Tag: legal advice

MOONLIGHTING: LEGAL REPERCUSSIONS OF AN OPEN SECRET AND THE WAY FORWARD

The concept of moonlighting has become a major talk of the corporate town, and with the recent take of Mr. Sandip Patel, MD, IBM India, we get a hint of this trend gaining momentum amongst the peers in the tech industry. He dissuaded employees from siding with moonlighting if the interests of the company are at stake. He emphasized on following the due process, if at all, employees wish to take up side jobs but his internal note terms moonlighting as a violation of trust, policy and creates a potential conflict of interest. It is clear from his views that companies really have important concerns and are finding themselves at the cross-roads although there might be the necessary bending going on, on the inside to accommodate the interests of both the employers and the employees.

Unified Securities Code

In what can be termed an opportune moment for the capital market investors, the Finance Minister Nirmala Sitharaman recently proposed the merging of four laws that govern capital markets as well as Securities. These Acts include the Securities and Exchange Board of India Act, 1992 (“SEBI Act”), the Depositories Act, 1996 (“Depositories Act”), the Securities Contracts (Regulation) Act, 1956 (“SCRA”) and the Government Securities Act, 2007 (“GSA”). These laws have been aimed to be consolidated into a unified securities market Code.

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