ArchiveMay 2016

Imposition of Penalty by the CCI: Is it Justified?

[The following guest post is contributed by Tarun Mathur, who is a Manager at Ernst & Young, LLP (Mumbai) and has earlier worked with the Competition Commission of India in its Combination Division. Views are personal.] Recently in an order (Notice given by Piramal Enterprises Limited (PEL) (C-2015/02/249)) dated May 2, 2016, the Competition Commission of India (CCI) imposed a penalty of INR...

SEBI’s Regime on Wilful Defaulters

Earlier this year, the Securities and Exchange Board of India (SEBI) had issued a discussion paper that proposed tight curbs against wilful defaulters from accessing the capital markets. We had commented on the discussion paper in previous posts (here and here). Pursuant to the consultation process, SEBI last week issued amendments to various regulations in order to operationalize such curbs...

RBI Permits Deferment of Consideration and Escrow Mechanism Under Automatic Route

[The following post is contributed by Abhishek Dubey who is a Managing Associate with BMR Legal, Delhi. The views expressed here are personal.] In continuation of its policy to rationalize the existing regime under the Foreign Exchange Management Act and to promote the ease of doing business, the Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Transfer or Issue of...

Draft Guidelines for Development of Onshore Wind Power Projects: A Preliminary Analysis

[The following guest post is contributed by Alimpan Banerjee, who is an Associate at Luthra and Luthra Law Offices, New Delhi. Views expressed are personal.] The Ministry of New and Renewable Energy (“MNRE”) has recently released the Draft Guidelines for Development of Onshore Wind Power Projects (“Guidelines”) dated May 12, 2016 (available here). In this post, the author attempts to analyze...

Arbitrability of Copyright Disputes

[The following guest post is contributed by Aditya Swarup, who is an Assistant Professor at Jindal Global Law School. The author would like to thank Shivprasad Swaminthan, Assistant Professor, Jindal Global Law School and Angad Mehta, Advocate, for their valuable comments.] In the recently delivered judgment in Eros International Media Ltd. v. Telemax Links India Pvt. Ltd., the Bombay High Court...

Interim Dividends – Is the Confusion Clearing?

[The following guest post is contributed by Siddharth Raja and Neeraj Vyas, who are Founding Partner and Associate respectively of Samvad Partners. Views are personal, and comments are welcome] The concept of ‘interim dividend’ was only introduced into the Indian companies statute in 2000 — that was legislative recognition of a move that had started to develop and gain...

The Need for a Dividend Disclosure Policy

[The following guest post is contributed by Soham Roy & Akhil Nene, who are 5th year students at the National Law University Odisha] In a recent Board meeting, SEBI provided an in-principle nod to mandating the top 500 listed companies in India (according to market capitalization) to disclose a dividend disclosure policy. Such a policy may include circumstances under which their shareholders...

Filling in the Gaps in the Insolvency and Bankruptcy Code – Cross Border Insolvency

[The following post is contributed by Aparna Ravi, who is a Bangalore-based lawyer and was a member of the Bankruptcy Law Reforms Committee. The views expressed here are personal.] One issue that is conspicuous by its absence in the Insolvency and Bankruptcy Code, 2016 (IBC), that recently got past both houses of Parliament and is now awaiting presidential assent, is cross border insolvency...

9th Annual NLSIR Symposium 2015-16 – Goods and Services Tax: The Changing Face of Fiscal Federalism in India

[The following announcement is being posted on behalf of the National Law School of India Review] The National Law School of India Review (NLSIR), the flagship journal of the National Law School of India University (NLSIU), Bangalore is pleased to announce the 9th Annual NLSIR Symposium on Goods and Services Tax: The Changing Face of Fiscal Federalism in India scheduled to be held on 14-15 May...

Indo-Mauritius Double Taxation Avoidance Treaty Renegotiated

Since the liberalization of India’s economy in 1991, a substantial amount of foreign investment into India has come in through Mauritius. This is essentially due to the favourable provisions of the “Agreement for avoidance of double taxation and prevention of fiscal evasion with Mauritius” (the “Mauritius Treaty”) that the Indian Government had entered into way back in 1983. Under article 13(4)...

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