[Nikita Snehil is a Manager at Vinod Kothari & Co, and can be reached at [email protected]] In its meeting held on March 28, 2018, the Securities and Exchange Board of India (‘SEBI’) has decided to amend regulation 40 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), which deals with transfer or transmission or transposition of...
Resolving the Ambiguity between Recommended and Fixed Resale Prices: A Comparative Approach
[Prakhar Bhatnagar and Karan Trehan are II year B.A. LL.B. (Hons.) students at the NALSAR University of Law, Hyderabad] Definition Resale Price Maintenance (“RPM’) is a form of price-fixing agreement whereby a producer specifies the maximum, minimum or the exact price at which a retailer must re-sell its products to the consumers. It is a vertical restraint as it operates between the players...
SEBI Regulation on Phantom Stock Options
[Dhruv Somayajula is a BA, LLB (Hons) student at NALSAR University of Law, Hyderabad] Introduction To minimize attrition of employees that are indispensable to its operation, companies offer financial incentives such as stock options. Stock appreciation rights (‘SARs’) are one such kind of stock options that create a right to the increment in value of the corporation’s stock over a...
Fugitive Economic Offenders Bill: An Overview
[Meera Sreekumar is a corporate lawyer and a graduate of the National Law School of India University, Bangalore] Introduction In the backdrop of the Nirav Modi scam, the Union Cabinet has approved the Fugitive Economic Offenders Bill, 2018 (the “Bill”). The Government of India initially introduced the Bill in the budget session of 2017-2018, and re-introduced it in the Lok Sabha on March 12, 2018...
Event Announcement: Global Academy for Advocacy in Dispute Resolution (GAADR)
[Announcement from the Peacekeeping and Conflict Resolution Team] The Peacekeeping and Conflict Resolution Team (PACT) is launching the first batch of the Global Academy for Advocacy in Dispute Resolution (GAADR) which will take place from June 11 to 16, 2018 in Goa, India. The first two and a half days (11,12,13) will be dedicated to CDR – Consensual dispute resolution...
Out-of-Court Settlements under the Insolvency Regime
The question of whether the creditors and an insolvent corporate debtor can enter into an out-of-court settlement that results in the withdrawal of the insolvency process has been a vexed one. The issue has received the attention of the Supreme Court on at least three occasions, as previously discussed on this Blog (here, here, here and here). However, as I argue in this column in BloombergQuint...
WhatsApp Leak Case: Powers of SEBI vs Privacy of Individuals
[Nandini Garg is a 4th year B.A., LL.B. (Hons.) student at National Law Institute University in Bhopal] In November, 2017, Reuters reported that the second quarter earnings of 12 companies, including popular blue chips such as Dr. Reddy’s, Cipla, Tata Steel etc., were being circulated on private WhatsApp groups. This prompted the Securities and Exchange Board of India (“SEBI”) to...
“Single-brand” Retail Trading Remains an Ambiguity in the Indian FDI Policy
[Dhanush Dinesh is a III Year, B.A. LL.B (Hons.) student at the National Law School of India University, Bangalore] Introduction Press Note 1 of 2018, amending the 2018 Indian FDI Policy, has been the cause for much celebration amongst foreign-owned entities engaging in single-brand retail trading (“SBRT”). With this press note, the entry route for foreign investment in SBRT has been simplified...
Supreme Court Rules on Mandatory Procedure under the SARFAESI Act
[Partha N. Mansukhani is a Fourth Year B.A. LL.B (Hons.) student at Symbiosis Law School, Pune] The Supreme Court last month in a decision in ITC Limited v. Blue Coast Hotels Ltd. & Ors clarified that section 13(3A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 (the “Act”) is not merely directory, but in fact mandatory...
Breaking New Ground: The Impact of BCCI v. Kochi Cricket Pvt. Ltd. on the Arbitral Regime in India
[Soham Banerjee is a 4th year student in the B.L.S LLB Program at Government Law College, Mumbai] Introduction A Division Bench of the Supreme Court on March 15, 2018 held in the case of Board of Control for Cricket in India v. Kochi Cricket Pvt. Ltd. that the nature of the Arbitration and Conciliation (Amendment) Act, 2015 (the ‘Amendment Act’) is prospective in its operation and held that it...
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