ArchiveSeptember 2018

Non-Deductibility of CSR Expenditure under the Income Tax Act: Some Concerns

[Priya Garg is a 5th year student at West Bengal National University of Juridical Sciences (WBNUJS), Kolkata] The Income Tax Act, 1961 (“IT Act”) allows various business expenses to be claimed as ‘deductions’ while computing taxable income under the head ‘profit and gains of business or profession’.[1] Section 37 of the IT Act is a residuary provision on deductions. It permits any business...

Pricing Algorithms: How Should India Deal With It?

[Anik Bhaduri is a second-year B.A., LL.B (Hons.) student at NALSAR University of Law, Hyderabad] The rapid development of the digital world often presents issues which could not have been contemplated before, thus presenting new challenges to the existing legal framework, which has to modify itself to deal with the new problems. The development of pricing algorithms presents one such issue. As...

The Quandary of Market Delineation under Section 3 of the Competition Act

[Ahkam Khan & Divyansh Prasad are 3rd Year BA LLB (Hons.) students at Dr Ram Manohar Lohiya National Law University, Lucknow] Antitrust laws aim at protecting and sustaining competition by preventing practices having appreciable adverse effects on competition (or AAEC). This competition necessarily exists in closed economic models or marketplaces. For the purposes of gauging whether a...

Enabling Going Concern Sale in Liquidation

[Vinod Kothari and Sikha Bansal are at Vinod Kothari & Company and can be reached at [email protected]] The amendments to the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”), introduced on 28 March 2018 by incorporating a change in  regulation 32 of the Liquidation Regulations, made it explicitly possible for the...

Resale Price Maintenance in the Online Retailing Era: Exploring an Alternative

[Divyansh Prasad is a 3rd Year BA LLB (Hons.) student from Dr Ram Manohar Lohiya National Law University, Lucknow] Section 3 of the Competition Act, 2002 proscribes any horizontal or vertical agreements that may have appreciable adverse effects on competition. Section 3(4)(e) specifically prohibits agreements between two or more enterprises operating at different levels of production which...

Calcutta High Court Allows Trial Against Directors of a Mutual Fund Trustee Company

It is well-known that directors of a mutual fund trustee company carry onerous responsibilities, both under the Companies Act, 2013 as well as the SEBI (Mutual Funds) Regulations, 1996. The trustee company of a mutual fund and its directors are responsible for ensuring that transactions carried out by the fund are in accordance with the relevant regulations. This is despite the fact that the day...

Drawing the Line between Corporate Debtors and Personal Guarantors

[Partha N. Mansukhani is a fifth-year B.A. LL. B (Hons.) student at Symbiosis Law School, Pune] The Supreme Court in State Bank of India v. V. Ramakrishnan & Anr. held that an order of moratorium passed under section 14 of the Insolvency & Bankruptcy Code, 2016 (“Code”) will exclusively apply to the corporate debtor against whom an insolvency application has been admitted by the...

Settlements in Antitrust in India: The Right Road Ahead?

[Yash Bajpai is a 5th year B.B.A., LL.B. (Hons.) student at Symbiosis Law School in Hyderabad] Introduction The concept of settlements is not something new to the global anti-trust regime. It is a regulatory mechanism used worldwide for disposing off anti-trust matters; however, this still seems to be a far fetched dream in the Indian competition regime. Several jurisdictions across the world...

The Influence of Foreign Investors and Proxy Advisory Firms on Corporate Governance

Institutional investors have begun taking an active role in companies that have dispersed shareholding. This played out demonstrably in the case of HDFC in July when the chairman Mr. Deepak Parekh retained his position in the company by a narrow margin. This was attributable to a number of foreign institutional investors having voted against his continuation in the company. They did so on the...

Merger of Public Sector Banks and Competition Concerns

[Kruthika Venkatesh is a 4th year B.B.A., LL.B. (Hons.) student at School of Law, Christ (Deemed-to-be) University in Bangalore] Background The media has reported that the Government of India is all set to ask the Reserve Bank of India (“RBI”) to prepare a list of candidates for merger among the 21 government controlled lenders with the primary agenda of overcoming bad debts. It all began two...

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