REAL ESTATE UPDATE 15 June, 2022 Issue No. 07/22-23 PROFORMA OF THE ALLOTMENT LETTER | MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY In order to bring transparency and standardization in the real estate dealings, the Maharashtra Real Estate Regulatory Authority (“Authority”) issued an order dated 3rd June 2022 (“Order”) standardizing the proforma of the Allotment letter to … Read More >
CORPORATE LAW UPDATE 3rd June 2022 Issue No. 06/22-23 AMENDMENT OF COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) RULES, 2014 Vide notification dated 1st June, 2022, the MCA has notified Companies (Appointment and Qualification of Directors) Amendment Rules, 2022 thereby amending Companies (Appointment and Qualification of Directors) Rules, 2014 (“Rules”) by inserting provisos in Rule … Read More >
CORPORATE LAW UPDATE 1st June 2022 Issue No. 05/22-23 AMENDMENT OF COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS) RULES, 2016 Vide notification dated 30th May, 2022, the MCA has notified Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2022 thereby amending Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (“Rules”) by inserting sub-rule (4) in Rule 25A and a … Read More >
EMPLOYMENT LAW UPDATE 27th May 2022 Issue No. 04/22-23 NOTICE PERIOD SALARY NOT OPERATIONAL DEBT UNDER IBC Recently, in Sandesh Naik v. MT Educare Limited [C.P. (IB) -678 (MB)/2020], the NCLT – Mumbai bench has held that salary for purported notice period which needs to be specifically performed as per the appointment letter, would … Read More >
REAL ESTATE UPDATE 26th May 2022 Issue No. 03/22-23 AMNESTY SCHEME | SLUM REDEVELOPMENT IN MUMBAI In order to revive the stalled slum redevelopment projects, the State Government of Maharashtra issued a Government Resolution dated 25th March 2022 (“GR”) for implementation of the Amnesty Scheme thereby providing measures for reviving the stalled slum redevelopment … Read More >
REAL ESTATE UPDATE 16th May, 2022 Issue No. 02/22-23 CHANGES IN STAMP DUTY CHARGES IN MAHARASHTRA The stamp duty charges levied under the Maharashtra Stamp Act, 1958 (“Act”) have been amended and updated as follows: The stamp duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on transaction of Sale, Mortgage and Gift Deed … Read More >
CORPORATE LAW UPDATE 28th April, 2022 Issue No. 01/22-23 AMENDMENT OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 Vide notification dated 25th April, 2022, SEBI has amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Regulations”) to modify the provisions with respect to transmission of securities. Accordingly, … Read More >
EMPLOYMENT LAW UPDATE 31st MARCH 2022 Issue No. 30/21-22 UNION CABINET APPROVES HIKE IN DEARNESS ALLOWANCE FOR CENTRAL GOVERNMENT EMPLOYEES On 30th March 2022, the Union Cabinet gave its approval to release an additional instalment of Dearness Allowance to Government Employees and Dearness Relief to Government Pensioners, with effect from 1st January 2022. This … Read More >
REAL ESTATE UPDATE 24th March 2022 Issue No. 29/21-22 MAHARASHTRA LEGISLATIVE ASSEMBLY PASSES BILL EXTENDING SET – OFF PERIOD FOR PAYMENT OF STAMP DUTY ON RESALE OF IMMOVABLE PROPERTY As reported in the Times of India[1], the Maharashtra Legislative Assembly has passed a Bill which inter alia extends the set-off period for payment of stamp … Read More >
REAL ESTATE UPDATE 23rd March 2022 Issue No. 28/21-22 RIGHTS UNDER MAHARASTRA OWNERSHIP FLATS (REGULATION OF THE PROMOTION OF CONSTRUCTION, SALE, MANAGEMENT AND TRANSFER) ACT, 1963 CANNOT BE ENFORCED ON MMRDA LANDS In a recent matter, a Division bench of the Hon’ble Bombay High Court (“Bombay HC”) in Shahed Kamal & Ors. v. Pagarani Universal … Read More >