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Business Standard
15-07-2025
- Business
- Business Standard
Companies affected in IPR cases can press criminal charges as 'victim': SC
The Supreme Court has held that a company can be called a 'victim'' under the Code of Criminal Procedure and it can file an appeal against an acquittal order in criminal cases, including violations of intellectual property rights (IPRs). This means that corporate entities affected by violations of such rights could pursue criminal proceedings as the victim. A Bench of Justice Ahsanuddin Amanullah and Justice Prashant Kumar Mishra was hearing a plea by Asian Paints, which had suffered losses due to the accused allegedly selling counterfeit paints. Asian Paints moved the apex court against the Rajasthan High Court judgment dismissing its appeal against the acquittal of Ram Babu, who was allegedly found selling counterfeit paints under the brand name 'Asian Paints'. The High Court had dismissed the appeal under the proviso to Section 372 CrPC, reasoning that an agent of Asian Paints and not the company was the 'complainant' and therefore the latter couldn't file an appeal against the acquittal. The Supreme Court, while disagreeing with this reasoning, questioned whether the appellant would fall under the definition of 'victim' in terms of Section 2(wa) read with the proviso to Section 372 of the CrPC, or whether Section 378 of the CrPC would prevail in the facts and circumstances of the present case. The proviso to Section 372 grants victims the right to appeal against acquittal of the accused, conviction for a lesser offence, and inadequate compensation. If the court orders insufficient compensation for the victim, the victim can appeal. The apex court Bench held it was clear that 'Section 2(wa) of the CrPC has thoughtfully accorded an expansive understanding to the term 'victim' and not a narrow and restrictive meaning'. 'In the present case, there cannot be any two opinions that ultimately, it is the Appellant who has suffered due to the counterfeit/fake products being sold/attempted to be sold as having been manufactured by the Appellant. The Appellant would suffer financial loss and reputational injury if such products would be bought by the public under the mistaken belief that the same belonged to the Appellant's brand,' the judgment said. Asian Paints, a manufacturer in the paints industry for over 73 years, had engaged IPR consultancy firm M/s Solution to track and take action against counterfeiters. During a market investigation in February 2016, the firm had found counterfeit products resembling Asian Paints' trademarks at the shop Ganpati Traders in Tunga, Rajasthan, owned by Ram Babu. After police inspection, 12 buckets of allegedly fake paint were seized. The trial court acquitted Ram Babu, after which Asian Paints challenged the order in the High Court. The High Court dismissed Asian Paints' appeal.
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Business Standard
25-06-2025
- Business
- Business Standard
Magnum to acquire 61.9% of Kwality Wall's India from Unilever Group
The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. has agreed to acquire 61.9 per cent of Kwality Wall's (India) (KWI) from the Unilever Group, Hindustan Unilever (HUL) said in a stock exchange filing. 'Magnum HoldCo has agreed to acquire all of the KWIL shares to be issued to the Unilever Group shareholders pursuant to the demerger, comprising 61.9 per cent of the issued and paid-up share capital of KWI,' the filing said. Completion of the acquisition is subject to the fulfilment of conditions outlined in the share purchase agreement. These include the successful demerger of KWI from Hindustan Unilever, the listing of KWI shares, and receipt of requisite statutory and other approvals. The filing also stated that Magnum HoldCo will be required to make an open offer to public shareholders of KWI for additional shares, in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 'Unilever PLC has been informed by The Magnum Ice Cream Company that, upon acquiring the India IPRs, The Magnum Ice Cream Company will ensure continued access to the India IPRs by HUL, and upon effectiveness of the demerger, by KWI, on substantially the same commercial terms as the existing licence arrangements, and until a date no earlier than 1 February 2028, subject to receipt of requisite regulatory approvals,' the filing added. In January, the board of directors of Hindustan Unilever approved the demerger of its ice cream business, KWI, into an independent listed entity. At the time, the company had also stated that under the scheme, one equity share of KWI would be allotted for every one equity share held in Hindustan Unilever. Upon demerger and listing, the entire shareholding of KWI will be held directly by HUL shareholders.
Time of India
11-06-2025
- Business
- Time of India
India and EU Close to Finalizing Historic Free Trade Deal Covering Goods, Services & Investments
India and the European Union are on the brink of sealing a historic Free Trade Agreement (FTA), with only a few issues left to resolve. Commerce Minister Piyush Goyal confirmed from Bern that negotiations are 'really very near' completion, emphasizing mutual respect and commitment to fast-tracking the deal. Resumed in 2022, the talks span 23 major chapters, including goods, services, investment, digital trade, IPRs, and sustainable development. External Affairs Minister S. Jaishankar supports concluding an 'ambitious and balanced' deal by the end of 2025. EU foreign policy chief Kaja Kallas called India and the EU 'natural partners' representing 25% of global GDP and population. In 2023–24, India-EU goods trade hit $137.4 billion, with services trade at $51.45 billion. The FTA is set to redefine global trade alignments, opening massive opportunities for collaboration, innovation, and strategic economic growth.#indiaeufta #piyushgoyal #indiaeu #tradenews #fta2025 #eupartnership #strategicdialogue #euindiarelations #globaltrade #jaishankar #toi #toibharat #bharat #breakingnews #indianews Read More
The Print
02-06-2025
- Business
- The Print
India-EU free trade agreement could be concluded before year end: Goyal
'We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA,' Goyal told reporters here. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. Paris, Jun 1 (PTI) Commerce and Industry Minister Piyush Goyal on Sunday said that negotiations for the proposed comprehensive free trade agreement (FTA) between India and the European Union (EU) are progressing at a rapid pace and the deal could be concluded before the year end. He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade. The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries. When asked about the expected timeline for conclusion of talks on the FTA, he said: 'We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end'. He said that there are not too many issues where both sides have divergence of opinions. 'We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story,' he said. However, the minister added that in any trading relationship, there are certain sensitive issues on both sides, 'which is what we have to resolve amicably'. Further, he said that India does not shy away from discussing issues pertaining to gender and sustainability in such trade pacts. 'We will off course have a comprehensive FTA covering all subjects of mutual interest… Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions,' Goyal said. Goyal will hold a bilateral meeting with EU Commissioner for Trade and Economic Security Marcos Sefcovic on June 2 on the agreement. There are discussions for an early harvest or an interim trade agreement between the two sides that could include issues like intellectual property rights (IPRs), government procurement, tariffs, and non-tariff barriers. Besides demanding significant duty cuts in automobiles and medical devices, the EU wants tax reduction in products like wines, spirits, meat, poultry and a strong intellectual property regime. Indian goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded successfully. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. PTI RR HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
02-06-2025
- Business
- News18
India-EU Free Trade Agreement Could Be Concluded Before Year End: Piyush Goyal
Piyush Goyal said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. Commerce and Industry Minister Piyush Goyal on Sunday said that negotiations for the proposed comprehensive free trade agreement (FTA) between India and the European Union (EU) are progressing at a rapid pace and the deal could be concluded before the year end. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. 'We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA," Goyal told reporters here. He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade. The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries. When asked about the expected timeline for conclusion of talks on the FTA, he said: 'We never had a deadlines for a FTA, but looking at the rapid progress that we (India and the EU) are making, my sense is that we could do it faster than the year end". He said that there are not too many issues where both sides have divergence of opinions. 'We have both complimentary economies. In most cases what is of offensive interest to India does not hurt the EU economy, likewise goods and services that Europe would like to provide to India only support our growth story," he said. However, the minister added that in any trading relationship, there are certain sensitive issues on both sides, 'which is what we have to resolve amicably". 'We will off course have a comprehensive FTA covering all subjects of mutual interest… Subject like gender, India bats on the front foot, and when it comes to subjects like sustainability, India is right at the fore front. India does not shy from any subject for discussions," Goyal said. Goyal will hold a bilateral meeting with EU Commissioner for Trade and Economic Security Marcos Sefcovic on June 2 on the agreement. There are discussions for an early harvest or an interim trade agreement between the two sides that could include issues like intellectual property rights (IPRs), government procurement, tariffs, and non-tariff barriers. Besides demanding significant duty cuts in automobiles and medical devices, the EU wants tax reduction in products like wines, spirits, meat, poultry and a strong intellectual property regime. Indian goods exports to the EU, such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery, can become more competitive if the pact is concluded successfully. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated! Location : Paris, France First Published:
