The Conundrum of Moratorium on ROC Filings Ever since COVID-19 has hit the world, economies of the world are fighting a constant battle with an invisible force to keep up their economies stable. Amidst such situation, Indian govt. had announced various relaxations vide General Circular No. 11/2020 dated March 24, 2020 for companies (including LLPs) operating in India. The circular provided for various relaxations such as: Moratorium on additional fee on late filings to the Registrar of Companies (ROC) through the MCA-21 Registry (MCA portal) Relaxation in time gap between two consecutive meetings Deferment of applicability of Companies (Auditor's Report) Order, 2020 to FY 2020-21 Relaxation from holding mandatory meeting of Independent Directors Relaxation in timeline for creating deposit repayment reserve Relaxation in making investment for redemption of debenture Relaxation in filing application for Certificate of Commencement of Business for newly incorporated companies Relaxat...

Corporate India Blog - E-Commerce Rules Under Consumer Protection Act 2019 Today in our quick read blog (No. 07/2020-21), we continue to present an outlook on the Consumer Protection Act, 2019 (‘Act’ or ‘Act 2019’) which has come into force from July 20, 2020, thereby repealing the erstwhile Consumer Protection Act 1986. Our quick blog will feature this Act in phased manner for next few days. We have covered some portions of this Act in our previous blogs and today our emphasis is on the e-commerce transaction mechanism, which have been introduced under this Act: E-commerce has been defined in the Act 2019, which should have been defined long back when we started to move towards a digital economy in mid 2000. Under the Act 2019 it means buying or selling of goods or services including digital products over digital or electronic network. It is clear that this definition has been drafted with open ends to cover any and every good or service, which may possess the component of digital...