(The following post is contributed by Rahul Singh) The Competition Commission of India (the “CCI“) has on 11 May, 2011 notified the Competition Commission of India (Procedure in regard to the transaction of business relating to combination) Regulations, 2011 (No 3 of 2011) (“Combination Regulations“) under the Competition Act, 2002 (the Competition Act). Background...
Government Nod to FDI in LLPs
(The following post is contributed by Rohan Bagai) The Cabinet Committee on Economic Affairs (CCEA) recently approved foreign direct investment (FDI) in limited liability partnership (LLP) firms whilst setting out a few disclaimers in its press release dated May 11, 2011. This follows from a consultation process initiated last year pursuant to a discussion paper. As such, an LLP is a crossbreed...
The 2nd IJLT-CIS Lecture Series
(The following announcement is from the Indian Journal of Law and Technology) The Indian Journal of Law and Technology and the Centre for Internet and Society, present the 2nd IJLT- CIS Lecture Series, an event comprised of an intensive series of lectures by luminaries with expertise in law and technology to give students, professionals and anyone interested a comprehensive idea about the theme...
The Supreme Court Declines an Invitation to Extend Bhatia International
The cases we have discussed on implied exclusion of Part I of the Indian Arbitration Act are composed of three variants – first, the contract designates a foreign proper law but no seat of arbitration (for example Indtel Technical Services v WS Atkins and Citation Infowares v Equinox Corporation), secondly, the contract designates a foreign seat of arbitration but no proper law, and thirdly the...
Mutual Fund Scheme: Change in Fundamental Attributes
The Securities Appellate Tribunal (SAT) has ruled in a matter involving the HSBC Mutual Fund. In that case, HSBC had issued a scheme with two plans, viz. a long term plan and a short term plan. The relevant investors had invested in the short-term plan. However, HSBC wound up the long-term plan, and changed the term of the short-term plan by increasing the tenure. This resulted in a fall in the...
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