ELP LAW Updates

  Across the world, there is a growing demand on corporations to focus on sustainable development goals and strengthen the social responsibility of business. Working in sync with each other, while Governments are taking initiatives to bring legislative changes, investors also have started to value and consider such factors as key parameters for making an impact with their investment. The investors (such as private equity funds, venture capital funds, social venture funds, banks, financial institutions) are looking towards going a step further to not just focus on monetary returns but also achieve positive social and environmental impact. The impact of COVID-19 has already created ripples in the society to switch focus on various social goals. Against this backdrop, the framework in India has progressed significantly with increased accountability for directors, key personnel and more disclosures relating to businesses. A series of efforts have been taken by the Indian Government, on...

The Government of India circulated proposed E-commerce amendments to Consumer Protection (E-Commerce) Rules, 2020 (“E-Com Rules”) which were notified in June last year. The public comments on the proposal have been sought by 6th July, though in a virtual meeting held on 3rd July, 2021, various e-commerce players have sought extension of this time limit at least till the end of July, 2021 so that comments/inputs may be sent after deeper deliberation.   Each of the proposals suggested in the draft E-commerce amendment rules have far reaching implications on various aspects including how related parties, associated enterprises are regulated and banned from offering the products on the e-commerce entities’ website, the ban on flash sales or the ‘fall-back liability’ clause sought to be imposed on the e-commerce entity.    Further some of the proposals seem to regulate areas which are regulated by other regulations such as FDI Policy, Competition Act, Data Protection Regulatio...