Latest news with #VishalGehrana
Mint
01-07-2025
- Business
- Mint
Mint Explainer: Can you trademark a military operation? The law behind ‘Operation Sindoor' dispute
From 'Pulwama' to 'Covid-19', and now 'Operation Sindoor', India's trademark registry has repeatedly seen a rush of applications to commercialise national events, military operations or public crises—particularly by content producers and entertainment companies. A recent public interest litigation (PIL) before the Supreme Court has brought this trend into focus once again. The PIL challenges multiple trademark applications for the term 'Operation Sindoor', India's military response to a recent terror attack by Pakistan. Legal experts say this is just the latest example of 'moment trademarking"—a strategy where entities race to lock down topical or emotionally charged names for exclusive commercial use, even if they are linked to national identity or sensitive state functions. So, can military terms or national symbols really be trademarked in India? And what does the law say about this growing trend? Mint explains. What is 'moment trademarking'? Why is it a trend with content producers? According to legal experts, there has been a noticeable trend in India where private parties attempt to trademark terms associated with significant national events, military operations, or political campaigns, especially after these terms gain widespread public attention. Examples include trademark applications for terms such as 'Surgical Strike', 'Balakot', and political slogans like 'Acche Din' or 'Namo Again'. The primary motivation behind these filings is to secure exclusive commercial rights for use in entertainment, merchandise, or digital content. 'The applications for Operation Sindoor are a prime example of this type of questionable application trend, also commonly referred to as 'moment trademarking," said Ameet Datta, founder and managing counsel, ADP Law Offices. Also read: Diaspora disconnect: Bollywood's patriotic films fail to strike a chord overseas What does Indian law say about this? Trade Marks Act, 1999 provides strong safeguards against registering trademarks that offend public morality, mislead consumers, or hurt religious or national sentiments. Rule 10 of the Trade Marks Rules, 2017, read with Article 6ter of the Paris Convention (to which India is a signatory), also prohibits the registration of trademarks associated with state emblems, government operations, or military activities. "When multiple parties apply to trademark a term like 'Operation Sindoor', the Registrar will assess factors such as who first used the term in commerce, whether it's inherently distinctive or merely descriptive or generic, and whether it's closely tied to state identity or public sentiment," said Vishal Gehrana, partner designate at Karanjawala & Co. 'If the term is found to be misleading, generic, or inappropriate, the application can be rejected, regardless of filing order." Also read: SC ruling clears way for dual tax on broadcasters—consumers may pay the price Have such trademark filings been challenged or rejected before? Essenese Obhan, managing partner of Obhan & Associates, noted that several such trademarks—especially under Class 41, which pertains to entertainment services—have been applied for immediately after the associated events made headlines. Notable examples of such trademark attempts include Pulwama: Surgical Strike 2, Covid-19, and Article 370. In several cases—such as Covid-19, and names linked to national icons like Mahatma Gandhi and the Dandi Salt March—the applications were either quashed by courts or faced official objections. Following the Pulwama attack and the Balakot airstrikes in 2019, there was a spike in applications from Bollywood producers to register titles such as 'Balakot', 'Surgical Strikes 2.0', and 'Pulwama Attacks'. However, many of these were contested on grounds of lack of distinctiveness or concerns about hurting public or religious sentiments. That said, not all were rejected—makers of the political drama Article 370 received clearance to use the title. What's the status of the 'Operation Sindoor' applications? Reliance's Jio Studios filed a trademark under Class 41 for 'Operation Sindoor' but later withdrew it. Several other parties have applied, and the Trademark Registry is currently reviewing them. Meanwhile, the Supreme Court is hearing the PIL that could set an important precedent on the use of national military terms for commercial gain. Also read: 'Operation Sindoor' trademark applications filed in India, US, UK: What does it mean?
&w=3840&q=100)
Business Standard
06-06-2025
- Business
- Business Standard
Thinking of withdrawing your PF? A surprise 30% tax may hit you
Are you tempted to withdraw your Provident Fund (PF) savings after quitting your job? Doing that without completing five years of continuous service could dent your savings, with up to 30 per cent of the amount going in taxes. Legal experts and tax professionals say that hasty PF withdrawals defeat the purpose of long-term retirement savings and have hefty tax implications. 'Withdrawing your PF before five years of continuous service is treated as a taxable event,' said Vishal Gehrana, partner designate at Karanjawala & Co. and advocate-on-record at the Supreme Court. 'Not only is the entire amount taxable as per your slab, but if you haven't submitted your PAN, TDS (tax deducted at source) is deducted at 30 per cent.' What exactly gets taxed? Both employee and employer contributions, and the interest earned on them, become taxable income under Section 192A of the Income-tax Act, 1961. The Employees' Provident Fund Organisation (EPFO) deducts TDS if the withdrawal is more than Rs 50,000, said Gehrana. Kunal Savani, partner at Cyril Amarchand Mangaldas, said: 'The employer's share along with interest becomes taxable as profits in lieu of salary. While the employee's own contribution may be tax-free, interest on it could still be taxable, especially if thresholds are crossed.' Are there exceptions? Yes. Tax is not applicable if the withdrawal is due to ill health, business closure, or reasons beyond the employee's control. In such cases, the law provides relief. Also, once an individual completes five years of continuous service or withdraws PF after retirement, the entire amount is tax-exempt under Section 10(12) of the Income-tax Act. Mistakes to avoid Withdrawing PF instead of transferring it when switching jobs Not maintaining five years of cumulative service Failing to submit PAN, leading to higher TDS Assuming Form 15G/H always prevents TDS (they work only if income is below the taxable limit) Treat PF as long-term asset 'Instead of withdrawing PF early, transferring the account to the new employer preserves service continuity and tax benefits,' said Gehrana. He recommended maintaining documents to support your case in the event of a tax notice. A recent X post by tax professional Sujit Bangar summed it up aptly: 'Withdrawing PF after resigning job? If you've not completed 5 years, the entire amount is taxable. 30 per cent TDS. Don't act in a hurry.' Transfer your PF account when changing jobs to maintain service continuity and qualifying for tax-free withdrawals after five years. Avoid full withdrawals unless absolutely necessary. Instead, opt for partial advances allowed for medical, housing, or education needs, which are typically not taxable. Time your withdrawal in a financial year when your total income is below the taxable limit to reduce or eliminate tax burden. Submit Form 15G or 15H, if eligible, to avoid TDS on withdrawals below the tax threshold.
Time of India
22-05-2025
- Business
- Time of India
This bank has changed its name: Will its cheque book, passbook, card and IFSC code still work?
The Reserve Bank of India (RBI) issued a notification on May 21, 2025, announcing the change of the name for North East Small Finance Bank Limited to ' slice Small Finance Bank Limited ' in the Second Schedule of the Reserve Bank of India Act, 1934. "We're on a journey to build India's most loved bank. Our mission is to value people's time and money in the products we build so more people can experience banking that truly works for them. he bank will continue to operate under the brand name of slice, and we are in the process of informing all stakeholders, especially customers, about this change to ensure a smooth and seamless transition. We're now expanding nationwide, while keeping our Northeast roots central to who we are," says a spokesperson from slice. Private vs public bank locker charges 2025: Who is offering lockers at lowest rental? But what does this mean for customers? The name change raises several questions in the minds of account holders-whether they need to get new passbooks or cheque books, whether their debit cards will still work, or if IFSC codes will change. What happens to your current cheque book, passbooks? According to RBI guidelines , in the event of a name change by a bank, customers can continue using their current banking instruments , such as passbooks, debit cards, and cheque books, without any interruption-unless explicitly directed otherwise by the bank. Similarly, IFSC codes typically remain unchanged unless separately notified. The transition is expected to be gradual and fully guided, ensuring zero disruption to customer services. Live Events Post Office account death claim rules: How to claim money from post office after account holder's death with or without nomination Vishal Gehrana, Partner Designate at Karanjawala & Co. and Advocate-on-Record, Supreme Court of India, says, "A change in the name of a bank, such as from 'North East Small Finance Bank Limited' to 'Slice Small Finance Bank Limited', does not by itself require customers to immediately obtain new passbooks, cheque books, or debit cards. According to standard banking practice and RBI guidelines, all existing instruments that bear the old name remain valid and can be used as usual unless the bank specifically instructs customers otherwise." Kinjal Champaneria, Partner at Solomon & Co, says, "Consequent to the change in name of the bank, it is common for items, such as passbooks, cheque books, debit cards, and other banking materials, to be updated with the new name, logo, and branding. However, the bank will officially communicate to the customers regarding the issuance of new banking materials. Adhil Shetty, CEO of says, "Any time a bank is amalgamated into a new entity, the bank will reissue an updated passbook, cheque book, and, if needed, account numbers as well. This is a structured process that takes months, sometimes as much as a year." "Banks are required to inform their customers about the name change and any related procedural updates. If the bank decides to issue new materials with the updated name, it will typically do so over a transition period and provide clear instructions. Until then, customers can continue to use their current passbooks, cheque books, and debit cards without any legal or operational issues," says Gehrana. "The customers will be updated regularly and will be informed about the update. The bank will also provide customers with a certain period, usually six months, where they can continue to use their older passbook and cheque book even after the transition process is completed. So, customers have enough time to get used to the change and get new passbooks and other details," says Shetty. This transition may take some time, as the bank will need to manage the replacement process and logistics. Customers will be notified by the bank regarding when they can expect to receive their new passbook, cheque book, debit card, etc. For any clarification or assistance, it is advisable that customers reach out to their local branch or the bank's customer support. Unless otherwise notified by the bank, the existing passbooks, cheque books, and debit cards are likely to remain valid and fully functional for all banking transactions. In short, unless you receive direct communication from the bank asking you to replace your banking instruments, you do not need to take any action. The change in the name of the bank does not affect the validity of your existing documents. What happens to the current IFS codes of the bank? Gehrana says, "The IFSC (Indian Financial System Code) is a unique identifier for bank branches used in electronic payment systems like NEFT, RTGS, and IMPS. While the code often includes an abbreviation of the bank's name, a change in the bank's name does not automatically result in a change to the IFSC code. If the bank or RBI decides to update the IFSC codes to reflect the new name, this will be done in a phased and well-communicated manner. Customers will be notified in advance, and the transition will be managed to ensure that there is no disruption to banking services. During any such transition, payments made using the old IFSC code are typically redirected to the correct branch, and online banking systems are updated automatically. Therefore, customers do not need to worry about failed transactions or immediate changes to their banking details. Any change to the IFSC code will be clearly communicated, and sufficient time will be given to adapt." Kinjal Champaneria, Partner at Solomon & Co, says, "Regarding the IFSC code, it will change eventually. However, customers will be informed officially by the bank before any changes take effect. Until then, existing IFSC codes are likely to remain valid for all transactions."
