About the Organization

The company’s Senior Partner is Mr. Akshay Arora. Since 1985, Mr. Arora has been in private practise and was a member of another law firm in Bhopal before founding UNI LEGA CHAMBERS. His specialties include commercial/corporate litigation, international trade and customs, banking and finance, legal support for infrastructure projects, and real estate services. Additionally, he has extensive and important experience in situations pertaining to conveyance and arbitration. The firm also counts Mr. Praval Arora as a partner. In addition to income tax returns, direct tax compliances, TDS compliances, planning & consistency, LLP incorporation, LLP agreements, company valuations, and business valuation certification, he specialises in advisory work in the area of tax compliances. He is interested in alternate forums and domestic and international commercial arbitration.

About the Responsibilities  

Litigation, due diligence, and general corporate practise positions available, as an associate.

Location

Defence Colony, New Delhi

Eligibility

  • The applicant needs to be knowledgeable about procedural laws.
  • The applicant must be knowledgeable about, possess the necessary research abilities, be able to create legal documents, and have some experience doing so (Lit & Non-Lit).
  • We are accepting applications from recent law graduates who are registered with the Bar Council and want to advance their careers by learning new skills and taking on difficult work in addition to our General Corporate and Due Diligence practise.
  • PQE-1-2 years

How to Apply?

Interested candidates may apply from here: – praval@unilega.com and chesta@unilega.com with subject: ‘Job Application – Associate’.

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About the Organization

NKR Law Offices is a boutique law firm with offices in New Delhi and Kolkata, India, that was established in 2019 by three graduates of the National Law School of India University.

At NKR Law Offices, we offer customers legal counsel on all corporate-commercial and dispute-resolution-related issues. Financial organisations, manufacturing companies, technological service providers, educational institutions, and people are just a few examples of our clients.We have helped clients with their joint ventures, investments, loans and borrowings, general contracts, and consulting matters through the corporate-commercial vertical.

In cases involving insolvency law, arbitration, white collar crimes, and civil-commercial litigation, our litigation team has defended our clients before the Supreme Court of India, the High Court of Delhi, the National Company Law Tribunal, and other courts and tribunals.

About the Responsibilities  

To join us on the disputes/litigation team at NKR, we are hiring a colleague.

Although the candidate will be given preference over experience, please emphasise any relevant experience you may already have. The candidate will determine the compensation.

How to Apply?

Interested candidates may apply from here: – (i) a brief CV; and (ii) a short writing sample of any legal writing by you that we can peruse.

office@nkrlaw.com and CC: akumar@nkrlaw.com

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INTRODUCTION

A virtual asset is a digitalized representation of an item that has a proper value in a particular environment, for example, Bitcoin, Litecoin, or Dogecoin. In virtual assets, the medium of exchange or the property can be traded, transferred, or invested digitally. Over a decade virtual currencies are also considered virtual assets, virtual currencies are a digital representation of value that has a unit of account, store of value, and medium of exchange, it has also proliferated and has the potential for abuse, corruption, and illicit activity. Virtual assets have potential benefits like they could make payment easier, faster, and cheaper. The Financial Action Task Force (FATF) is an inter-governmental body that aims at preventing the laundering of money and terrorist financing.

All virtual assets are considered to be digital assets, but not all digital assets are virtual assets. Digital assets like bank records, which represent ownership are not considered to be virtual assets. The virtual asset must-have features like whether it can be traded or transferred and used for payment. If the asset is merely just ownership it is not considered a virtual asset. NFT (Non-Fungible Token) is a digital asset that is unique and interchangeable; it is considered to be a digital asset unless used for payment or investment purposes. Worldwide NFT is classified as a non-taxable asset and in the future, it should be considered that the Crypto token is different from digital NFT. Cryptocurrency is a kind of virtual currency that is distributed across an oversized number of computers which makes it impossible to counterfeit or double spend. It is a new paradigm of money. Bitcoin is the most popular cryptocurrency. Other cryptocurrencies are Binance Coin, Solana, and Cardano.

BACKGROUND

The first virtual digital asset, the digital coin Bitcoin was introduced in the year 2009 and now there are nearly 10,000 different types of different assets. In recent years the prices of virtual assets are growing rapidly. Since 2017 the government monitors the development of the virtual asset sector and it also aims to develop the market, prevent unlawful activities and improve transparency in financial transactions. The government also promotes blockchain technology so that innovation can be brought in several areas. The government helps to improve transparency in virtual asset transactions.

VIRTUAL ASSET SERVICE PROVIDER (VASP)

Virtual Asset Service Providers means organizations or persons who conduct activities related to the transfer, exchange, or administration of virtual assets. Regulating the Virtual Asset Service Provider can play an important role in preventing terrorist funding and money laundering. The Virtual Asset Service Provider is an entity that conducts –

  1. Exchange between virtual assets and fiat currencies
  2. Transfer of virtual asset
  3. Exchange between one or more forms of virtual asset
  4. Administration of virtual asset
  5. Participation in the provision of financial services

FATF closely monitors the development in the crypto-sphere mostly in the virtual asset sector. With the help of G20, FATF has some standards to prevent the misuse of money, laundering, and terrorist financing. FATF standards ensure that virtual assets are treated fairly and the rules apply when they can be exchanged for fiat currencies. VASP includes virtual asset trading service providers, virtual asset safekeeping and administrative service providers and virtual asset digital wallet service providers, and virtual asset digital wallet services that are engaged in purchase and sale, safekeeping and administration, and virtual asset transactions. VASP is engaged to report their transactions to KoFIU. KoFIU set up guidelines in 2018 for anti-money laundering regulations. While dealing with VASP, details are provided about types of suspicious transaction activities while using virtual assets so the bank rejects the opening of the new account for VASP when user information is not provided.  KoFIU has oversight and supervisory function over the virtual asset sector. The government will continue to upgrade the regulatory framework to enhance supervision and risk management.

UNION BUDGET 2022

The Finance Minister announced a scheme for the taxation of virtual digital assets like Cryptocurrencies, Non-Fungible Tokens at the rate of 30%. As there is an increase in the magnitude and frequency of these transactions there is a need to provide a specific tax regime. The income which is proposed under this regime is to be computed without reducing the effect of deduction. Any loss arising out of this would not be allowed to be set off income in any other head. The Budget proposed to introduce TDS at a 1% rate on the transfer of virtual assets. Virtual Digital Asset gifts are also taxed at an applicable rate. The provisions are effective only from April 1, 2022, if a cryptocurrency is transferred before April 1, 2022, these provisions are not applicable.

It was also clearly stated that mere recognition of the digital asset under the income tax is not amounting to granting legal status. This tax is similar to a tax on gambling as it mainly focuses on the interest of an investor. By this budget of 2022, it is clear that if you hold the cryptocurrencies then income derived from these will be taxed to 30 percent and any profit generated by the cryptocurrency trade will be taxed 30 % including the gifts and transfer of these assets. The government has kept a fixed rate of 30% so that all investors pay an equal percentage to the government in the form of tax. The cryptocurrency tax method includes the HIFO method. HIFO inventory helps to decrease taxable income in the company where the highest cost of goods is sold. HIFO method is very beneficial for investors those who often use the highest cost basis coin and apply it to coin sold.

TAXATION

The tax imposed by the central government is quite harsh. The 30% tax rate and restriction to set off losses is a significant deviation from the existing tax principles. It is tough to accept that gifts with respect to digital assets are also taxed. The taxation is clearly defined. Taxation of virtual digital currency means the crypto asset will not be banned. The Cryptocurrency and Regulation of Official Digital Asset Currency Bill, 2021 was also established which threw away the concern of virtual currencies being banned in India. This is another drastic move where even this is recognized as alternate investment equity. Most probably in the future, the RBI may launch its own cryptocurrency. The identity of the payee is difficult to be found in digital asset trade, if the PAN is not available then the TDS will be 20% and provisions related to TDS can also lead to some complications. Government should also allow the gaming industry and others to be developed without the tax burden.

CONCLUSION

Taxation of cryptocurrency to 30% is a positive move as it brings some faith in the investors. The taxation and recognition of crypto is an asset for income tax but it does not provide recognition under the law. When we use cryptocurrency the transaction cost is so low and the transaction can be made at any time and there is no limit for the purchases and withdrawal. It is good that people are exposed to new kinds of digital assets. The main disadvantage of cryptocurrency is that it may have many illegal transactions and it is not possible for the government to keep track down of all of its users. There is a high risk of loss of data, if the user loses the private key to their wallet they will not get it back. Cryptocurrencies within the market are controlled by their creators and some organization. These cryptocurrencies familiarize Indians with the benefits and efficiency of cryptocurrency; it builds an appetite for crypto and employment opportunities that can be given in the field of cryptocurrency. Cryptocurrencies are a worldwide phenomenon that may replace general currencies. It progresses to a cashless society.


REFERENCES

  1. Quimbayo, C. V., & Broby, D. (2021). The Regulation of Initial Coin Offerings, Virtual Assets and Virtual Asset Service Providers.
  2. Besley, T., & Persson, T. (2013). Taxation and development. In Handbook of public economics (Vol. 5, pp. 51-110). Elsevier.

This article is written by Sree Lekshmi B J, third year law student of Sastra University, Thanjavur.

-Report by Zainab Khan

The Delhi high court held in the case of Anil Bali Vs Union of India and others, that the courts can’t interfere in writ petitions filed u/a -226 of the Indian constitution if the petition is premature.

FACTS

When Petitioner was posted as senior commandant officer of CISF at Kochi Port Trust, a complaint of CISF constable using fake caste certificate in his recruitment was lodged. The petitioner was appointed by the respondent to probe into the matter. The petitioner taking reference from the case of Kumari Madhuri Patil Vs Addl. Commissioner (1994) 6 SCC 241, asked the district collector to inquire about the genuineness of the caste certificate. Meanwhile, the constable remained absent from his duty for that period and also refused to appear before a competent authority. Hence, he was punished with compulsory retirement and a 10% cut in a monthly pension because of overstay leave (OSL). On 13th December 2019, the respondent issued a charge sheet against the petitioner for not giving a proper explanation about the constable’s fake caste certificate. The petitioner filed a writ petition under Article 226 of the constitution for quashing the memorandum of charge.

PETITIONER’S CONTENTION

The Learned counsel for Petitioner argued that since the Petitioner was a senior officer he was bound to follow the rule laid in the Kumari Madhuri Patil case. He further argued that the respondent has taken action without examining the reply of Petitioner on 1st November 2017 in which he mentioned rule 9 of Andhra Pradesh schedule caste, certificate
rules 1997 and more acts. The counsel further contended that the respondent’s act was in contravention with rules laid down in Government of A.P & ors Vs A Venkata Raidu (2007) 1 SCC 338 and Kumari Madhuri Patil case. The counsel seeks a writ of certiorari to quash proceedings taken against the Petitioner.

RESPONDENT’S CONTENTION

The learned counsel for the respondent argued that the petitioner has not performed his duty in a bonafide manner and the charge sheet was filed against him u/rule -14 of CCS(CGA) rules,1965 because he has not taken necessary
action against the constable who used a fake caste certificate. He further argued that the petitioner had never mentioned Kumari Madhuri Patel’s case in his reply. The counsel pleaded that the court should not interfere, as
the writ petition is premature as the petitioner has not participated in any prior proceedings of the charge sheet. The counsel relied upon the judgments of Union of India & anr Vs Kunishetty Satyanarayana (2006) 12 SCC 28 and Shashi Bhushan Prasad Vs Inspector General, CISF & ors (2019) 7 SCC 797, where it was ruled that courts should not interfere in the disciplinary proceeding under its limited scope of Article-226 &227 of Indian constitution.

JUDGEMENT

The court examined that petitioner has directly filed the writ petition before HC without going with departmental proceedings and didn’t use the various grievances system available to him. The court ruled that petition being of such premature nature is not maintainable against the mere issuance of the charge sheet. The court relied upon the judgment of Kunishetty Satyanarayan, where it was held that a writ petition should not be entertained against a mere show-cause notice or charge sheet because at that stage the petition may be held to be premature. The writ petition was dismissed because of its premature nature.

It was observed

“The petitioner cannot be permitted to put the cart before the horse. The present petition is based on preponderance of probability as the same is arising out of a charge-sheet issued by the respondents which has not commenced and is yet to see light of the day. Having said so, it is a matter of fact that today there is no adverse order under challenge before us. The present petition is thus pre-mature.”

The court held there is no scope for their interference in the writ petition under Article 226. The writ petition was dismissed.

-Report by Riddhi Ray

It was held by the Supreme Court of India in the case of MUNUWA @ SATISH ETC. V. THE STATE OF UTTAR PRADESH that If the prosecution fails to prove its stand without any doubt the accused will be benefitted and will be set free from all the charges of the crime.

FACTS

An appeal had been filed challenging the judgment of Allahabad high court upholding the punishment of life imprisonment and imprisonment for 4 years of the Bareilly sessions court u/s 302, 307 of IPC respectively. The facts are as follows.

On 24th August 1979 around 6:30 p.m. Iqbal bahadur was sitting along with Dr. Asghar (PW-6) in verandah of his office within college campus. Three accused Gullu Rajesh (A1), Vimal Chunnu (A2), and Munuwa Satish (A3) entered the verandah and fired gunshots toward the deceased as well as the deceased’s physician friend (PW-6) and fled away. PW-6 carried the deceased first to the dispensary and then to Aliganj station. At 8:30 p.m. Deceased lodged an FIR u/s 307 of IPC.

After the FIR was registered, he was sent to Bareilly General Hospital by the Head Constable (PW-4) at around 11:00 p.m. PW-6 reached there at 2:00 a.m. on the next day. The statement of the deceased was recorded there by Tehsildar and the magistrate between 11:10 a.m. to 11:20 a.m. And later he passed away on 27th August 1979 at 2:35 a.m. owing to shock and hemorrhage.

The trial court in the judgment dated 31st January 1981 declared the FIR valid and quashed the appellant’s contention. The FIR was considered as the first dying declaration of the deceased against A-2 but the same cannot be applied against A-1 & A-3. The appellants had stated therein that there is an ambiguity in the statements of PW-1 & PW-6 due to intimidation by the accused. Further, the deceased’s statement recording on the 25th is skeptical. However, the trial court discarded these contentions and sentenced the accused u/s 302, 307 & 34 of IPC for life imprisonment & imprisonment for 4 years respectively.

The high court in its judgment rendered the same view as was previously observed by the Trial court. It gave preference to the first declaration made by the deceased over the second one and ambiguity of PW-1 & PW-6 was considered normal as they used to live in the same locality as of accused. During trial A-2 died so, the appeal was concerned with A-1 & A-3.

Appellant’s Contention

Shri Venkita Subramaniam claimed the FIR to be false as it was submitted to the court later than it was supposed to. The place of occurrence and the statement of witnesses PW-1 & PW-6 are suspicious. If the eyewitnesses are discarded then the whole story of prosecution becomes baseless as there’s no strong evidence like the recovery of weapons.

Respondent’s Contention

Sh. Sanjay Kumar Tyagi submitted that the Trial Court and the High court’s decisions are based on reliable evidence and eyewitnesses had no interest or enmity towards the appellant so the courts’ decisions are just.

COURT’S DECISION

The court observed that the cross-examination amplified a lot of ambiguity in the statement of PW-1. The prosecution was not able to produce any weapons or bullet cartridge which is alleged to have been used in such murder. It was observed:

“the prosecution failed to recover blood-stained materials from the place of occurrence, empty cartridges, pellets,
or any other weapon used for commission of the crime, coupled with the contradictions and unnatural conduct of the eye witnesses PW-1 and PW-6, and the inconsistencies in the two dying declarations, we believe that the prosecution has not proved the case beyond a reasonable doubt, and the accused are entitled to be given the benefit of doubt.”

The decision of the High Court was set aside and the accused were set free from all the charges.

About the Organization

The Ministry of Youth Affairs and Sports of the Government of India founded the Sports Authority of India in 1984 to serve as the country’s highest national sports authority to promote sport throughout the country.

About the Responsibilities  

SAI is looking for qualified individuals to fill the position of Junior Consultant, who will provide legal advice on a contract basis.

For more details:-

https://sportsauthorityofindia.nic.in/sai/public/assets/jobs/1660897564_JC_Legal.pdf

Deadline for Applying

02.09.2022 till 05:00 PM.

How to Apply?

Interested candidates may apply from here: –  http://sportsauthorityofindia.nic.in/saijobs/

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About the Organization

Sync Legal is a boutique law practise committed to assisting you in managing, mitigating, and resolving your legal issue as well as providing guidance on subjects ranging from personal to professional.

About the Responsibilities  

Law Internships available at Sync Legal in-person for the following positions:

Interns in assessment:- 2 (Preference shall be given to fresh law graduates registered with Bar Council)

research interns-2

Location

SYNC LEGAL, Connaught Place, New Delhi.

Time Period

September – October

Deadline for Applying

30th August 2022

How to Apply?

Interested candidates may apply from here: –  

https://docs.google.com/forms/d/e/1FAIpQLSdvqVd8AK82d712N1hshumMcsz4sxQX8qGuHrigyhG2wxz-7w/viewform

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About the Organization

We continue the tradition of giving each and every customer individualised attention at AKJ Attorneys & Solicitors LLP. We founded this company 30 years ago, motivated by a single philosophy of “transparency,” as committed and values-driven individuals. Since since, it has been our aim!To do that, we make sure that our clients are as knowledgeable as we are about their “legal cause.”

This can only be accomplished by one-on-one conversations with our client, which will allow us to offer full service alternatives with specially developed methods meant to produce the best possible result for the client. We don’t favour protracted legal disputes, which is why we have a history of resolving nearly 70% of cases solely through mediation, sparing our clients from years of suffering and court appearances.

About the Responsibilities  

Law students that are interested in working as interns at AKJ Attorneys & Solicitors LLP are needed.

Eligibility

  • Gurgaon is home to the company.
  • Applicants must be at least third-year students.
  • The internship will not be compensated.
  • The internship will operate offline.

How to Apply?

Interested candidates may apply from here: –  akjattorneysinternship@gmail.com

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The Centre for Business Laws and Taxation (CBLT) of Rajiv Gandhi National University of Law (RGNUL), Punjab is organizing an international conference on Artificial Intelligence and Law on November 11 and 12, 2022.

ABOUT

The Centre for Business Laws and Taxation (CBLT) has been established with a view to promoting interdisciplinary research on Business Laws and Taxation. The Centre aims to engage in diverse activities including, but not limited to, organizing Webinars, Conferences, Workshops, and Moot Court Competitions; initiating credit and non-credit Courses; publishing Newsletters and Blog Series; engaging in meaningful research on business laws and taxation etc.

THEME

  1. AI and Lethal Autonomous Weapon Systems: International Humanitarian Law Perspectives
  2. Big Data and its regulation
  3. AI, Healthcare and Legal Liability Regime
  4. AI, Data Privacy, Data Protection and Law
  5. AI systems for Legal Professionals
  6. AI in Education
  7. XAI and Law
  8. AI, Forensic Criminalistics and Criminal Justice System
  9. AI and Jurisdictional Issues

SUBMISSION GUIDELINES

  1. The research papers should pertain to any of the sub-themes of the conference.
  2. Participants shall be required to submit an abstract of around 350 words.
  3. Abstract shall also contain, the name of the author/authors, email Id of the author/s, contact number and designation.
  4. Acceptance of abstract will be communicated within 15 days after submission.
  5. A payment link will be shared separately if the abstract is selected.
  6. The full paper should not exceed 6000 words.
  7. It shall be typed in Times New Roman, Font Size 12 on A4 size paper with 1” margin on all sides with 1.5 line spacing using MS Word.
  8. Abstract and Research Papers should be emailed to cbltevents[at]rgnul.ac.in
  9. Citations shall be strictly in accordance with the Bluebook (20th Edition).
  10. University may publish accepted papers.
  11. Publication of papers shall be the exclusive discretion of the University.
  12. A maximum of 2 authors are permitted per paper

REGISTRATION FEE

  1. Students and Researchers: INR 800
  2. Academicians: INR 1000
  3. Co-authors: INR 1500
  4. Conference Participation Fee: INR 500

IMPORTANT DATES

  1. Abstract / Proposal Submission: August 31, 2022
  2. Last date of Registration: September 30, 2022
  3. Full Paper Submission: October 25, 2022
  4. Date of the Event: November 11-12, 2022

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School of Law, Sathyabama Institute of Science and Technology is organizing a two-day national conference on E-Governance in Digital India and is making a call for papers for the same.

ABOUT

Sathyabama School of Law aspires to be an international Centre for research and teaching in law. School of Law is dedicated to advancing human dignity, social welfare, and justice through knowledge of the law.

THEME

  1. Digital Government platforms (Data, services, laws, information)
  2. ICT in the department of law
  3. Access to law and government services
  4. Digital Platforms and Digital Economy
  5. Building Digital Trust- Transparency, Security, and Privacy
  6. Digital Payments and Fintech
  7. National e-Governance Service Delivery Assessment (NeSDA) and Digital Service Standards (DSS)
  8. The National e-Governance Plan (NeGP)
  9. e-Kranti – Electronic Delivery of Services
  10. The Department of Administrative Reforms and Public Grievances (DARPG)
  11. Digital democracy
  12. Mobile Government: Challenges, opportunities, standards, and protocols
  13. Data-driven public policy and decision-making
  14. Technology Management for E-Govern solutions

SUBMISSION GUIDELINES

  1. Author particulars– Name in one line and Affiliation with email and phone number
  2. Abstract within 200 words, in italics
  3. 3 to 6 keywords
  4. Full paper should not exceed 5000 words
  5. Reference should be in the 20th edition Harvard Bluebook
  6. Submission in MS Office Word
  7. Font-“Times New Roman”, Font size -“12pt”, Line space-“1.5”
  8. All reference should be in the form of footnotes with font size 10 and should be according to the Harvard Blue book 19th edition.

ELIGIBILITY

Original unpublished Research Papers/Articles and Case studies are invited from academicians/research scholars/advocates and students for presentation at the Conference. The papers will be selected after a plagiarism check of permissible up to 10% of a Turnitin.

IMPORTANT DATES

  1. Last date for registration/ submission abstract: August 28, 2022
  2. Confirmation of Abstract: August 29, 2022
  3. Last date for submission of full paper: September 2, 2022

REGISTRATION FEE

  1. For Academics/NGOs: INR 100
  2. For Research Scholars: INR 750
  3. For UG and PG Students: INR 500
  4. For every Additional author: INR 500

https://forms.gle/BT47QXFzbfasZCe57

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