ArchiveAugust 2017

Supreme Court on Prosecuting a Company for Cheque Dishonour

The Supreme Court in N. Harihara Krishnan v. J. Thomas ruled yesterday on certain procedural aspects relating to the offence under section 138 of the Negotiable Instruments Act, 1881 (“NI Act”) of dishonour of a cheque issued by a company. It held that any failure to include the company as an accused in the complaint at the outset (i.e. within the limitation period) would be fatal to the...

Call For Papers: NLUD Student Law Journal, Volume 5

The NLUD Student Law Journal is National Law University, Delhi’s flagship journal. It is an annual student edited, peer-reviewed law journal, which seeks to provide a forum for engaging in discussions on varied issues of contemporary importance in domestic and international law and policy. The aim of the journal is to provide a platform for discussion of matters relating to crucial developments...

SEBI Informal Guidance on Profit Sharing Arrangements

Last year, the Securities and Exchange Board of India (“SEBI”) clamped down on upside sharing arrangements between promoters or senior management of listed companies on the one hand and private equity investors on the other. Accordingly, the securities regulator amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “LODR Regulations”) to introduce regulation...

The ITAT Ruling in the NDTV Case: Some Thoughts and Questions

[Post by Shreya Rao] The ruling of the Delhi Income Tax Appellate Tribunal (ITAT) in the case of NDTV presents a poor picture of all actors. NDTV’s transactions fail to pass the smell test. The framing of the revenue’s position fails to convince you that NDTV’s smelly transactions should trigger a tax under law. The ruling itself is a 385-page tome written in the stream of consciousness style. It...

Applicability of the Limitation Act to Insolvency Proceedings

[Guest post by Ashish Virmani & Tanisha Khaitan, both lawyers based in New Delhi and graduates of National Law University Jodhpur] The National Company Law Appellate Tribunal (“NCLAT”) in a recent judgement dated 11 August, 2017 in Neelkanth Township vs. Urban Infrastructure held that the Limitation Act, 1963 is not applicable to proceedings under the Insolvency and Bankruptcy Code, 2016 (the...

Corporate Insolvency Resolution Process and Implications on Securities Laws: Recent Changes

[Guest post by Yogesh Chande, Partner, Shardul Amarchand Mangaldas. View of the author are personal] SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”)  The newly inserted provision in regulation 10 of the Takeover Regulations, notified on 14 August 2017, exempts an acquisition pursuant to a resolution plan approved under section 31 of...

Supreme Court Settlement Orders in Insolvency Cases: Opening of Pandora’s Box?

[Guest post by Anupam Choudhary, who is an Associate at Agram Legal Consultants, a law firm based in Mumbai. The views and opinions expressed are those of the author and do not reflect the view of his firm nor do they constitute legal opinion.] The Supreme Court has recently, in two orders, allowed settlement to be recorded between the parties even when the insolvency application had already been...

An Analysis of the First Insolvency Resolution Scheme Under the Insolvency and Bankruptcy Code

[Guest post by Enakshi Jha, who is a graduate from NALSAR University of Law and is currently working at a corporate law firm in Mumbai] Factual Matrix In the present case, Synergies-Dooray Automotive Limited (“SDAL”) was the corporate debtor. Ms. Mamta Binani was appointed as the Resolution Professional and is the applicant in the present dispute and had filed an application against all the...

A Guide for Filing Form C by Flat Buyers in the Jaypee Infratech Insolvency Matter

[Guest post by Abhishek Dubey, a corporate lawyer based out of Delhi NCR. This document is merely a guidance for fellow flat buyers of Jaypee Wishtown and not legal advice. Flat buyers may consult their own legal counsel before taking any action. Views are personal. Some of the background to the legal issues arising in this post are available here.] Thousands of flat buyers stuck in the Jaypee...

Amendment Creates a Third Class of Creditor Under the Insolvency and Bankruptcy Code, 2016

[Guest post by Aayush Mitruka, a lawyer based in Delhi] The Insolvency and Bankruptcy Board of India (“IBBI”) on 16 August, 2017 amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 and...

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

Topics

Recent Comments

Archives

web analytics