AKM 60
Start-ups: Bye Angel (tax)
UAE 2031: Going Green
Free speech: How much is too much?
Consumer: Don’t be in the ‘dark’
Parents to children: (gift) rap
EU’s AI Law
A humble beginning. A calling in Law. Consistent integrity, commitment and professionalism leading to six decades of unparalleled standing in the legal fraternity. In the process creating a brand – ‘A.K Mylsamy’ or ‘AKM’ as he is reverently called by one and all.
An octogenarian lawyer, AKM has been a sincere learner and seeker of Justice. Seasoned, veteran, distinguished, most of all sprightly. For he still approaches law and life with zest.
60 years of practice at the Bar is no mean achievement. Years of hard work, upgrading knowledge, moving with the times and remaining steadfast in ethics and integrity, honest and pure to the dynamic legal profession.
It was a spectacular event with heartfelt felicitation by his near and dear ones personally and professionally celebrating the completion of 60 years of practice.
AKM is a silent achiever. Never the one to be in the limelight, the recognition of his 60 years of legal practice was a well-deserved tribute by his family and colleagues for his contribution to law. A legacy to carry forward.
A highlight of the event was the launch of Mr. Mylsamy’s biography, an inspiring account of his unwavering dedication, perseverance, and unparalleled contributions to the field of law. This book stands as a tribute to his remarkable journey and serves as an inspiration to legal professionals and aspiring lawyers alike.
Mr. G. Viswanathan
Founder- Chancellor of VIT group of Institutions
Talked of his association of more than 65 years with AKM. Wishing AKM the very best, he stated that advocates played a role in strengthening democracy. They never retire and fight cases with courage.
Mr. P.S. Raman
Advocate General of Tamil Nadu
Fondly recollected his childhood memories of seeing AKM and his colleagues at legal legend Mr. T. Raghavan’s home. He said that 6 decades of legal practice is a tremendous achievement and one must maintain mental and physical health and have the drive to practice as law is a profession with no closing chapters. He was inspired by AKM’s growth from humble agrarian background to one of Chennai’s top Corporate Law firm.
Mr. P Chidambaram
Member of Parliament – Rajya Sabha and Senior Advocate
Congratulated AKM on an illustrious career. He stated that Law is a coveted and competitive profession. It was not regular to come across first generation lawyers (like AKM). He further urged veteran like AKM to involve themselves in strategic legal developments such as simplification of the Income Tax Act. It was important to ‘root and branch’ attack on legal system to weed out unnecessary laws or people and ensure Law, Justice and virtue remained.
Mr. Justice MM Sundresh
Judge of the Hon’ble Supreme Court
Mr. Justice MM Sundresh, reiterated a lawyer’s duty towards his client, opponent and the Court. While congratulating AKM on his achievement, he stated that law is a pure profession and is difficult to sustain for 60 years. Especially acknowledging the role played by Mrs. Vyjayanthi, AKM’s wife, he wished the best for AKM and family to continue his legal journey.
Ms. Sahana
Granddaughter of AKM, Aspiring Lawyer
It was a moment of pride and joy for AKM to be felicitated by his granddaughter Sahana, an aspiring lawyer herself. In a touching audio-visual tribute, she articulated her feeling to her ‘favorite person in the world’.
Ms. Subathra Mylsamy
Partner at AK Mylsamy and Associates LLP
Ms. Subathra Mylsamy, in her heartfelt address, spoke not only of Mr. A.K. Mylsamy’s extraordinary legal career but also of the values he upheld as a father. She described how, as a lawyer, he built his legacy with relentless dedication, integrity, and an unwavering commitment to justice, inspiring countless legal minds along the way. She reflected on how his presence was a guiding force both in the courtroom and at home, where his wisdom, patience, and boundless encouragement shaped those around him. His ability to balance the demands of a rigorous legal career while being a pillar of support for his family was a testament to his character. She closed by expressing her deep admiration and gratitude, not just for the accomplished lawyer he is but for the compassionate and principled father he has always been.
The abolition of angel tax is touted to be a game changer for start-ups to thrive without regulatory and compliance hassle.
UAEs Green IP initiative aims at protecting and fostering environmentally friendly technologies
Freedom of speech is not absolute and is subject to reasonable restrictions as contained in the Constitution of India.
Consumers are increasingly falling prey to ‘Dark patterns’ of advertising. The Ministry has brought out guidelines to address the same.
The latest set of circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.
Circulars
9th January 2025
Circular No. IBBI/LIQ/80/2025- Extension of time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder.
10th January 2025
Circular No. IBBI/LIQ/81/2025- Mandatory Use of eBKray Auction Platform for Liquidation Processes.
Notifications
Nil
Circulars
6th January 2025
Circular No.: SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2025/1- Measure for ease of doing business -Settlement of Account of Clients who have not traded in the last 30 days.
7th January 2025
Circular No: SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2025/002-
Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) –Timelines
8th January 2025
Circular No: SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/003- Guidelines for Investment Advisers
8th January 2025
Circular No: SEBI/HO/MIRSD/ MIRSD-PoD-1/P/CIR/2025/004- Guidelines for Research Analysts
10th January 2025
Circular No: SEBI/HO/OIAE/OIAE_IAD-3/P/ON/2025- Revise and Revamp Nomination Facilities in the Indian Securities Market
17th January 2025
Circular No: SEBI/HO/IMD/IMD-PoD-2/P/CIR/2025/6- Disclosure of Risk adjusted Return- Information Ratio (IR) for Mutual Fund Schemes
17th January 2025
Circular No: SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2025/007- Timeline for Review of ESG Rating pursuant to occurrence of ‘Material Events’
28th January 2025
Circular No: SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2025/009- Format of Due Diligence Certificate to be given by the DTs
Master Circulars
Nil
Notification
6th January, 2025
Gazette Notification No- SEBI/LAD-NRO/GN/2025/223- Notification under Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 – Investment Adviser Certifications Examination
10th January 2025
Gazette Notification No- SEBI/LAD- NRO/GN/2025/224- Gazette Notification for renewal of recognition of AMC Repo Clearing Limited
Circulars
Nil
Notifications
6th January 2025
RBI/2024-25/91- Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025
7th January 2025
RBI/2024-25/126- Master Direction – Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions, 2025
16th January 2025
Notification No. FEMA 5(R)(5)/2025-RB- Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025
17th January 2025
RBI/2024-25/105- Prevention of financial frauds perpetrated using voice calls and SMS – Regulatory prescriptions and Institutional Safeguards
17th January 2025
RBI/2024-25/104- Coverage of customers under the nomination facility
20th January 2025
RBI/2024-25/106- Guidelines on Settlement of Dues of borrowers by ARCs
29th January 2025
RBI/2024-25/107- Private Placement of Non-Convertible Debentures (NCDs) with maturity period of more than one year by HFCs – Review of guidelines
30th January 2025
RBI/2024-25/108- Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007
Circulars
Nil
Notifications
6th January 2025
Scheme Containing The 5 Dec 2024 Terms and Conditions For The Empanelment of Chartered Accountants for The Office of The Official Liquidator, Attached To The High Court of Gujarat Effective From 05.12.2024.
6th January 2025
Application For Empanelment Of Chartered Accountants For The Office Of The Official Liquidator, High Court Of Gujarat
6th January 2025
e-auction notice in the matter of M/S Mitra Prakashan Ltd. (In Liquidation)
7th January 2025
In the matter of Empanelment of Chartered Accountant
22nd January 2025
In the matter of Gujarat Hi Tech Industries Ltd., (In Liqn.)
23rd January 2025
E-auction in the matter of Shree Shakti Mills Ltd. (In Liquidation)
30th January 2025
In the matter of M/s. Admas Multi Marketting Pvt Ltd (in liquidation)
30th January 2025
E-auction in the matter M/s Sushila Pulp & Paper Ltd. (in liquidation
31st January 2025
Advertisement of notice to creditors to prove their claim in respect of f MIs.Sree Kovil Chits Company Pvt. Ltd (In Liquidation)
31st January 2025
Advertisement as to declaration of dividend of M/s. Plethico Pharmaceuticals Ltd. (In-Liqn.)
Circulars
21st January 2025
Circular No. 01 of 2025 – Guidance for application of the Principal Purpose ·Test (PPT) under India’s Double Taxation Avoidance Agreements-reg.
Notifications
2nd January 2025
Notification No. 1/2025/F.No. 275/25/2023-IT(B)
2nd January 2025
Notification No. 2/2025/F.No. 275/110/2024-IT(B)
2nd January 2025
Notification No. 3/2025/F. No. 275/109/2024-IT(B)
3rd January 2025
Notification No. 4 /2025 F. No. 196/1/2023-ITA-I
3rd January 2025
Notification No. 5 /2025 F. No. 300196/37/2019-ITA-I
6th January 2025
Notification No. 6/2025/F. No. 275/108/2024-IT(B)
14th January 2025
Notification No. 07/2025/F. No. 203/20/2024/ITA-II
20th January 2025
Notification No. 8/2025/ F. No. 370153/01/2025-TPL
21st January 2025
Notification No. 9 /2025/ F.No.370142/18/2024-TPL
27th January 2025
Notification No. 10/2025/ F. No.370142/26/2024-TPL
27th January 2025
Notification No. 11/2025 F. No. 203/24/2024/ITA-II
30th January 2025
Notification No. 12/2025/F. No. 225/235/2024/ITA-II
28th January 2025
Circular No. 245/02/2025-GST- Clarifications regarding applicability of GST on certain services – reg
30th January 2025
Circular No. 46/03/2025-GST- Clarification on applicability of late fee for delay in furnishing of FORM GSTR-9C- reg
Notifications
10th January 2025
NOTIFICATION No. 01/2025 – CENTRAL TAX- Seeks to extend the due date for furnishing FORM GSTR-1 for the month of December, 2024 and the quarter of October to December, 2024, as the case may be
10th January 2025
NOTIFICATION No. 03/2025 – CENTRAL TAX- Seeks to extend the due date for furnishing FORM GSTR-5 for the month of December, 2024
10th January 2025
NOTIFICATION No. 04/2025 – CENTRAL TAX- Seeks to extend the due date for furnishing FORM GSTR-6 for the month of December, 2024
10th January 2025
NOTIFICATION NO. 05/2025–CENTRAL TAX- Seeks to extend the due date for furnishing FORM GSTR-7 for the month of December, 2024
10th January 2025
NOTIFICATION No. 06/2025 – CENTRAL TAX- Seeks to extend the due date for furnishing FORM GSTR-8 for the month of December, 2024
23rd January 2025
NOTIFICATION No. 07/2025 – Central Tax- Central Tax Notification to amend CGST Rules, Central Goods and Services Tax (Amendment) Rules, 2025
23rd January 2025
NOTIFICATION NO. 08/2025 – CENTRAL TAX- Central Tax Notification for waiver of the late fee
Circulars
1st January 2025
Circular No. 01/2025- Customs- Roll out of Automated Out of Charge for AEO T2 and T3 Clients
17th January 2025
Circular No. 02/2025- Customs- Sea Cargo Manifest and Transhipment Regulations.
29th January 2025
Circular No. 03/2025- Customs- Mandatory additional qualifiers in import/export declarations in respect of Synthetic or Reconstructed Diamonds.
Notifications
a. Tariff
16th January 2025
Notification No. 01/2025-Customs – Seeks to exempt imports by the inspection team of IAEA.
16th January 2025
Notification No. 02/2025-Customs- Seeks to amend Notification no. 19/2019- customs-
b. Non-Tariff
14th January 2025
NOTIFICATION No. 01/2025-Customs (N.T.)- Notification of ICD, Virochannagar, Ahmedabad, Gujarat u/s. 7(1)(aa) of the Customs Act 1962
15th January 2025
NOTIFICATION No 02/2025- Customs (N.T.)- Sea Cargo Manifest and Transhipment Regulations
15th January 2025
Notification No.03/2025-CUSTOMS (N.T.)- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.
31st January 2025
Notification No. 06/2025-CUSTOMS (N.T.)- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.
Circulars
Nil
Notifications
a. Tariff
Nil
b. Non-Tariff
23rd January 2025
Notification No. 01/2025-Central Excise (N.T.)- Re-assignment of central excise and service tax appeals filled on or after 01.07.2017
Recently, the Supreme Court provided vital clarification regarding provisions of Maintenance and Welfare of Senior Citizens Act of 2007.
Income Tax (First Amendment) Rules, 2025 specifically addresses tax computation for non-resident entities engaged in the operation of cruise ships in India with the objective of developing the Indian maritime industry.
The European Union has led the world by passing and implementing the first ever comprehensive law to tackle artificial intelligence (AI’s) and its impact.
In Switzerland, it takes two to tango, whether people or pigs!
Law: In Switzerland, it is illegal to own just one guinea pig. You must have at least two guinea pigs to keep them company. Guinea pigs are considered social animals, and they naturally live in groups. The law was enacted to protect their mental and emotional well-being. Guinea pigs can suffer from loneliness, stress, and depression if kept by themselves. “Sorry, you can’t have just one guinea pig. You need another.”
Though the battle within most challenging, it can be won over with consistent self -love and gratitude.
One does not have to be diagnosed with mental health issues to fight battles within. Humankind deals with ‘personal battles’ on a day-to-day basis. Internal struggles stem from a range of complex emotions – self-doubt, inferiority or superiority complex, high standards of expectation from oneself, reluctance to step out of comfort zone, being rigid, inflexible, overwhelmed, underwhelmed. It is natural for all individuals to experience one or the other feeling.
Dealing with insecurities, coping with grief, professional growth and personal dynamics is perhaps the biggest internal conflict. In today’s day and age, the world unabashedly exhibits curated lives / lifestyles, adding to the feeling of not having something that another has.
Internal battles can be mitigated by remaining grateful and staying mindful. Food, water, a roof over the head, livelihood -which were taken for granted as basics by many proved to be a luxury for so many others. The pandemic reminded us of being grateful.
Setting sustainable goals and being less critical of oneself is crucial in ensuring that the internal does not become a mental battle. The world does not need another natural or man-made disaster to remind us of that. Just like the battle is within, so is the choice to be better.