ArchiveOctober 2012

Rajat Gupta’s Sentencing Order

The order of the United States District Court, Southern District of New York, sentencing Rajat Gupta to 2 years’ imprisonment and US$ 5 million fine for insider trading is one that is carefully crafted and likely to be of significance in sentencing jurisprudence as far as securities law violations are concerned. The order, pronounced by Judge Rakoff is detailed and well-considered, given that the...

Paper on Shareholder Activism

Two years ago, any talk of shareholder activism in India would be brushed aside or even ridiculed. But, since then, things seem to have changed rapidly. The last couple of years have witnessed shareholders in Indian companies becoming more active and assertive. This space has also seen the proliferation of proxy advisory firms and other corporate governance intermediaries that have aided such...

World Bank’s Doing Business 2013

The World Bank and IFC have published the Doing Business report and country rankings for the year 2013. India still remains at 132 with no signs of overall changes, although its position has improved on some of the parameters, while it has fallen on several others. India’s country report is available here. As these newspaper reports also suggest (here and here), India’s ranking is below its...

Regulatory Reforms in the Capital Markets

SEBI has taken steps in the last few weeks to bring about reforms in the capital markets, particularly in the primary market segment. The first set of reforms essentially gives effect to decisions taken at SEBI’s board meeting on August 16, 2012. These include matters relating to both the equity markets, where the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009 have been...

IPR, Infringement and Remedies: Review of Ananth Padmanabhan’s book

A striking feature of Mr Ananth Padmanabhan’s recent book is the close attention it pays to concepts of intellectual property law. It is in the last decade or two that India has witnessed an explosion in intellectual property litigation; and it is generally the case that the shape of the law is formed by the answers the courts give, in the early years, to the conceptual questions that are at its...

Research Report: International Investment Law and the Vodafone Claim

[The following announcement comes to us from the Student Initiative to Promote Legal Awareness (SIPLA), at the National Law School, Bangalore] The Research Panel on International Investment Law and Policy, under the aegis of the Student Initiative to Promote Legal Awareness, at the National Law School, Bangalore has recently concluded a study of possible claims in an investment arbitration...

How final are Consent Orders? Can further action be taken even for settled matters?

SEBI’s Order in case of Arun Jain debarring him for 2 years for insider trading is a little disturbing. It questions the perceived sanctity and finality of consent orders and whether settlement by consent settles all actions possible for a particular act or omission. Or whether, even after settlement and payment of settlement amount, SEBI may yet take action under another set of provisions...

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