ArchiveMarch 2015

Financial Sector Legislation, Anti-terror Laws, Human Rights and the Indian Constitution

We all now know that the Supreme Court outlawed Section 66-A of the Information Technology Act in a recent order.  I wrote about the court’s core findings in a column in the Mirror publications last Friday. I would have been remiss in not writing about the court’s rationale in the very same judgement, in refusing to strike down as unconstitutional, a different section of the...

SEBI Guidelines for International Finance Centres

[The following post is contributed by Yogesh Chande, who is an Associate Partner with Economic Laws Practice, Advocates & Solicitors. Views of the author are personal.] The report (2007) of the High Powered Expert Committee (HPEC) on ‘Mumbai: An International Financial Centre’ had in its report suggested the setting up of International Financial Centre in Mumbai. The Minister of Finance...

SEBI Amends Delisting, Takeovers and Buyback Regulations

[The following post is contributed by Yogesh Chande, who is an Associate Partner with Economic Laws Practice, Advocates & Solicitors. Views of the author are personal. SEBI has with effect from 24 March 2015 amended the following regulations: (a)    SEBI (Delisting of Equity Shares) Regulations, 2009 (“Delisting Regulations”); (b) SEBI (Substantial Acquisition of Shares...

SEBI’s Restraint Order: Impact on Joint Accounts

[The following post is contributed by Yogesh Chande, who is an Associate Partner with Economic Laws Practice, Advocates & Solicitors. Views of the author are personal. The author discusses a recent SEBI order regarding the scope of a restraint passed by it earlier on a noticee from dealing in securities. By now clarifying that joint accounts too are within the purview of the prohibition...

Role of the Regional Director in a Scheme of Arrangement

Mergers, demergers and other forms of corporate restructuring are usually effected through a scheme of arrangement that not only requires the approval of different classes of shareholders and creditors, but also the sanction of the relevant court of law. The provisions of the Companies Act, 1956, specifically sections 391 to 394, contain an elaborate framework to give effect to such schemes of...

The Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015

In the Budget Speech 2015, the Finance Minister outlined certain broad themes surrounding the tax proposals. The “first and foremost pillar” was stated to be “to effectively deal with the problem of black money”. To that end, the Government has introduced the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 in the Lok Sabha. A copy of the Bill can be downloaded here...

SEBI Board Decisions

SEBI announced a slew of decisions taken at its board meeting yesterday, which are excpected to have an impact on the capital markets, both primary and secondary. International Financial Services Centres (IFSCs) SEBI’s board has approved the SEBI (International Financial Services Centres) Guidelines, 2015, which will help establish IFSCs such as the proposed Gujarat International Finance Tec-City...

Rule Change for E-Voting

[The following guest post is contributed by Nidhi Bothra and Vinita Nair, Vinod Kothari & Co, Corporate Law Services Group. The authors can be contacted at nidhi@vinodkothari.com and vinita@vinodkothari.com respectively] Under the erstwhile system of holding general meetings, the resolutions were...

Trading on Insurance Policies in the Secondary Market

[The following guest post is contributed by Ammu Charles, who is an Associate at K Ramakumar and Associates] The Insurance Laws (Amendment) Bill, 2015 was passed by Parliament on March 12, 2015, replacing the ordinance promulgated last year. The Bill was first introduced on December 22, 2008 and seeks to amend the provisions in the Insurance Act, 1938, the General Insurance Business...

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