Considering the current economic and socio conditions prevailing not only in India, but across the world, the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (“the Ordinance”) was promulgated in March, 2020 to provide certain relaxations in the provisions of the specified acts with respect to the time limits, compliances, waiving of penalties etc. In this post, the author highlights the main features of the Act.
In this article, the author attempts to bring clarity to the issue concerning the entitlement of tenants to seek waiver/ suspension of payment of rents, in the absence or presence of a Force Majeure clause under commercial lease/ license agreements, during the period of lockdown as well as post lockdown.
In this post, the author highlights the impact of the COVID-19 crisis on the highly productive oil industry. The author proceeds on to discussing the Indian regime relating to production sharing contracts. Further, the author highlights the significance of the six member panel appointed by the central government for the recovery of profits and review of the existing production sharing contracts between the contractors and the Government.