Nadda Visits NIPER Mohali, Reviews Biopharma Research and Innovation (See 'Corp Brief') BIS publishes six New Standards for Priority Assistive Products (See 'Corp Brief') Atmanirbhar Panchayat Program to focus on strengthening financial self-reliance of Panchayats (See 'Corp Brief') Bharat Khera Assumes Charge as Secretary, Ministry of MSME (See 'Corp Brief') Pilibhit in UP to get India's first integrated Basmati, organic training-cum-demo farm (See 'Corp Brief') FTA integrates Ayurveda and yoga into modern trade frameworks (See 'Corp Brief') India Grounds $6.1 Billion Investments in FY26, Expects 31,000 Jobs (See 'Corp Brief') Companies Act - Continuation of Look Out Circular invalid where no FIR is registered against person, all prior travel permissions are complied with & no material exists to show likelihood of him absconding: HC (See 'Legal Desk') Op Sindoor demonstrates transition from diplomatic statements to concrete action on terror (See 'Corp Brief') NARCL contributes to improving recovery outcomes & unlocking value for lenders (See 'Corp Brief') IPR - Issues relating to validity of trademark registrations, alleged misrepresentation, and authenticity of documents would be examined at trial, if no party is able to establish substantial goodwill in their respective marks: HC (See 'Legal Desk') DRDO & Indian Navy conduct maiden successful Salvo launch of NASM-SR missiles (See 'Corp Brief') Sacred relics of Lord Buddha arrive in Leh, witnesses spiritual gathering (See 'Corp Brief') PMLA - Separate properties of another company or LLP cannot be attached merely because of shareholding linkage, absent demonstrated money trail to such properties: SAFEMA (See 'Legal Desk') Electrification of buses & trucks is essential for achieving India's decarbonisation targets (See 'Corp Brief') Health-Seeking Behaviour Strengthens as Proportion of Population Reported Ailing in 2025 Nearly Doubles (See 'Corp Brief') IBC - Minimum default threshold u/s 4 is met in case involving operational debt denominated in foreign currency, if foreign currency amount is converted into Indian Rupees with reference to exchange rate prevailing on date of invoice: NCLT (See 'Legal Desk') Railway Minister to Flag Off Extended Srinagar-Jammu Vande Bharat (See 'Corp Brief') Competition Act - Tender conditions & eligibility criteria are primarily within procurer's domain and, absent evidence that such clauses restricts competition or cause exclusionary harm, no intervention is warranted: CCI (See 'Legal Desk') Secretary, DFS Lauds MUDRA Schemes of Financial Inclusion with Public Sector Banks (See 'Corp Brief') Trade Mark - Defendants' conduct of running a coordinated fraudulent recruitment scheme, impersonating the plaintiffs & extracting money from each candidate, is deliberate exploitation of plaintiffs' goodwill & causes reputational harm: HC (See 'Legal Desk') CCI approves Mizuho Securities to acquire certain equity of Avendus Capital (See 'Corp Brief') SAFEMA - Certain transaction falls within ambit of benami transaction where appellants failed to produce supporting material, despite opportunity, to establish legitimate source of funds either in hands of lender or alleged contributors: SAFEMA TRIBUNAL (See 'Legal Desk') CCI approves merger of A1 Agri Global, B.N. Agritech & Salasar Balaji Overseas (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') CCI approves acquisition by MAIF in Maple IM, Maple PM & Maple Trust (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') World IP day - Govt announces 3-year fee waiver for sports-related IP registrations (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT)

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India, UK ready to deepen trade relations post Brexit: Goyal

Published: Jul 16, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 16, 2019: THE Union Minister of Commerce & Industry, Mr Piyush Goyal, yesterday stated that the Indian Government is looking for ideas from all sides to strengthen and to give confidence to international investors, with the best of technologies, to come to India and invest. Interacting with the Indian diaspora in London last night, he stated that the Indian community has made India proud by their contributions to the economies of India and the United Kingdom and have also strengthened relations between the two countries. During his hour long interaction with the Indian Diaspora the Commerce Minister explained the strategy and focus of the newly elected Government. During its first term, the stress was on meeting the basic necessities of common citizens like, housing, electricity, cooking gas and financial inclusion, which has made a huge impact and difference to the lives of the citizens down to the last mile.

Mr Goyal termed the India Day event, which he would address on July 15, evening, where think tanks and finance companies would come together, as very important, because he would be able to highlight the package of incentives for financial companies, announced by the Finance Minister, Ms Nirmala Sitharaman, in the Union Budget 2019-20. He stated that he would showcase India's financial sector, in particular, the Gujarat International Finance Tec-City near Gandhi Nagar in Gujarat.

Mr Goyal further said that the FTAs entered into by India in 2009-10 had not been good deals and some of them are causing agony which is why India is looking at the United States to put that baggage behind and move forward. He informed that he is meeting with leaders of the Government and bureaucracy, during his three-day visit to the United Kingdom, to understand in which direction and time frame the UK is looking at for the BREXIT to happen. India is also in discussions to take the next step for deeper engagement with the UK. It is important the process is fast tracked now so that both nations are ready to work together speedily once BREXIT comes into effect, he mentioned.

Regarding the ongoing RCEP negotiations, Mr Goyal said that India is working for a fair deal which protects the country's interests and does not allow unfair market access. From now no agreement or trade pact on commerce would be at the cost of Indian interests, the country's sovereign requirements and interests of the citizens, said Mr Goyal. He informed that the Ministry is now trying to speed up the entire process and streamline the patent office. There was a 7-year backlog in 2014. He informed that from now on all patent applications would be in the public domain and transparency would be maintained. In respect of IPR enforcement, Mr Goyal mentioned that India has a long way to go as the process itself is very slow at the moment. The entire framework around IPR has to be strengthened in order to give confidence to international investors, with best of technologies, to come to India and invest.

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