ArchiveMarch 2017

SEBI’s Special Treatment to Public Sector Banks

[Guest post by Abhishek Borgikar, who is a Senior Associate at Dhaval Vussonji Alliance] Violation of Minimum Public Shareholding Norms The former chairman of the Securities and Exchange Board of India (SEBI), Mr. U. K. Sinha, while talking about minimum public shareholding in public sector companies said: “Our [SEBI’s] stand as a regulator is that all cos should be treated alike on all matters...

Supreme Court on Independence and Impartiality of Arbitrators

[Guest post by Sneha Bhawnani, Assistant Legal Advisor at Vinod Kothari & Company (Kolkata) and Swatilekha Chakraborty, BBA.LL.B final year student at Symbiosis Law School, Pune.] One of the ways in which efficacy and efficiency of alternate dispute resolution mechanisms can be ascertained is by ensuring the independence and impartiality of the arbitrators. The Supreme Court of India...

SEBI Order Denying Inter-se Promoter Transfer Exemption

[Guest post by Shashank Prabhakar, who is a lawyer with Finsec Law Advisors] The Whole Time Member of the Securities and Exchange Board of India (SEBI) recently passed an order relating to an application under Regulation 11(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the Takeover Regulations) for exemption from making an open offer under Regulation 3(2)...

NCLT Rules on Maintainability in the Tata-Mistry Case

Background The action on the legal front in the Tata-Mistry episode has been playing out in the National Company Law Tribunal (NCLT) over the last few weeks. This is on account of an action for oppression and mismanagement initiated by two Mistry companies (the Mistry Group) that are shareholders of Tata Sons against the company as well as its directors and officers. The action was brought under...

Call for Papers: Indian Journal of Tax Law

[Announcement from the Indian Journal of Tax Law] The Indian Journal of Tax Law (‘IJTL’) is a biannual journal dealing with taxation. The Journal is published by an independent organization of students from National Law University Odisha. IJTL is India’s first student edited, peer reviewed law journal focusing on taxation. The journal is focused towards enabling innovative academic research and...

Disclosure of all ‘actions’ against foreign promoters under ICDR Regulations

[Guest post by Nikunj Agarwal, a fifth-year B.A., LL.B (Hons.) student at Dr. RML National Law University, Lucknow] In recent years, India witnessed a steady increase in foreign investment in the Indian economy. The preceding year also saw many private equity funds and other institutional investors making an exit through the initial public offering (IPO) route. However, legal issue amounting to a...

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