SAFEMA - Appellant have furnished evidence which show satisfactorily that they took all reasonable steps to realise export proceeds : Tribunal (See 'Legal Desk') Companies Act - Winding up petition can be dismissed when contentions raised by parties constitute triable issues as Company Court cannot enter into adjudication of disputed facts of amount due and payable : HC (See 'Legal Desk') Competition Act - In absence of any apparent anti-competitive conduct, decision of purchase or sale of product and quantity thereof is driven by commercial considerations of market players : CCI (See 'Legal Desk') Principal Scientific Adviser chairs meeting to discuss Biomass Cultivation (See 'Corp Brief') India Pavilion at World Hydrogen Summit showcases Green Hydrogen Mission (See 'Corp Brief') Slum Rehabilitation Act - Preferential right to owner is available only when someone other than owner is being preferred and owner has never before been given or availed of right to develop : HC (See 'Legal Desk') CPC - Application can be dismissed as Intervener has already initiated its own remedy by way of independent Execution Petition : HC (See 'Legal Desk') SEBI Act - Appellant has not shown sufficient cause for condonation of delay in filing appeal : SAT (See 'Legal Desk') PMLA - When questions relating to legality of arrest is under consideration, more holistic and libertarian view is to release Chief Minister of Delhi on interim bail for Lok Sabha General Elections : SC (See 'Legal Desk') Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 - Order for forfeiture of properties is rightly made as property is occupied through lllegal earning : Tribunal (See 'Legal Desk') Arbitration Act - As petitioner is not notified as 'financial institution' or 'bank' under RDB Act, there is no bar on parallel proceedings to co-exist under A&C Act as well as SARFAESI Act : HC (See 'Legal Desk') Cr.P.C. - Once order issuing process has been set aside, then applicant has no right to file application u/s 482 of Cr.P.C. for quashment of complaint case : HC (See 'Legal Desk') Summer Power demand expected to be adequately met during both day and night (See 'Corp Brief') Competition Act - WordPress.org is justified in taking appropriate action against any developer found non-compliant with prescribed standards and regulations : CCI (See 'Legal Desk') Ministry of Skill signs MoU with Mahindra Ltd to conduct two Pilot Projects (See 'Corp Brief') SEBI Act - Operation of order can be stayed for appellant as he has resigned and has no role to play in decisions made thereafter for continuation of schemes : SAT (See 'Legal Desk') IREDA Global Green Energy Finance IFSC Limited incorporated in GIFT City (See 'Corp Brief') Trade Marks Act - Petitioner has no locus to challenge order as petitioner is not claiming itself to be manufactory in Madhya Pradesh and registration of its label under M.P. Beer & Wine Rules : HC (See 'Legal Desk') SARFAESI Act - Discretion to grant reduction in pre-deposit rests with DRAT and Petitioner has failed to make out any ground for interference : HC (See 'Legal Desk') Constitution of India - Petitioner is entitled for Capital subsidy : HC (See 'Legal Desk') Coast Guard inks MoU with Jindal Steel for boosting indigenous manufacturing capacity (See 'Corp Brief') Companies Act - Winding up proceedings pending before High Courts, which are at nascent stage and have not progressed to advanced stage, can be transferred to NCLT : HC (See 'Legal Desk') PMLA - Considering involvement of applicant in selling fake Remdesivir injection at higher price, applicant is not entitled for anticipatory bail : HC (See 'Legal Desk') Arbitration Act - Any amicable settlement not incompatible with arbitration agreement is encouraged by Arbitral Tribunal : HC (See 'Legal Desk') M.P. Nagar Tatha Gram Nivesh Adhiniyam, 1973 - Order passed by respondents is devoid of merit as land of petitioner is left open for purpose of any future road expansion : HC (See 'Legal Desk') Arbitration Act - Since appellant has failed to establish loss suffered, Arbitral Tribunal rightly rejected appellant's claim in this regard : HC (See 'Legal Desk') PMLA - Arrest order and consequent remand order are not illegal : HC (See 'Legal Desk') Keel-laying ceremony performed at Goa Shipyard (See 'Corp Brief') Companies Act - Winding up proceedings pending before High Courts, which are at nascent stage and have not progressed to advanced stage, can be transferred to NCLT : HC (See 'Legal Desk') SEBI Act - Extension of time can be allowed to SEBI to complete investigation : SAT (See 'Legal Desk') Arbitration Act - Respondent no.3 is not liable for repayment obligations of financial facilities extended by appellant to respondent no 1 company : HC (See 'Legal Desk') Mineral production grows by 8 percent in February (See 'Corp Brief') SARFAESI Act - Court refrains to adjudicate matter on merits when matter is already pending in DRAT : HC (See 'Legal Desk') Coal production in April up by 7.4% (See 'Corp Brief') SEBI Act - Appellants have made case for stay as rigours of directions of SEBI order would adversely affect business of Appellant as well as their clients : SAT (See 'Legal Desk') Trade Mark Act - Marks 'BETSONE' and 'BETASON' are deceptively similar to registered trademark 'BETNESOL' and visually, phonetically and structurally alike, with minimal alterations : HC (See 'Legal Desk') Voting by tribal communities blossoms as ECI's outreach to them bears fruit (See 'Corp Brief') SARFAESI Act - No fault can be found with respondent financial institution invoking Section 14 of SARFAESI Act by approaching District Magistrate, Rewa : HC (See 'Legal Desk') Ministry of Parliamentary Affairs observes Swachhata Pakhwada (See 'Corp Brief')

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DefExpo 2020 - Over 200 MoUs inked

Published: Feb 07, 2020

By TIOLCorplaws News Service

LUCKNOW, FEB 07, 2020: OVER 200 partnerships involving Signing of Memorandum of Understanding (MoUs), Transfer of Technology (ToTs) , Product launches were concluded on the third day of DefExpo 2020, at ceremony tilted “Bandhan”, making it the most successful such events to be held in India. The pacts, aimed at forging and renewing partnerships for innovative collaboration, and transformation of the Defence manufacturing in the country were inked by representatives of various DPSUs, Indian private Defence cos and foreign companies in the presence of Raksha Mantri Mr Rajnath Singh and Chief Minister of Uttar Pradesh Mr Yogi Adityanath in Lucknow.

Raksha Mantri described the signing of MoUs as a step in the direction to achieve Prime Minister's USD 5 billion defence exports target in next 5 years. The Defence PSUs and the Indian defence private industry were better placed today to lead India as the emerging R&D hub of the world leveraging the sharp minds of Indian youth. The liberalised licensing regime brought out by the government would surely attract large investments by both Indian and global companies, he stressed. Mr Rajnath Singh thanked all the stakeholder who signed MoUs and expressed hope that Uttar Pradesh would emerge as a Defence Manufacturing hub.

Among those MoUs signed today, 23 of them were by Uttar Pradesh Government.  Chief Minister of Uttar Pradesh, Yogi Adityanath said these MoUs envisage Rs 50,000 crores investment in the defence corridor setup in the state and generate 3 lakh job opportunities. He assured that investments coming to the state were secure  and  the state investment policy was the most attractive in the country. He also announced that HAL would soon supply Dornier 19-seater civilian aircraft to U.P.

Dr. Ajay Kumar, Defence Secretary said that this DefExpo would be remembered for many firsts - including for the signing of largest number of MoUs, ToTs and product launches. Bandhan ceremony witnessed more than 13 product launches, 124 MoUs between DPSUs, private and global defence manufacturing companies. 23 MoUs were signed between the UP Government and private companies.

Mr Sateesh Reddy, Secretary, Chairman of Defence Research and Development Organisation, said that it was DRDO's duty to ensure that the Defence corridor in Uttar Pradesh flourishes, hence DRDO signed a Technological partnership agreement with the state government, imparting skill training, hand holding and providing guidance in all aspects related to technology. A collaboration cell was already setup in the state to facilitate the process. He also mentioned that a Research and Development centre would be setup in the state that would act as a catalyst with respect to defence development. Technology transfer was made available at no cost to companies in order to further the defence ecosystem in the country. Further, the patents held by DRDO were given free to Indian companies to further develop technologies that would benefit Indian companies.

During the course of the ceremony, a major announcement in the form of issuing the Initial Operational Clearance (IOC) certificate of Light Utility Helicopter (LUH) was issued to Hindustan Aeronautics Limited (HAL). LUH is designed and developed as a replacement for Cheetah & Chetak helicopters which are currently being operated by Indian Armed forces.

LUH is a new generation helicopter in the 3-Ton class incorporating the state-of-the-art technology features which will meet the emerging needs in this class of helicopters in the coming decades.

OFB launched “Sharang” the 155mm artillery gun with 36 km range and handed over a model to Chief of Army Staff Gen M M Naravane. OFB also launched JVPC Alpha gun with 100 mt range,  Light Machine Gun of 800 mt range and UBGL - Under barrel Grenade launcher.

BDL launched Amogha-3 the anti-Tank Guided Missile. It is a man portable fire and forget missile.

BDL also launched Varunastra - the anti-submarine torpedo, manufactured under the technological guidance of DRDO.

Raksha Rajya Mantri Mr Shripad Naik, Mr Satish Mahana, Minister for Industrial Development, UP government and Mr Awanish Kumar Awasthi, CEO UPEIDA were also present during the ceremony.

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