NCLT Chennai on LLP Merging with Pvt. Ltd. Company
The Chennai Bench of the National Company Law Tribunal (“NCLT”), in its June 11, 2018 judgment in M/s Real Image LLP and M/ s Qube Cinema Technologies Pvt. Ltd. answered in the affirmative to the question of whether an Indian Limited Liability Partnership (“LLP”) can be allowed to amalgamate with an Indian private limited company under a scheme of amalgamation filed before the NCLT.
CBIC Starts Third GST Refund Fortnight
The Central Board of Indirect Taxes and Customs (“CBIC”) is set to start the third phase of the ‘Special Drive Refund Fortnight’ from July 16, 2018 – July 30, 2018 to clear all pending refunds under the Goods and Service Tax (“GST”). Dedicated refund cells and helpdesks would be provided for exporters to procure their refunds.
TRAI on Ownership of Data
The Telecom Regulatory Authority of India (“TRAI”), on July 16, 2018 published its recommendations on privacy, security and ownership of data in the telecom sector. TRAI recommended that entities controlling and processing all internet data in the telecom sector are mere custodians of the data and not owners of such data.