EquiCorp Associates

Private Security Agency business is one of the most sought and rapid growing business in India with huge demand and potential. Due to ever evolving demand for private security by industry & business segments, the Private Security Agency business is growing for more than 20% and there is still huge untapped market still wide open for the future ventures. Today in any and every aspect, private security has an important role to play, whether its transfer of cash to ATM, transportation of valuables or protection to key members of business conglomerates. Any Private Security Agency cannot commence its business and operations in India without procurement of license under Private Security Agencies (Regulation) Act, 2005 also known as PSARA License . PSARA License is obtained state wise & is valid for 5 years and had to be renewed after every 5 years. The government fees for PSARA License is as following: 1.        For one (1) District- Rs. 5,...

This article is a summary of the key legal developments in the last 12 months, covers some of the major legal changes brought in 2018. The changes are vast & therefore, we focus on some of the key changes, which broadly impact the corporates for their “ Way of Doing Business ” in India which dominated the headlines and we can expect 2019 to continue in the same way . It’s important for any business owner to be aware of the changes affecting their business & put in place suitable safeguards. Failing to be prepared is often costly in terms of money, resource & time. Sector Update Investment in India 1.     Single Master Form: On June 7, 2018, the Reserve Bank of India (the " RBI ") issued a circular RBI/2017-18/194 A.P. (DIR Series) Circular No. 30 (the " Circular "), introducing a single master form (the " SMF ") to integrate the existing reporting norms for various types of foreign invest...

With the submission of SriKrishna Committee report on data protection, the final countdown for India’s own Data Protection Regime has finally begun.   A detailed legal framework on data protection is to be implemented in the coming days. Purpose of Data Protection Bill 2018- To protect the autonomy of individuals in relation with their personal data, to specify where the flow and usage of personal data is appropriate, to create a relationship of trust between persons and entities processing their personal data, to specify the rights of individuals whose personal data are processed, to create a framework for implementing organizational and technical measures in processing personal data, to lay down norms for cross-border transfer of personal data, to ensure the accountability of entities processing personal data, to provide remedies for unauthorized and harmful processing, and to establish a Data Protection Authority for overseeing processing activities. The key Highlights ar...

The legislations governing several aspects of the employer-employee relationship are so complicated and ambiguous, that they yield in litigation rather than to provide clear way out. Moreover, the most important bone of contention w.r.t. protection of confidential information, non-disclosure and non-solicitation have not yet been addressed through legislation in India, thus warranting recourse to judicial interpretation and common law. In an attempt to protect their interests, trade secrets, confidential information, every employer execute employment agreement and impose post employment restrictive covenants pertaining to manner in which the employees are required to serve the notice period, comply with the exit formality, non-solicitation, non-compete and others before finally exit from the employer. However, to enforce post employment restrictive covenants had become a challenging task for the employers. In our this article- “ Post Employment Restrictive Covenants- How Much En...