[Anirudh Lekhi is an associate at a law firm in New Delhi, having graduated from National University of Juridical Sciences in 2017] Parties elect to incorporate pre-deposit clauses (PDCs) in arbitration agreements to principally weed out frivolous claims. Typically, PDCs provide for parties to deposit a portion of the amount claimed, with a bank, before initiating arbitration. In this regard, a...
Financial Statements of Foreign Subsidiaries of Indian Listed Companies
Corporate group structures are common among Indian listed companies which hold shares in subsidiaries both in India and other countries around the world. Due to differences in financial reporting requirements in all jurisdictions where the corporate group is present, the Companies Act as well as regulations issued by the Securities and Exchange Board of India (SEBI) have sought to harmonize such...
Concept of Retiring Auditors under the Companies Act, 2013
[Munmi Phukon is a Principal Manager at Vinod Kothari & Company, and can be reached at [email protected]] Five years since the implementation of the Companies Act, 2013 (CA 2013), a common agenda pertaining to appointment/ reappointment of statutory auditors is going to be placed before the shareholders in the ensuing annual general meetings of most of the companies. Since the scheme of...
Call for Papers: NLIU-Trilegal Summit on Corporate and Commercial Laws
[The following is an announcement from the Centre for Business and Commercial Laws, NLIU Bhopal] The Centre for Business and Commercial Laws of National Law Institute University, Bhopal (NLIU), in collaboration with Trilegal, is organizing the 5th NLIU-Trilegal Summit on Corporate and Commercial Laws on 31 August 2019. The present edition of the summit is an effort to continue the successful...
Bombay High Court Differentiates Options from Forward Contracts
[Debayan Gangopadhyay is a 3rd year B.A., LL.B. student at ILS Law College, Pune] An option in securities popularly known in forms such as “call” or “put” option is typically a clause in an agreement for transfer of shares through which the option holder gets the option to sell its shares to or buy additional ones from the transferor on a future date. An “option” is the right or entitlement, but...
Who Does India’s Draft Enabling Framework for Regulatory Sandbox actually Enable?
[Anupriya Dhonchak is a student at the National Law University New Delhi A longer version of this post is available on the Kluwer Competition Law Blog] One of the salient recommendations of the Reserve Bank of India (RBI) Working Group’s Report on FinTech and Digital Banking was the introduction of a regulatory sandbox in India. A regulatory sandbox is an innovative tool which allows market...
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