ArchiveDecember 2017

Revisiting Arbitrability of Claims of Oppression and Mismanagement: A Singapore Perspective

[Aishwarya Singh is a 4th year student at Jindal Global Law School] The Bombay High Court (HC) in the case of Rakesh Malhotra v. Rajinder Kumar Malhotra (2014) had held that oppression and mismanagement claims are not arbitrable because the arbitral tribunal does not have the power to grant all the statutory reliefs available in a minority oppression claim. On the other hand, the Singapore Court...

Announcement: LL.M in Law & Development 2018 – Azim Premji University

[Announcement from Azim Premji University] Admissions for Azim Premji University’s one-year master’s programme in Law &  Development (LL.M. in Law & Development) for the academic year 2018-2019 are now open! The LL.M in Law & Development is a unique, inter-disciplinary programme taught by internationally trained, reputed faculty to a select group of highly talented students carefully...

Can a Company ‘Selectively’ Reduce its Capital?

[Shikha Rawal is an Associate at a law firm in Mumbai. The views in this post are personal.] Over the years, several companies have increasingly resorted to selective capital reduction as a means of share capital management. A reduction of capital often involves the reduction of the same proportion of the shares of the company on similar terms and conditions offered to each shareholder whose...

Compulsory Amalgamation: the Bombay High Court on the FTIL-NSEL case

In 63 Moons Technologies Ltd. v. Union of India (and connected petitions), the Bombay High Court considered important questions of law going to the heart of Indian corporate law. The case involved a challenge to an order of the Central Government under s. 396 of the Companies Act, 1956. Purporting to act under s. 396, the Central Government had amalgamated the National Spot Exchange Ltd. (“NSEL”)...

Our Tenth Anniversary

Today marks the tenth anniversary of the IndiaCorpLaw Blog. The first post appeared on December 26, 2007. The Blog was launched with very little, or almost no, expectations as to its future. Surprisingly though, it has survived this long. That can be attributed to a number of factors: we have been fortunate to be joined by a wonderful team of collaborators and guest contributors to keep up the...

Call for Papers: NLS Business Law Review

[Announcement from the NLS Business Law Review] The NLS Business Law Review is an initiative by the National Law School of India University to recognise and foster academic research and scholarship in corporate and commercial law. The law review intends to examine the interface between the myriad regulatory frameworks that impact doing business in India, particularly in light of comparative...

Arbitrability of Fraud in India – Is Ayyasamy only about “Seriousness”?

[Shubham Jain and Prakshal Jain are V Year B.A., LL.B. (Hons.) students at National Law School of India University, Bangalore] Introduction The question of arbitrability of fraud in case of domestic seated arbitration in India was addressed by the Supreme Court in A. Ayyasamy v. A. Paramasivam (“Ayyasamy”). Ayyasamy has been subjected to much discussion and criticism here, here, here and here...

Bombay High Court Upholds the Constitutional Validity of RERA

Bhushan Shah & Neha Laxman are with Mansukhlal Hiralal & Company. The Supreme Court of India had transferred a series of writ petitions filed by developers and builders challenging the constitutional validity of certain provisions of the Real Estate Regulation and Development Act, 2016 (RERA or Act) to the Bombay High Court. On 6 December 2017, a division bench of the Bombay High Court...

Insolvency Code: Beneficial Proceedings Relating to Corporate Debtor outside the Scope of Moratorium

[Aayush Mitruka is a lawyer based in Delhi] The Delhi High Court’s ruling in the case of Power Grid Corporation of India Limited Jyoti Structures Limited (11 December 2017) assumes importance because it is one of the very few decisions interpreting section 14 of the Insolvency and Bankruptcy Code, 2016 (Code) that deals with moratorium. In a significant outcome, the Court travelled beyond the...

Some Problems with Equalisation Levy

[Shantanu Lakhotia is a 4th year B.A., LL.B. (Hons.) student at Jindal Global Law School in Sonipat] A notification issued by the Government of India on 27 May 2016 provides for a 6% equalization levy to be withheld by Indian residents, as well as a foreign company having a permanent establishments in India, from business-to-business payments to a non-resident service provider for specified...

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