Turkey: Shareholders’ Borrowing from the Joint Stock Company and Vice Versa
According to Turkish Commercial Code (“TCC”), some companies are defined as equity companies. Joint stock companies are one of these equity companies and are within the scope of “Principle of Maintenance of Share Capital” under TCC. The principle of maintenance of share capital requires full payment of the share capital value committed by the shareholders …
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A Decision on Abuse of Dominance: The Turkish Competition Board’s Assessment on the Conflict of Law on Intellectual and Artistic Works Law and the Competition Law in the light of Data Portability Restrictions
The Turkish Competition Authority (“Authority”) has published its Nadirkitap decision[1] in which it evaluated the allegation as to whether Nadirkitap Bilişim ve Reklamcılık AŞ (“Nadirkitap”), a company providing mediation services in the online sale of the second-hand books through its website named www.nadirkitap.com, violated Article 4 of the Law No. 4054 on the Protection of …
Türkiye’s New Electronic Commerce Amendments: Compliance Steps to Follow
The Law No. 7416 on Amendment of the Law on Regulation of Electronic Commerce (“Amendment Law”), published in the Official Gazette of July 7, 2022[1], introduces new obligations for e-commerce intermediary service providers and e-commerce service providers. Most of the provisions of the Amendment Law will enter into force on January 1, 2023 but the …
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CSAM: Is It Time to Age Gate the Internet?
As digital platforms cater to an ever-increasing user base, service providers and regulators are increasingly cognizant of the addictive nature of the services online, and their delivery to the end users. Children are now the focal point of discussions attending practices, which has catapulted regulatory scrutiny and policy-making initiatives.
Recovery Certificate under Debt Recovery Act is not limited to winding up proceedings only but extends to IBC: Clarifies Supreme Court
Recently, the Hon’ble Supreme Court in the case of Kotak Mahinda Bank Limited vs A. Balakrishnan & another (Civil Appeal No.689 of 2021) has held that any liability arising out of a recovery certificate needs to be treated as financial debt within vis-à-vis clause (8) of Section 5 of the Insolvency and Bankruptcy Code, 2016[1] …
Arbitration: In a Nutshell
Definitions of Arbitration – The term ‘arbitration’ has been given different yet similar meanings such as:
Impact of COVID 19 on the Pharmaceutical Industry in India
In the pre-COVID-19 era, the Indian drugs and pharmaceutical industry held a third ranking worldwide for immense production by volume and fourteenth by value in 2019[1]. Subsequently, due to the COVID-19 pandemic, the affairs of the Indian pharmaceutical industry have benefitted from substantial changes in the regulatory regime as enumerated below.
Impacts of remote work on the Brazilian service tax
Unlike several countries around the world, which taxes goods and services in a unified way and according to the destination rule, in Brazil there is no tax equivalent to the Value Added Tax (VAT). There is still a fragmentation of the taxable base of consumption, that comprises five different taxes, levied by different entities (Municipalities, …
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Revamped Overseas Investment Rules: A Critical Insight
With an aim to improve the ‘ease of doing business’ and simplifying/ liberalising the investment regime, the Government of India in consultation with the Reserve Bank of India (“RBI”), amongst others, has been progressively revamping and liberalizing the foreign exchange regime in India. In view of the foregoing, the Government of India vide Notification No. …
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Intellectual Property for Social Media Influencers
88% of Hong Kong population is using social media, and this number is growing every minute. It is no surprise that social media has become a lucrative business. Social media influencers (“Influencers”) or key opinion leaders (“KOLs”) are popular and powerful – they create tight bonds with their followers and have the ability to influence their perceptions …
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