Data Privacy

Preventing Fraud in the Indian Startup Ecosystem

Preventing Fraud in the Indian Startup Ecosystem

How The Indian Startup Ecosystem Can Take Proactive Steps To Prevent Syphoning & Fraud? In recent years the Indian startup ecosystem has seen tremendous growth. Several companies have emerged as unicorns and industry leaders, backed by both Indian and international venture capital and private equity firms.  However, the ‘Blitzsclaling’ (termed by LinkedIn cofounder Reid Hofman) …

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European Union Artificial Intelligence Act

European Union Artificial Intelligence Act

Introduction Businesses are moving towards Artificial Intelligence  (“AI”)  enabled  services/product delivery. This move towards AI underscores the importance of regulating the field of AI development to ensure public interest and at the same time promote innovation within the space. Governments across the world are taking and (in some cases) have taken a proactive role in …

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draft national deep tech startup policy

Draft National Deep Tech Startup Policy

Introduction On July 31, 2023, National Deep Tech Startup Policy Consortium (“NDTSP Consortium”) chaired by the Principal Scientific Adviser to the Government of India, issued the Draft National Deep Tech Startup Policy (the “Draft Policy”) for public consultation. The Prime Minister’s Science, Technology, and Innovation Advisory Council, in its 21st meeting held on July 7, …

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Impact of Digital Personal Data Protection Act, 2023 on Transaction Documents

Impact of Digital Personal Data Protection Act, 2023 on Transaction Documents

Decoding The Impact Of Digital Personal Data Protection Act, 2023 On Transaction Documents After what seemed like an eternity, India has finally got its personal data privacy legislation in form of Digital Personal Data Protection Act, 2023 (“Act”). The Act is nothing short of a seismic shift in India’s approach to safeguarding personal data in …

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dpiit recognized start ups will not face angel tax scrutiny

DPIIT Recognized Start-Ups Will Not Face Angel Tax Scrutiny

DPIIT Recognized Start-Ups Will Not Face Angel Tax Scrutiny : Cbdt Clarifies Section 56(2)(viib) of the Income-tax Act, 1961 stipulates that where a company (other than a public listed company) receives consideration for shares which exceeds the fair market value (“FMV”) of the shares, the excess consideration would be chargeable to income tax, under the …

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Highlights of PMLA (Maintenance of Record) 3rd Amendment Rules, 2023 & Impact on VDASPs

Highlights of PMLA (Maintenance of Record) 3rd Amendment Rules, 2023 & Impact on VDASPs

Key Highlights Of Prevention Of Money Laundering (Maintenance Of Record) Third Amendment Rules, 2023 And The Impact On Vdasps The Ministry of Finance on October 17, 2023 notified the Prevention of Money Laundering (Maintenance of Record) Third Amendment Rules, 2023 (“Amendment”) to amend the  Money  Laundering  (Maintenance of  Record)  2005  (“PMLA  Rules”). Following are some …

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Breaking Down the Amendments to RBI’s Master Direction on KYC

Breaking Down the Amendments to RBI’s Master Direction on KYC

The Reserve Bank of India (RBI) through a circular dated October 17, 2023 amended the Master Direction on Know Your Customer (“Master Directions”) to impose stricter Customer Due Diligence (“CDD”) guidelines, instructing regulated entities (which, inter alia, includes NBFCs, scheduled commercial banks, payment system providers, prepaid payment instruments etc.) (“RE”) to adopt a risk-based approach …

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RBI Notifies Directions for Regulation of Payment Aggregators – Cross-Border

RBI Notifies Directions for Regulation of Payment Aggregators – Cross-Border

Delineating The Difference Between A Payment Aggregator – Cross Border And An Online Payment Gateway Service Provider On October 31, 2023, the Reserve Bank of India (RBI) through its circular Regulation of Payment Aggregator – Cross Border; (the Regulations), has brought all entities involved in facilitating cross-border payments for the import and export of goods …

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Investing in StartUps through non-fungible tokens

Data Privacy And Protection

At Burgeon Law we believe in taking a hands-on approach to dealing with ‘Data’, ‘Data Privacy’, ‘Data Protection’ and ‘Personally Identifiable Information’ which are the standard terms that one hear while dealing with IT and IT security these days. With the Information and Technology Act, 2000 coming into force and exponential increase in e-commerce and …

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Investing In Start-Ups Through Non-Fungible Tokens

Investing in start-ups through non-fungible tokens

Investing in startup companies has always been an exciting prospect for investors around the world. The rise of blockchain technology has unlocked new avenues for investors to participate in the growth of startups. Non-Fungible Tokens (NFTs), which are unique digital assets stored on a blockchain, have emerged as a potential tool for investing in startups. …

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