News & Insights

The Indian Stamp Act, 1899, (Indian Stamp Act) requires certain class of documents or instruments[1] to be stamped by paying the applicable stamp duty. Non-payment of adequate stamp duty does not affect the legality or validity of the document per se, but such document is inadmissible as evidence before any authority, court or tribunal.

The Andhra Pradesh government recently constituted a High Level Negotiation Committee (HLNC) to renegotiate tariffs set under Power Purchase Agreements (PPAs) entered into by its power distribution companies (DISCOMs) with wind and solar power generators. The government said that high tariffs had driven the DISCOMs into nearly Rs 20,000 crore of losses as of July 2019

The Companies (Significant Beneficial Owners) Rules, 2018 (���SBO Rules�۝), were notified by the Ministry of Corporate Affairs (���MCA�۝) on June 14, 2018 and were further amended by the MCA on February 8, 2019, to ensure that adequate, accurate and timely information is made available on beneficial ownership and control of companies incorporated in India, and to provide clarity on the reporting requirements associated with the declaration of the beneficial ownership and control of companies in India.

Deeds relating to transactions on title of immovable property are presently registered under the Registration Act, 1908 (���Act�۝), without any verification of title of the land owner. In such transactions,��the onus of checking records of past ownership of a property is on the purchaser.