaged in financial services industry in India, i.e. Kotak Bank Ltd., Edelweiss Financial Services Ltd. and Asset Reconstruction Company (India) Ltd., they do not have "direct or indirect control over the said Portfolio Companies"; Thus, CCI observes that there is no horizontal overlap or vertical relationship between parties, thus, no appreciable adverse effect on competition in India:CCI |
Order under Section 31(1) of the Competition Act, 2002. |
Govt. panel to indentify Cos. Act's pinching issues; Videocon D2H withdraws IPO application |
Govt. panel to indentify Cos. Act's pinching issues; Videocon D2H withdraws IPO application |
'Artistic', gold plate Gods image copyright protected; Copyright & Designs Act interplay explained |
HC grants interim injunction against defendants' imitation of plaintiffs' 'artistic work' of producing images of deities and religious figures by gold plate in three-dimensional form, thereby infringing plaintiffs' copyright; Rejects defendants' contention that such work was 'design' under Designs Act, and since it was not registered as design, it did not have copyright after 50 applications as per Sec 15 of Copyright Act; Considering Copyright Act and Designs Act interplay, rules that an \'artistic work\' is drawing itself and copyright of artist consists in its reproduction in any medium and in any dimensions, however, designs are features of shape, configuration, etc., which are "applied to any article"; Observes that in present case, "the images in gold plates are themselves artistic works in which the plaintiffs have a copyright, quite apart from the base drawings which are used to make them. Any imitation of these images in gold plates or indeed any material is clearly violative of the Plaintiffs\' copyright in them"; Also rejects defendants' contention that images of deities were generic and so plaintiffs could not claim copyright over such work, holds that images of deities and religious figures and signs by plaintiffs in particular form, manner, arrangement and expression entitled them to claim copyright in such artistic works, relies on SC ruling in R.G.Anand v. M/s Delux Films:Bombay HC |
The ruling was delivered by Justice S.C. Gupte. Senior Counsel Iqbal Chagla along with Solicitor Naval Agarwal, Advocates Rajesh Satpalkar, Pinkesh Shah and Madhuri Roa argued on behalf of the plaintiffs. Defendants were represented by Senior Advocate H.W.Kane alongwith Advocates Aniruddha Sathe, Hiren Kamod and Aditi Kulkarni. |
Govt. constitutes Expert Committee for replacing multiple prior permissions & preparing draft legislation |
Govt. constitutes Expert Committee under chairmanship of Mr. Ajay Shankar (Former Secretary, DIPP) for examining the possibility of replacing multiple prior permissions with pre-existing regulatory mechanism and for preparing draft legislation; Prescribes the terms of reference to include: (i) Studying the requirement of various prior permissions, (ii) Examine the possibility of replacing these prior permissions with pre-existing (proposed) regulatory mechanism, (iii) Identifying safeguards while replacing the system of prior permission, (iv) Recommending framework of the proposed regulatory mechanism & (v) Drafting the proposed legislation; Expert Committee to submit the report within 30 days.Click here to read more. |
'Private Co.' definition made clearer for limited purpose of PPP funding |
With an intention of removing ambiguity in interpreting 'Private Sector Co.' and to align it with definition 'Government Co.' under the Cos. Act, 2013, Cabinet Committee on Economic Affairs, approves the change in definition of 'Private Sector Co.' in the guidelines for financial support to Public Private Partnerships in infrastructure; For limited purpose, 'Private Sector Company' definition is amended to mean a company which is not a 'Government Co.", where 'Government Co.' is defined u/s 2 (45) of Cos. Act, 2013.Click here to read more. |
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