The Reserve Bank of India (RBI) prescribes stringent norms on external commercial borrowings (ECBs) as also the grant of security in favour of foreign lenders or suppliers who have extended ECBs to Indian borrowers. While clarity has been developing over the years, there has often been doubt regarding specific types of securities and guarantees to be granted. Now, the RBI has issued a circular...
Briefing on Related Party Transactions
The NSE Centre for Excellence in Corporate Governance has published its quarterly briefing on “Related Party Transactions”, which has been authored by Professor Vikramaditya Khanna. The executive summary is as follows: – Related Party Transactions (RPTs) are a topic of increasing interest around the world, especially as some of them have been associated with quite well known frauds. –...
Corporate and Financial Law Colloquium: Call for Papers
[The following announcement is posted on behalf of The Michigan – Jindal Centre for Global Corporate and Financial Law and Policy, Jindal Global Law School] Background Corporations form the backbone of a country’s economy and the status of its commercial laws determines the robustness of its economy. Corporations not only assist in improving the local economy, they also play a key role in raising...
Non-Signatories Bound By Arbitration Agreement
[The following post is contributed by Bhushan Shah at Mansukhlal Hiralal & Company, Mumbai] The Bombay High Court in a recent judgment of Rakesh S Kathotia and Anr vs Milton Global Limited and Ors applied the ‘group of companies doctrine’ upheld by the Apex Court in Cholro Controls India Private Limited v...
Academy on International Trade Law and Policy in New Delhi
The Centre for WTO Studies, in partnership with the World Trade Institute, Berne is launching the 2nd WTI – CWS Joint Academy on International Trade Law and Policy in New Delhi, from May 25 – June 19, 2015. Taught by distinguished academics and practitioners from India and abroad, the course will equip participants with theoretical and practical insights into various issues relating to...
Year-End Reforms from SEBI
We wish our readers a very happy 2015! The end of 2014 was marked by a flurry of announcements from SEBI, some of which are briefly discussed in this post. Re-Classification of Promoters as Public The concept of “promoters” is quite significant in the Indian context as it is relevant for various purposes. While the existing SEBI regulations define a “promoter”, the circumstances are not entirely...
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