ArchiveNovember 2015

Major FDI Reforms: A Snapshot

[The following guest post is contributed by Bhushan Shah & Labdhi Shah from Mansukhlal Hiralal & Company] The Government last week issued a Press Note announcing reforms (“Reforms“) in 15 major sectors in respect of Foreign Direct Investment (FDI). The objective of the Government is to ease the process of foreign investments in the country and bring substantial...

Bankruptcy Code on Non-Corporate Insolvency and Bankruptcy

[The following guest post is contributed by Vinod Kothari & Niddhi Parmar of Vinod Kothari & Co] The Bankruptcy Laws Reforms Committee (“BLRC”) presented its final report (“Final Report”) to the Government of India on November 4, 2015. This Final Report is divided into 2 parts, i.e. Volume I and Volume II comprising the text of the findings and recommendations and the draft Insolvency and...

Papers on M&A Agreements, Woman Director

Professor Afra Afsharipour has posted on SSRN two papers that may be of interest to readers. They are listed below along with abstracts. Legal Transplants in the Law of the Deal: M&A Agreements in India This chapter reviews the transformation of merger and acquisition (M&A) transactions in India. Due to globalization and economic liberalization, India has experienced a significant wave of...

Ushering in a New Corporate Bankruptcy Regime for India

[The following guest post is contributed by Vinod Kothari of Vinod Kothari & Co.] The Bankruptcy Laws Reforms Committee (“BLRC”) headed by Dr. T. K. Viswanathan recently submitted its final report (“Final Report”) to the Ministry of Finance. Before this, an interim report (“Interim Report”) was submitted earlier in February 2015. While the Interim Report merely recommended some amendments to...

Competition Law and the Curious Case Of Integrated Townships

[The following guest post is contributed by Sarthak Raizada, a 4th year law student at Dr. Ram Manohar Lohiya National Law University, Lucknow] The issue of relevant market for an anti-trust analysis has been the subject matter of considerable debate with respect to the real estate sector. The Competition Commission of India (“CCI”) has extensively dealt with the said issue in a plethora of...

SEBI Order on Delisting Price

Delisting transactions tend to be sensitive as they underscore the conflicts between controlling shareholders (or promoters) and minority shareholders. The promoters are in a position to delist the company at any time they consider appropriate even though the circumstances may not necessarily favour the minority shareholders. Moreover, due to the information asymmetry between the two groups of...

Enhanced Disclosure Requirements for Listed Companies

SEBI this week issued a series of circulars pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), which seek to streamline and enhance the disclosure obligations of listed companies. The three different circulars are briefly discussed below. Shareholder Voting Results In the case of shareholders’ meetings, SEBI has prescribed that a...

Proposed Bankruptcy Code Unveiled

The much-awaited reform of bankruptcy law in India has witnessed a momentous step with the finalization of the report of the Bankruptcy Law Reforms Committee, which was issued yesterday. The report contains two parts: the Rationale and Design and a draft of the Insolvency and Bankruptcy Bill, 2015. Of course, it is impossible to discuss the details of the reforms proposed within the confines of a...

Call for Submissions: The Indian Journal of International Economic Law

The Indian Journal of International Economic Law is now accepting submissions for its upcoming issues – Volume 8(1) and 8(2). The Indian Journal of International Economic Law (IJIEL) is a law journal published by National Law School of India University, Bangalore (NLSIU) under the patronage of the Indian government sponsored chair on WTO Law. The Journal is oriented towards publishing...

Directors Conclave on Corporate Governance – December 3, 2015

[The following announcement is posted on behalf of Vahura] Vahura is convening the Directors Conclave on Corporate Governance in partnership with the International Finance Corporation, Cyril Amarchand Mangaldas and IIAS at the ITC Grand Central, Parel, Mumbai on December 3, 2015 (Thursday). The Conclave will further the dialogue among Regulators, directors and Key Stakeholders in the sphere of...

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