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Data privacy rules enacted in India

India - May 25 2011 On April 11, 2011, the Ministry of Communications and Information Technology (Department of Information Technology), Government of India ("IT Ministry"), issued the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 ("Data Privacy Rules").

Jai S. Pathak

Revised policy on downstream investment by foreign-owned Indian banking companies

India - August 13 2012 The Government of India ("Government") has revised its policy in relation to downstream investments by banking companies incorporated in India that are owned and/or controlled by non-residents or non-resident entities ("Revised FDI Policy").

Jai S. Pathak, Karthik A. Thiagarajan

The Securities and Exchange Board of India takes the view that put/call options and rights of first refusal are unenforceable

India - June 2 2011 In an unpublished letter dated March 18, 2011, the Securities and Exchange Board of India ("SEBI") has taken the view that put and call option arrangements and rights of first refusal are not enforceable in India.

Jai S. Pathak

Compulsory license granted by the Indian Patent Office

India - March 20 2012 In an unprecedented move, the Controller of Patents in India ("Controller") issued the first compulsory license under the Indian patent regime, since the Patent Act, 1970 ("Act") was amended in 2005 to permit product patents in India.

Jai S. Pathak, Karthik A. Thiagarajan

The Securities and Exchange Board of India once again takes the view that put/call options are unenforceable under Indian law

India - August 2 2011 In a letter dated May 23, 2011, the Securities and Exchange Board of India ("SEBI", and such letter, the "SEBI Letter") took the view that put/call options governing the shares of an Indian public listed company are unenforceable

Jai S. Pathak