ArchiveFebruary 2015

The Bombay High Court on Implied Exclusion

The Bombay High Court has recently given an important judgment in Harkirat Singh v Rabobank. It has revisited the law on the implied exclusion of Part I of the Indian Arbitration and Conciliation Act, 1996, which we have considered this on a number of occasions on this Blog. The point remains of great practical importance even though Bhatia International has been overruled because it is a live...

Budget 2015: Some Preliminary Thoughts

The Finance Minister today announced India’s Budget 2015-2016. The Budget documents, including his speech are available here. It is significant that this Budget comes during a period of upturn in the economy after a few preceding years of perceived gloom and doom, especially from the perspective of foreign investors. Other features attributable to the current macroeconomic environment include...

RBI’s New Diktat: Lending to a Subsidiary

[The following post is contributed by Nivedita Shankar, who is a Senior Associate at Vinod Kothari & Company. She can be contacted at nivedita@vinodkothari.com] The Reserve Bank of India (RBI) on January 7, 2015[1] has modified the Master Circular on Wilful Defaulters (Master Circular) with a view to usher in...

Committee to Suggest Monitoring Measures for CSR

Readers will recall the debates in the lead up to the Companies Act, 2013 as to whether the provisions relating to corporate social responsibility (CSR) ought to be mandatory or voluntary. Finally, a compromise position was arrived at that largely amounts to a “comply-or-explain” approach. Since the CSR provision (section 135) was brought into effect from April 1, 2014, its impact (particularly...

Report on Bankruptcy Law Reforms

The state of bankruptcy law in India continues to leave much to be desired, and adds to the difficulties in doing business in the country. Several previous efforts have been undertaken towards reforms, but they have either been introduced on a piecemeal basis or have not entirely been successful. With this in mind, the Government had last year appointed the Bankruptcy Law Reform Committee (BLRC)...

Truth in lending: Regulatory Measures in India

[The following guest post is contributed by Neha Somani of Vinod Kothari Consultants Pvt. Ltd. The author can be contacted at nehasomani@vinodkothari.com] Truth-in-lending laws, found in many countries world-over, ensure that lenders make a truthful disclosure of their rates of interest, and do not seek to attract...

Pricing of Options To Foreign Investors

The last few weeks have witnessed some activity from the Reserve Bank of India (RBI), which is indicative of a more liberalized approach towards the pricing at which foreign investors are able to sell their shares upon exercise of options (such as put options) made available to them under contractual documentation. Most of the indications came from the RBI in relation to a specific case involving...

The State of Shareholder Activism

The latest issue of the Economist carries two pieces (here and here) arguing about the importance of shareholder activism as a means to enhance the management and governance of companies. The magazine appears to extol the virtues of activism in the current economic environment, although some might dispute whether activist investors have had as much of a positive role to play in corporate...

The Liability of the Registrar of Companies for Negligent Entries

It was widely reported last week that Companies House in the UK had been ordered to pay damages of £8.8 million for making a spelling mistake. The case, of course rather more complex than that, is Sebry v Companies House and raised an important question of law: is the Registrar of Companies liable for loss caused by negligent entries made in the course of discharging his statutory obligations...

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

Topics

Recent Comments

Archives

web analytics