Sports and athletics is a very interesting topic which flashes in the news these days. It is very necessary to check the proper regulation and management of sports and the people related to it. Our team of experts assists the client in compliance with the laws pertaining to sports. The National Anti-Doping Agency(NADA) was established by the Government of India as an independent organization which had the responsibility to plan, coordinate, implement, monitor and advocate improvements in Doping Control. NADA has accepted the World Anti-Doping Code which mentions the need to co-operate with various other Anti-Doping organizations and promote further Anti-Doping research and investigation.
Apart from the above, Sports law also requires to abide by certain other rules so as to keep itself an arm’s length away from bidding and gambling issues. Apart from the basic application of penal provisions relating to fraud, money laundering, etc, there is one more legislation which indirectly regulates any payment in India. The Payment and Settlement Act of 2007 states that any payment system or clearinghouse with less than 51% of the equity held by an Indian Bank requires authorization to operate in India which will be regulated by the RBI. The RBI has the right to inspect, authorize and make policies regarding legitimate payments made between two parties.