To read the article on Mondaq, click here. “Artificial intelligence is growing up fast, as are robots whose facial expressions can elicit empathy and make your mirror neurons quiver.” – Diane Ackerman Artificial intelligence (AI) has a long history that can be traced back to the eighth century BCE when Hephaestus created “attendants made of gold, which seemed like living maidens,” as depicted in Homer’s Iliad. The term “artificial intelligence” itself, however, was not coined until the 1950s, when John McCarthy defined it in 1955. AI systems use algorithms to process input data to predict outcomes, solve problems, and initiate actions.

To read the article on Mondaq, click here. The Clause for Early Completion Bonus (‘Bonus’) is provided in works contracts with the intention to reduce the time taken for completion that would normally be required. This is done by incentivising the contractor with a right to claim a certain percentage of the contract price as a bonus in case the actual completion date precedes the scheduled completion date. The contract may provide for such Bonus on early completion of a milestone, substantial work, or the complete project itself before the scheduled completion date. The advantage of inserting such a provision

To read the article on Mondaq, click here. After SEBI’s quarterly board meeting, held on September 30, 2024, the regulator has, strengthened its anti-insider trading rules i.e. the SEBI (Prohibition of Insider Trading) Regulations, 20151 (the “PIT Regulations“), by broadening the definitions of ‘connected persons’ and ‘immediate relatives’. The PIT Regulations, which came into effect in May, 2015, were designed to level the playing field for all investors by preventing insider trading activities. However, lately, there has been growing cases of individuals & entities exploiting their access to UPSI to gain an unfair advantage in the securities market. Presently, under the

To read the article on Mondaq, click here. The story of the Tower of Babel inspires the present-day infrastructure industry in many ways. Where the biblical literature specifies that in order to deter the people from constructing a tower to heaven, God apparently caused confusion with respect to the languages of all the workers, thus rendering it impossible for them to understand one another, the ancient literature on the Tower of Babel offers an example into the modern-day project management failures on various levels. For Kenya, however, the construction of the Bunge Tower reprised the incident of the Tower of

To read the article on Mondaq, click here. In the realm of commerce and industry, a trademark serves as much more than a mere identifier of goods or services; it is a symbol of the reputation, trust, and goodwill accrued by its proprietor. The significance of trademarks in maintaining a distinct identity within the marketplace has led to the establishment of stringent legal frameworks to safeguard these intellectual property rights. The dispute between InterGlobe Aviation Limited (operating under the brand name “Indigo”) and Mahindra Electric Automobile Limited (a subsidiary of Mahindra & Mahindra) over the use of the alphanumeric identifier

To read the article on Mondaq, click here. Stamp Duty Legislation and its Significance in State Revenue With an outgrowth in mergers and amalgamations happening across the Indian market, the State Government has been exercising its power to levy specific stamp duties on these transactions under the Indian Stamp Act, 1899. The Hon’ble Supreme Court of India has classified mergers, demergers, amalgamations, and other corporate transactions within the category of ‘conveyance’, defined under Section 2(10) of the Indian Stamp Act, 1899 and has provided that State Government may prescribe/levy specific stamp duty rates in different States based on market value