António Campinos appointed as the new president of European Patent Office

European Patent Office: António Campinos was appointed as the president of European Patent Office (EPO) on 02-07-2018 succeeding Benoît Battistelli, for a term of five years. About EPO: European Patent office is one of the largest public service institutions in Europe. It has been headquartered in Munich. The aim of EPO is strengthening co-operation on patents in Europe. Through the EPO’s centralised patent granting procedure, inventors are able to obtain high-quality patent protection in up to 44 countries, covering a market of some 700 million people. The EPO is also the world’s leading authority in patent information and patent searching. [Press Release] European Patent Office Tweet The post António Campinos appointed as the new president of European Patent Office appeared first on SCC Blog.…
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No new vehicle to be sold without mandatory third party insurance cover: SC

Supreme Court: The Division Bench comprising of Madan B Lokur and Deepak Gupta JJ., ordered that no new vehicle would be sold without the mandatory third-party insurance cover. In the Supreme Court order, the essentials to be noted were that from September 1, all the new four and two wheeler vehicles would have to get 3 and 5 years premium respectively for third-party insurance. The recommendations of the Supreme Court appointed committee in regard to road safety were accepted by the bench in light of road safety as most vehicle owners don’t renew their cover after the first year, leaving accident victims vulnerable by depriving them of compensation. [Source: The Times of India] Tweet The post No new vehicle to be sold without mandatory third party insurance cover: SC appeared first on SCC Blog.…
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UGC Committee to regulate fee for medical courses in Deemed Universities

Pursuant to the order dated 26.04.2018 of Madras High Court in Writ Petitions Nos. 14232 and 17778 of 2017, University Grants Commission (UGC) has constituted a Committee consisting of Prof. R.C. Deka, Former Director, AIIMS, New Delhi (Chairman), Dr. O.P. Kalra, Vice-Chancellor Pt. B.D. Sharma University of Health Sciences Rohtak; Prof. (Ms.) Saroj Chooramani Gopal, Former VC, King George Medical University, Lucknow; Prof. Mahesh Verma Director, Maulana Azad Institute of Dental Sciences, New Delhi; Prof.  Dr. Ajay S. Chandanwale, Dean, Byramjee Jeejeebhoy Government Medical College & Sassoon General Hospitals, Pune; Shri S.K. Ray, Former Additional Secretary & Financial Advisor, MHRD and nominee of each of Ministry of Health & Family Welfare, Dental Council of India, Medical Council of India and Ministry of Human Resource Development to regulate the fees chargeable by self-financed Deemed to be Universities in Medical and Dental Courses. Ministry of Human Resource Development Tweet The post UGC Committee to regulate fee for medical courses in Deemed Universities appeared first on SCC Blog.…
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EIH ltd. & Anr. v. Aahana Realty Pvt. Ltd. & Ors

The suit was filed for infringement of trade mark, passing off, dilution and damages etc., against defendants’ use of the mark ‘THREE SIXTY WEST’ for their hotel-cum-residential project infringes the plaintiffs’ statutory rights in the marks ‘three sixty’ and ‘three sixty one’ and use by the defendants of ‘OBEROI’ in conjunction with ‘THREE SIXTY’ infringes the plaintiffs’ rights in the trade mark ‘OBEROI’. Rejecting the application under Order 7 Rule 10 of the CPC, 1908 the Court held that the plaintiffs herein have pleaded effect of the action of the defendants within the territorial jurisdiction of this Court and sale of the project at Delhi through third party websites. All the said pleas in the plaint if proved, would confer territorial jurisdiction on this Court and the plaintiffs cannot be ousted treating the averments in the plaint to be false. The Court further held that though there can be no estoppel against statute and no conferment of jurisdiction by consent but it cannot also be lost sight of that CS(OS) No.892/2005 was filed by the plaintiffs against the defendants, who then also were carrying on business at Mumbai, restraining them from carrying on the said business of real estate, construction, hotels, spas and/or any cognate or allied business under the name and style ‘OBEROI’, ‘OBEROI SPAS’ and ‘OBEROI GROUP.’ The plaintiffs in the plaint in the suit aforesaid also, invoked the jurisdiction of this Court on the basis of the plaintiffs carrying on business at Delhi and the cause of action having accrued at Delhi owing to the defendants having advertised under the impugned mark in the ‘Times of India’ newspaper having circulation at Delhi.…
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Payments firm PhonePe buys Zopper Retail

Payments company PhonePe on Monday said it has bought the point-of-sale (PoS) business of Zopper, a hyperlocal mobile marketplace for small and medium-sized businesses. The acquisition, which is part of a broader strategy to ramp up its offline business, comes months after PhonePe launched its own point-of-sale device for small merchants. As part of the deal, Zopper founder and chief executive officer Neeraj Jain will join PhonePe, heading its offline merchants business. Zopper Retail, which is the PoS arm of Zopper, currently counts several million small and medium-sized businesses as customers on its platform. “Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. Zopper Retail is specifically designed to meet the needs of millions of small retailers in India, and their strategy ties in very well with our overall vision of making digital payments universally accepted across the country,” said Sameer Nigam, co-founder and CEO, PhonePe Internet Pvt. Ltd, now owned by Flipkart. The terms of the deal were not disclosed. Zopper, which was founded by Surjendu Kuila and Jain, counts the likes of Tiger Global Management, Nirvana Ventures Advisors and Blume Ventures as investors. Over the past 6-12 months, PhonePe has been aggressively expanding its offline merchant network, as part of a broader goal of establishing itself as the pre-eminent digital payments brand across the country.…
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Aurobindo acquires Apotex Inc’s biz in 5 European countries for 74 mn euros

Hyderabad’s Aurobindo Pharma has signed a definitive agreement to acquire Canadian pharmaceuticals company Apotex International Inc’s commercial operations and certain supporting infrastructure in five European countries for €74 million (Rs 5.93 bn) in an all-cash deal. The acquisition will extend and diversify Aurobindo’s European product portfolio by adding over 200 generics and more than 80 over-the-counter products that had total sales of 133 million euros in the year ending March 2018. Aurobindo clocked a sales of €577 million in Europe last fiscal. The Hyderabad-based company, in fact, led the pack amongst Indian pharma majors with a 33 per cent year-on-year rise in sales in EU market last financial year. V Muralidharan, senior vice-president of European operations for Aurobindo, said, “This acquisition is a key step towards our goal of becoming one of the leading generics companies in Europe.” Although some of these businesses are currently loss-making, Aurobindo “expects them to return to profitability when combined with its vertically integrated platform and existing commercial infrastructure”. Aurobindo’s step-down subsidiary, Agile Pharma B V (Netherlands) has signed a definitive agreement with Canadian pharmaceuticals company Apotex International Inc. The company expects to close the deal in three-six months. The acquisition includes a portfolio of over 200 prescription drugs and 88 OTC products and an additional pipeline of over 20 products, which are expected to be launched over the next two years.…
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SC Collegium reiterates Justice K M Joseph’s elevation as apex court judge

The Supreme Court Collegium Friday reiterated the name of Uttarakhand Chief Justice K M Joseph for appointment as apex court judge. It also recommended Madras High Court Chief Justice Indira Banerjee and Odisha High Court Chief Justice Vineet Saran as Supreme Court judges. The Supreme Court’s decision to reiterate Justice K M Joseph’s name for elevation comes in the background of the controversy over the government asking the Collegium to reconsider its recommendation to elevate him to the apex court. A reiteration by the Collegium would make it incumbent upon the government to issue a warrant for the appointment of Justice Joseph to the Supreme Court. The same Collegium under Chief Justice of India Dipak Misra had unanimously recommended Justice K M Joseph’s name in January, stating that he “is more deserving and suitable in all respects than other Chief Justices and senior puisne Judges of High Courts for being appointed as Judges of the Supreme Court of India”. Earlier this month, Union Minister Ravi Shankar Prasad said the Centre was within its rights to “seek a reconsideration” of a name recommended by the Supreme Court collegium for appointment as judge and to give its inputs, adding that it was not right to say that the government was committing a “cardinal sin” by giving its views.…
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LIC board approves acquiring 51% stake in IDBI Bank through preferential share allotment

Life Insurance Corporation of India board on Monday gave its approval to buy 51 per cent stake in debt-ridden public sector lender IDBI Bank Ltd. Department of Economic Affairs Secretary Subhash Chandra Garg, who was also a part of the LIC board representing government, told media persons that the since the bank needs funds, the LIC would choose preferential share route to increase its stake. Experts say LIC could get at least four seats in the IDBI Bank board. Currently, the government holds 81 per cent stake in IDBI Bank. Garg also said that since the combined shareholding of both the government and LIC would be over 90 per cent, and that public shareholding is too low, an open offer might not be on the cards. He, however, clarified that LIC could make an open offer if needed. The deal would now have to be approved by both the Cabinet as well as the IDBI Bank board. Experts say there might not be an open offer, and acquisition, as Garg said, would happen by issuing preferential shares. According to the takeover plan approved by the Insurance Regulatory and Development Authority (IRDA), the state-owned insurance company would not have any management control over the state-owned bank.…
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Singapore’s Symple Wellness Platform Acquires Pune-based AllizHealth, Rebrands to ‘Vivant’

Singapore based Health Tech startup Symple Wellness Platform (“SWP”), has acquired Pune-based AllizHealth (“AIH”), a wellness & health analytics platform for an undisclosed sum. AIH will be rebranded to “Vivant”, SWP’s operating brand. The acquisition dramatically speeds up Vivant’s expansion into the India market and brings with it a robust technology architecture, a strong operating team of almost 40 people across various functions, and close to 750,000 end customers. Three AIH Co-Founders will continue with Vivant: Chinmoy Mishra as Chief Business Development Officer, Dr. Rasmi Mishra as Chief Product Innovation Officer & Gaurav Vij as Chief Technology Officer. The combined platform will provide a comprehensive digital health offering with over 6,500 partners with strengths across the care spectrum to empower individuals to engage with their health to get healthy, stay healthy or manage disease. The platform will also deliver solutions emphasising maternal health, menstrual health, diabetes, orthopaedics, cardiovascular, child nutrition and elder care. Customers will also have access to Vivant’s Advisory Board, which includes internationally and nationally recognized experts across key fields that impact individual and community wellbeing. Anupa Naik, CEO of Vivant, said, “This acquisition brings with it an outstanding team and technology capabilities that will strengthen our ability to help customers engage with their health meaningfully and productively.…
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Centre Rejects Collegium Recommendation On Delhi High Court Chief Justice

The government has turned down a recommendation of the Supreme Court collegium to appoint Aniruddha Bose, a judge of the Calcutta High Court, as the chief justice of the Delhi High Court. After keeping the file pending for over five months, the government told the collegium to reconsider its decision. The government said that Justice Bose, who has been a judge since 2004, doesn’t have any experience as a chief justice to handle such a prominent high court. The government wants the collegium to recommend another name in place of the 59-year-old Justice Bose for the Delhi High Court, which has been without a full-time chief justice for more than a year now. The government had recently stalled the elevation of Uttarakhand High Court Chief Justice KM Joseph to the Supreme Court citing seniority and regional representation. (Credit: NDTV)…
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Amazon Pay Receives $33.5 Mn Funding Boost From Its Parent Entity

Amazon has invested $33.5 Mn (INR 230 Cr) in its digital payments arm Amazon Pay. The funds came from Singapore-based Amazon Corporate Holdings and Amazon.com.incs, as per RoC filings. The latest fundraise comes just three months after an infusion of $30 Mn in March 2018. At that time, Amazon Pay India head Mahendra Nerurkar had said that the company would continue to invest aggressively in its digital payments arm over the next several months. With the latest funding, Amazon is looking to increase traction on Amazon Pay with cashback offers for shopping on its site. During Prime Day sale, which kicked off on July 16, Amazon is offering cashbacks of INR 300. Also, on eve of its fifth anniversary last month, it offered INR 250 cash back to customers. This shows the aggressiveness with which Amazon is aiming to penetrate the Indian market while competing with local digital payment biggies like Flipkart’s PhonePe and Paytm. Amazon is also looking to push Amazon Pay beyond its platform to third-party online merchants as well as to offline touchpoints. (Credit: Inc42)…
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Johnson & Johnson to pay damages to claimant’s who developed ‘ovarian cancer’ due to their product

Johnson & Johnson has been asked to pay nearly $4.7bn as damages to 22 women who claimed that ‘Johnson’s baby powder’ was the reason for the development of ovarian cancer in them. The trial to claim punitive and compensatory damages of $4.14bn and $550m in the said case was held at a Court in St. Louis. Medical experts testified that asbestos a known carcinogen was mixed with the talcum powder and is the primary ingredient in the said talcum powder. So far about 9,000 women have claimed damages from the company as they stated that the talcum powder had contributed to their ‘ovarian cancer’. The company said that it intended to appeal as they were disappointed with the Court’s verdict. [Source: The Guardian] Tweet The post Johnson & Johnson to pay damages to claimant’s who developed ‘ovarian cancer’ due to their product appeared first on SCC Blog.…
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