[The following announcement is posted on behalf of the National Law School of India Review] The National Law School of India Review (NLSIR) is now accepting submissions for its upcoming issue- Volume 28(1). The most recent issue of the NLSIR, Vol. 27(1), will feature contributions by Dr. Catherine Seville, Reader, Newnham College, University of Cambridge, Dr. Wayne Courtney...
Stamp Duty on Mortgages in Syndicated Lending Transactions
Background Syndicated loans are quite common in lending transactions. In large loans, a single bank may not be in a position to provide the loan by itself. Hence, the loan is syndicated such that “two or more banks agree to make loans to a borrower on common terms governed by a single agreement between all parties.”[1] Similarly, a common security trustee is appointed to receive and hold the...
Need For a Real Estate Regulatory Authority in India
[The following guest post is contributed by Ranjit Mahishi, who is an Associate at Kochhar & Co., Bangalore. He can be reached at [email protected]] Real estate in India has experienced a tremendous growth in the recent years. The demand for commercial and residential spaces in major cities has seen a steady rise. Generally, a real estate transaction involves complex issues such...
Changes in the Fraud Reporting Mechanism Under the Companies (Amendment) Act, 2015
[The following guest post is contributed by Suprotik Das, a 4th year law student at the Jindal Global Law School, Sonepat, Haryana.] The Companies (Amendment) Act, 2015 is a harbinger of positive trends in the ease of doing business for Indian companies. This post is specifically with regard to Section 143 of the Companies Act, 2013 concerning the power and duties of auditors and its...
Independent Directors in Private Debt-Listed Companies
[The following guest post is contributed by Niddhi Parmar of Vinod Kothari & Co.] Earlier under Companies Act, 1956 (section 2(23A)) the term “listed public companies” was in a manner that clearly excluded private companies. Consequently, listed private companies were exempt from certain provisions that were exclusively applicable to listed public companies. However, the Companies Act, 2013...
GNLU Moot on Securities and Investment Law
[The following announcement is being posted on behalf of the Gujarat National Law University] Gujarat National Law University is pleased to announce the inaugural edition of GNLU Moot on Securities and Investment Law, scheduled to be held from 11th to 13th September, 2015. Given the interest of the student community in the nuances of these laws and considering the fact that none of the existing...
The Indian Financial Code Draft II: Catalyzing “Too Big to Fail” In India?
[The following post is contributed by Mandar Kagade, who is a Policy Analyst at the Bharti Institute of Public Policy, Indian School of Business] The Indian Financial Code has proposed to constitute the Financial Stability & Development Council (“FSDC”) pursuant to Chapter 76 of the Code with the objective of fostering the stability and resilience of the financial system by identifying and...
Status of Subsidiary Private Companies in India – Cross Border Holdings
[The following guest post is contributed by Siddharth Raja, Founding Partner of Samvad Partners. Views are personal, and comments are welcome] The Ministry of Corporate Affairs’ (“MCA”) recent issuance of a notification providing for exceptions, modifications and adaptations in the application of the Companies Act, 2013 (the “2013 Companies Act”) to “private companies” has once again revived the...
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