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December 11, 2019
Published by Taurus Legal at December 11, 2019
Categories

Sheriff’s Poundage for Executing Orders of Arrest of Vessel by Bombay High Court

Meaning of Poundage

Poundage is nothing but a type of fee payable to the Sheriff of Mumbai. It is payable when a person is arrested or property is attached in a civil action, by the Sheriff of Mumbai. Poundage is payable both in cases of arrest/attachment before judgment, i.e. attachment pendente lite and in execution of decrees. In the High Court of Bombay the rate of poundage is 1% of the debt levied by execution including an attachment before judgment or Read More

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November 30, 2019
Published by Taurus Legal at November 30, 2019
Categories

On What Grounds Can the Court Lift the Embargo of Lis Pendens?

Introduction

In its literal sense ‘lis pendens’ means – ‘a pending legal action’. The principle of lis pendens in relation to immoveable property is embodied under Section 52 of the Transfer of Property Act, 1882 (“TOPA”). The object of the provision is to ensure that the rights of a party claiming any right, title or interest in an immoveable property is not affected during the pendency of any proceedings Read More

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November 13, 2019
Published by Taurus Legal at November 13, 2019
Categories

Beneficial Liquidation: Sale as a Going Concern

On 22nd October 2018, the Insolvency and Bankruptcy Board of India (“IBBI”) notified amendments to the IBBI (Liquidation Process) Regulations, 2016 (“Liquidation Process Regulations”)[1], substituting the then-existing Regulation 32 of the Liquidation Process Regulations. After the amendment, Reg. 32 stood amended as under:

“32.Manner of sale. – The liquidator may sell –
(a) an asset on a standalone basis;
(b) the assets in a slump sale;
(c) Read More

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Dispute Resolution
Taurus Legal prides itself of it’s rich experience in the field of commercial litigation. We are well known for our ability
to formulate and execute innovative and legally sound strategies on behalf of clients for resolution of complex domestic or multi-jurisdictional disputes. Our work includes:
Preparing a detailed and holistic strategy for resolution of the dispute and apprising clients of the various options available to them and the benefits and risks involved in each of them;
Drafting substantial as well as ancillary pleadings and notices;
Working with senior as well as mid-level counsel, who we engage based on the specific requirements of a given matter, if required;
Attending to the matters in various fora.
Apart from commercial disputes we also handle testamentary, family and matrimonial disputes. We also advise and represent clients in criminal matters.
Our Dispute Resolution team attends to matters in all courts and tribunals in India ranging from the Supreme Court and the High Courts to the National Company Law Tribunals, Debt Recovery Tribunal, Real Estate Regulatory Authority, Labour and Industrial Courts, Family Court Consumer Redressal Forum, City Civil Courts, Sessions Courts and Magistrates.
We have a dedicated team who attend to matters before the NCLT and arbitration tribunals including arbitrations before regulatory authorities such as the NSE and BSE.
The firm also takes a hands-on approach to broker a settlement between parties

Naresh H. Chheda is Solicitor of the Bombay Incorporated Law Society having over ten years of experience in handling Commercial and Civil Litigation matters as well matters relating to real estate laws, pharma laws, and corporate laws.
Umang P. Mehta has done LL.M. in Intellectual Property Rights from Brunell University in London and has over five years experience in Commercial as well as Quasi-Criminal Litigation matters and real estate transactions.
Vikrant D. Shetty specializes in Maritime Law, General Commercial Litigation and Conveyancing and has advised and represented clients in infrastructure, shipping and commodities sectors. He was also a part-time professor at the Government Law College, Mumbai .

Insolvency & Bankruptcy
Since the Insolvency & Bankruptcy Code’s coming into force, approaching the National Company Law Tribunals is considered primary option for lenders having claims against financially unsound corporate entities. It has been reported that up to May 2019 an estimate of Rupees 70,000 Crore worth of bad loans have been recovered under the Code.
Our Partners have been practicing before the National Company Law Tribunal since its inception and thereby having requisite expertise to deal with matters filed under the Code.
In addition to filing Company Petition for initiating a Corporate Insolvency Resolution Process for Financial Creditors Operational Creditors, Taurus Legal is also empanelled with several Resolution Professionals and Liquidators. We are familiar with the challenges faced during the CIRP, and are attuned to the various precautions that IRPs/RPs and liquidators ought to take. Additionally, we also attend the CoC meetings to advise on any queries that may be raised by financial creditors.
We also represent and advice Corporate Debtor’s facing false threats of being declared insolvent.

Shipping and Commodities
We have appeared in several matters relating to ship arrest and release for multinational corporations and Indian companied. We specialize in all types of wet and dry shipping disputes including disputes arising from charter party contracts, ship sales, collision and sinking, employment and crewing, maritime pollution, ship building agreements, cargo claims, sip mortgage enforcement, marine insurance, etc. and handle civil as well as criminal litigation in respect of the same.
Taurus Legal also advises on, structure and draft ship sale, ship finance and mortgage, charterparty agreements and ship building contracts. We also assist with coal and iron ore transactions and provide a full range of legal services in respect of all aspects of international trade including the finance, storage, transportation and insurance of commodities.

Real Estate and Conveyancing
Our Firm provides full range of legal services, including structuring, drafting and advising in respect to Development and Re-Development Projects for Housing Societies as well as Developers, right from the stage of initial negotiations till closure of the project.
We regularly advise clients on acquisition, disposition, development, leasing, construction and financing projects as well as foreign investment in property in India. We also regularly conduct title searches and prepare and issue title certificates.
Taurus Legal is also empanelled by several construction companies.

Labour and Employment
Our Firm provides advice on all employment-related aspects. We also review company policies and employee handbooks to check compliance with applicable laws and advise on legal issues relating to employee termination.
We also advise on compliance with the laws relating to sexual harassment at the work place as well as resolution of complaints arising from the same.
Our Dispute Resolution team advises and represents clients in labour and employment-related litigation before labour and industrial courts, and also the various High Courts and the Supreme Court of India.

Intellectual Property, Media and Entertainment
We advise clients in all fields ranging from food, clothing, commodities, and other retailers, to international importers and wholesalers in weights and measures related compliance.
We regularly review client’s packaging , labelling, unit pricing, standard of measurements used and weighing devices employed to ensure that no laws are violated.
Our Dispute Resolution team handles cases often involving allegations of over-pricing, under-weighing, false advertising and unfair packaging.
Taurus Legal also advises on matters pertaining to Drugs, Medical Devices and Cosmetics and handles regulatory compliance and disputes relating to the same.

General Corporate
We are regularly engaged in drafting of franchise agreements, partnership agreements, business transfer contracts, shareholder and share subscription agreements, supply and distribution contracts, joint venture agreements, employee contracts, etc.
Our team of young and energetic lawyers is well-versed with issues faced in the e-commerce space and we advise start ups and small businesses in structuring their businesses and setting up their e-commerce platforms in manner that ensures smooth functioning and compliance with applicable laws.
We represent several clients in the food, hospitality, travel, gaming and education sector.

Estate Planning
Taurus Legal provides families, high net-worth individuals and entrepreneurs succession planning solutions. Our work includes structuring and preparing all documents in relation to creation of charitable/private trusts, Wills and codicils. While advising clients we ensure that we provide the most hassle-free, cost effective and tax-saving solutions. Our real state team also drafts conveyances and gifts of all types of movable and immoveable properties.
We also advise on family settlements and play an active role in mediating disputes between family members.
Our Dispute Resolution team also files petitions for probate, letters of administration, succession certificates, heirship certificates and files partition/administration suits as well.
We are known for our specialization in Digital Estate Planning and advise and assist clients in protecting their personal and business-related virtual assets such as virtual currency and documents, photos, videos and financial data stored online in digital form. In 2014, McAfee released a survey report which found that the average Indian internet user stores unprotected “digital assets” worth over USD 41,589 (approx. INR 26 Lakhs). It is safe to assume that, with the rising trend in storing data in digital format and the increased use of online accounts, the value of the average citizen’s digital assets has certainly increased since then

Legal Metrology, Product Compliance Drugs and Cosmetics
We advise clients in all fields ranging from food, clothing, commodities, and other retailers, to international importers and wholesalers in weights and measures related compliance.

We regularly review client’s packaging , labelling, unit pricing, standard of measurements used and weighing devices employed to ensure that no laws are violated.

Our Dispute Resolution team handles cases often involving allegations of over-pricing, under-weighing, false advertising and unfair packaging.
Taurus Legal also advises on matters pertaining to Drugs, Medical Devices and Cosmetics and handles regulatory compliance and disputes relating to the same.