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Legal Updates

22 Jan 2020

DMCC Targets Ease of Doing Business in the Freezone

DMCC Targets Ease of Doing Business in the Freezone Dubai Multi Commodities Centre (DMCC) was established in the year 2002 as flagship hub for global commodities trade providing state-of-the art physical, financial and market infrastructure. DMCC released its new regulations viz. DMCC Company Regulations 2020 pertaining to company formation as…

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21 Jan 2020

Civil Court Judgments of UAE Enforceable in India

New Indian Reciprocal Agreement for Civil Judgments Passed by UAE Courts  Indian Ministry of Law and Justice (Department of Legal Affairs) vide Extraordinary Gazette on 17 January 2020 has declared the United Arab Emirates to be a reciprocating territory. Section 44A (1) of the Indian Code of Civil Procedure 1908…

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16 Jan 2020

The CCI-Directs Investigation into Indian E-Commerce Platforms

The CCI-Directs Investigation into Indian E-Commerce Platforms The Competition Commission of India (CCI) has directed the Director General (DG) to conduct investigation into operation of e-commerce portal such as Amazon and Flipkart, in order to determine if they contravene Section 3(1) and Section 3(4) of the Competition Act, 2002 (CA,2002).…

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15 Jan 2020

The Insolvency and Bankruptcy Amendment Ordinance 2019, Promulgated

The Insolvency and Bankruptcy Amendment Ordinance 2019, Promulgated The new law viz. the Insolvency and Bankruptcy Code Ordinance (IBC 2019) has been amended recently and brought into effect from 2020 to protect the Corporate Debtor and its assets from liabilities for offences committed prior to the commencement of Corporate Insolvency…

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14 Jan 2020

The UAE Economic Substance Regulations: Latest Version

The UAE Economic Substance Regulations: Latest Version The prime aim of the Economic Substance Regulations (New Regulations) is to provide transparency, uniformity and certainty in the tax regime so as to mitigate BEPS i.e. base erosion and profit shifting in an initiative to remove United Arab Emirates (UAE) from the…

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13 Jan 2020

The New ADGM Employment Regulations 2019

The New ADGM Employment Regulations 2019 The new ADGM Employment Regulations 2019 (Regulations 2019) have come into force on 1 January 2020. The new rules are launched after public consultation and superseded the old ADGM Employment Regulations, 2015. The provisions laid down in the new rules are as follows: 1.…

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