[The following post is contributed by Gunjan Chhabra who a practising advocate currently with Singhania and Partners. She can be reached at [email protected]] The Arbitration and Conciliation (Amendment) Act, 2016 has brought about various new shifts and changes from the previous law. Amongst the various changes made is a very interesting modification which makes certain provisions...
Second Leg of SARFAESI: All Transactions to be Registered with CERSAI
[The following guest post is contributed by Niddhi Parmar of Vinod Kothari & Company. The author can be contacted at [email protected]] Introduction The Central Government introduced the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Amendment Rules, 2016 (hereinafter referred as ‘Amendment Rules, 2016’) on January 22, 2016...
Messer Holdings: Supreme Court Refuses to Decide on the Enforceability of Share Transfer Restrictions
As we have previously discussed on several occasions (here and here), the question of enforceability of share transfer restrictions in Indian companies has been a vexed one. Although the Bombay High Court has sought to bring about some resolution of the issues in its leading judgments of Messer Holdings v. Shyam Madanmohan Ruia and Bajaj Auto Ltd. v. Western Maharashtra Development Corporation...
Some Ambiguities in the Rules on Downstream Investments
[The following guest post is contributed by Ajay G. Prasad, who is a Senior Associate with Kochhar & Co, Bangalore. Views expressed in this post are personal and do not reflect the views of the firm.] Exchange control rules on downstream investment form an important aspect to consider in M&A transactions. As per the foreign direct investment policy (“FDI Policy”) of the Department of...
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