Enhancing Whistleblower Protection: Safeguarding Whistleblowers Reporting Misconduct and Illegal Activities
Introduction The act of an individual, wherein such individual reports or intimates an activity, which may be illegal, illicit, irregular, dangerous, unethical and against public welfare and policy, to the appropriate higher authorities, whether external or internal, who may have such discretionary powers to direct a corrective measure is generally considered as the act of …
A Dawn of a New Era for Data Protection in India: An in-depth analysis of the Digital Personal Data Protection Act, 2023
Introduction India has ushered in a new era in the context of data protection. Thus far, we have had to rely on the Information Technology Act, 2000 (“IT Act”) and Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 (“SPDI Rules”) as the only legislations for the interpretation of …
DECODING NFTs AND INTELLECTUAL PROPERTY: GLOBAL LEGAL PERSPECTIVES
In recent years, the world has witnessed the rise of non-fungible tokens (NFTs) as a new and exciting digital asset. NFTs have gained significant popularity, particularly in the realms of art, collectibles, and gaming.
RBI’S DEFAULT LOSS GUARANTEE GUIDELINES: A SAFETY NET FOR FINTECH
In a significant move, the Reserve Bank of India (RBI) has recently issued Guidelines on Default Loss Guarantees (DLG) in Digital Lending.
THE RISE OF SPAC (SPECIAL PURPOSE ACQUISITION COMPANY): A NEW ERA IN PRIVATE EQUITY
Introduction Special Purpose Acquisition Companies (“SPAC”), which is a popular option for companies that wish to go public in a relatively short period, exploded in the early 1990s in the United States, which doubtlessly caught the markets off-guard.
LEGAL CHALLENGES OF AI BIAS IN INDIA: ADDRESSING THE ISSUE OF FAIRNESS AND DISCRIMINATION
Artificial Intelligence (“AI”) is becoming a prevalent technology in India with widespread application in industries such as healthcare, banking, transportation, etc. However, as AI is increasingly used in decision-making, the possibility of AI bias is a growing concern. This transpires when AI algorithms produce systematically biased findings towards specific groups or individuals, potentially impacting fairness …
PREVENTION OF MONEY LAUNDERING (MAINTENANCE OF RECORDS) AMENDMENT RULES, 2023
The Prevention of Money Laundering Act, 2002 (PMLA) is a crucial legislation in India aimed at preventing money laundering and terrorist financing. The PMLA mandates financial institutions, banking companies, and intermediaries to maintain records of their client’s transactions and conduct due diligence to prevent money laundering. On 7th March 2023, the Ministry of Finance, Department …
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THE ETHICAL IMPLICATIONS OF AI IN THE INDIAN LEGAL SYSTEM: ACCOUNTABILITY AND TRANSPARENCY
While Artificial intelligence (“AI”) has the potential to dramatically transform numerous aspects of Indian society, ranging from healthcare, education, and law enforcement to transportation and agriculture, there are numerous ethical challenges and implications that its use throws up, which need to be carefully considered and addressed. AI uses algorithms to execute jobs that would normally …
Wills in India- Essential Elements and Legal Requirements
“Will” refers to a legal document or declaration that a person during his lifetime makes in order to plan the distribution of his assets and properties in a way he wants. Writing a will as an instrument enables the heirs and survivors of the deceased to inherit the property in the way the deceased wanted. …
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Business setup in Special Economic Zones (SEZ) in India
A Special Economic Zone (SEZ) refers to an allocated and demarcated geographical area wherein the government has taken steps to liberalize the mercantile, business, and trade laws in order to encourage business activity and separate it from different parts of the country.