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Where to File for Execution of an Arbitral Award? SC settles the Debate

[Saarthak Jain is a 2nd year B.A., LL.B. (Hons.) student at National Law School of India University (NLSIU), Bangalore with a deep interest in arbitration and corporate law.] In Sundaram Finance Ltd. v. Abdul Samad, the Supreme Court this month settled the debate on the question as to whether an arbitral award is required to be filed for execution in the court having jurisdiction over the...

The Liquidation Value- ‘Erstwhile’ Benchmark for Prospective Investors

[Rohit Sharma is a Company Secretary in Kolkata, and can be reached at [email protected]] Introduction In accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 (‘Code’), the interim resolution professional was required to appoint two registered valuers for the valuation of the assets of the corporate debtor. The registered valuers were appointed for the valuation of...

Supreme Court’s Stand on Market Impact for Synchronised Trades

[Jitesh Maheshwari is an associate at Mindspright Legal and Rakshita Poddar is a lawyer based in Mumbai] Introduction The Supreme Court of India in its recent landmark judgement of SEBI v. Rakhi Trading Pvt. Ltd., delivered by Justice Kurian and Justice Banumathi, has overruled several orders of the Securities Appellate Tribunal which had held that synchronised trades are illegal only when they...

Implications of Granting Infrastructure Status to the Logistics Sector

[Harini Sutaria is a final year student at ILS Law College, Pune] Introduction In a bid to boost the logistics sector in the country, the Government has granted it an infrastructure status. This grant of status is a positive move by the Government and is an acknowledgement of the growing dependency of the success of other industries on logistics. A notification was issued by the Department of...

Why SEBI is Failing at Regulating Insider Trading in India

[Bhavya Bhandari is currently pursuing an LLM. in Corporation Law at NYU School of Law. She can be reached at [email protected] The Indian securities market regulator has been criticized in the last two decades for its failure to investigate and prosecute perpetrators of insider trading. Even when the perpetrators are caught and punished, the penalty is often so low that the regulations have lost...

Crossholding in Credit Rating Agencies: An Insight into the SEBI Consultation Paper

[Kashish Jain is a 4th year B.B.A L.L.B (Hons.) student at Jindal Global Law School in Sonipat, Haryana] A credit rating agency (CRA) is a service provider that assesses the creditworthiness of an entity (issuer) or a debt instrument (e.g., asset-backed securities). Typically, it expresses an opinion that is based on processing information and conducting research. CRAs seek to reduce the...

Market Dominance: The Inadequacy of Section 4 of the Competition Act, 2002

[Gokul Plaha is a 4th year B.A., LL.B. (Hons.) student at the National Law University, Delhi] Introduction Section 4 of the Competition Act, 2002 prohibits the abuse of a “dominant position” in the market but does not penalise “dominance” per se. This means that any firm or enterprise is well within its right to acquire a dominating  position in the market, even by way of indulging in anti...

Assignment of Debts under the Insolvency and Bankruptcy Code

[Aayush Mitruka is a lawyer based in Delhi] Synergies Dooray Automotive, the first corporate entity to be resolved under the new Insolvency and Bankruptcy Code (Code) posed a few very interesting questions and highlighted some grey areas in Code. In the present post I intend to discuss one important issue that came up in the context of assignment of debts. To put things in perspective, the Code...

Latecomers in Liquidation – Entitlements and Penalties

[Sikha Bansal is an Associate at Vinod Kothari & Company and can be reached at [email protected]] The Insolvency and Bankruptcy Code (the “Code”) provides for corporate insolvency resolution in respect of corporate debtors, and then liquidation where the insolvency proceedings fail. In case of liquidation of insolvent entities, the competing stakeholders stake their claims on...

Analysis of the Strike-Off Provisions under the Companies Act, 2013

[Utsav Mitra is a 3rd year B.A. L.L.B student from The National Law Institute University, Bhopal] Strike Off is a method prescribed under sections 248-252 of the Companies Act, 2013 (the “Act”). These provisions have been notified by the Ministry of Corporate Affairs by way of a notification dated 26 December 2016. They provide an opportunity for defunct companies to get their names removed from...

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