[Piyush Rathi and Saksham Agrawal are 4th Year B.A. L.L.B students at NALSAR University of Law] A majority of large scale businesses today grow around a parent company that branches out into a group of companies, each of which performs a specific function. Such a structure in the form of a conglomerate provides for administrative convenience to the managers of the companies along with a range of...
Status of Arbitration Proceeding and Award during Moratorium
[Jannhvi Bhasin is a commercial & corporate advocate specializing in insolvency law at Kesar Dass B. & Associates and Akshay Sharma is a final year B.A.LLB (Hons.) student at National University of Study and Research in Law, Ranchi] The Insolvency and Bankruptcy Code, 2016 (IBC), which is a complete code in itself and provides for the initiation of a corporate insolvency resolution...
Shareholding Patterns and Director’s Duty of Loyalty: Comparative Analysis of India and the US
[Ishani Mookherjee is a 3rd year B.A. LLB (Hons.) student at Jindal Global Law School] The Delaware Supreme Court, in Cede v. Technicolor Inc., examined the applicability of the business judgment rule in the United States (US). For a business decision to be protected by this rule, two conditions have to be satisfied – the duty of loyalty and the duty of reasonable care. This creates a...
Competition Commission on Regulating Distribution of Pharmaceutical Products
[Anupriya Dhonchak is a IV year student at the National Law University, Delhi] The pharmaceutical sector merits close competition scrutiny because the practices by multiple market players in the sector play a crucial role in determining sustainable access to affordable medicines. The nexus among manufacturers, wholesalers and retailers gives rise to unique competition concerns due to the...
Highlights of Companies (Amendment) Bill, 2019
[Vinod Kothari is a corporate and insolvency practitioner at Vinod Kothari & Co and can be reached at [email protected]] The Companies (Amendment) Bill, 2019 has been placed before the Parliament on 25 July 2019. While the Bill, 2019 is largely to enact into parliamentary law the provisions already promulgated by way of Presidential Ordinance, the Bill also brings some interesting...
SEBI’s DVRs Framework: How Will the Indian Market React to a Super Voting Stock Structure?
[Sarthak Sharma and Aabha Dixit are 3rd year and 4th year students respectively at Hidayatullah National Law University, Raipur] The Securities and Exchange Board of India (SEBI) on 27 June 2019, after much deliberation, approved the issuance of shares with differential voting rights (DVRs) and issued a framework governing issuance and listing of shares with DVRs. Prior to this, whilst issuance...
Payment of Stamp Duty Inconsequential to Enforceability of a Foreign Arbitral Award in India
[Anirban Chanda is a fourth-year B.A., LL.B. (Hons.) student and Anujay Shrivastava a final-year B.A., LL.B. (Hons.) student at Jindal Global Law School] While the Indian Arbitration and Conciliation Act, 1996, even after the 2015 amendment, does not expressly lay down any legal requirement that mandates parties to an arbitration agreement to pay stamp duties on an arbitral award, there has been...
Competition Law Issues in the Indian Telecom Sector: Analysis of Recent Developments
[Varun Kannan is a 5th year law student at the National University of Juridical Sciences, Kolkata] The telecom sector in India has witnessed intense competition over the past decade. The arrival of Reliance Jio and the Vodafone-Idea merger reinforce the steep competition that exists in this sector – which forces the market players to continuously enhance their performance and gain an edge over...
Open Banking Standard in the Indian Context
[Kishan Gupta is a B.A. LL.B. (Hons.) student at Dr. RML National Law University, Lucknow and Managing Editor of the RMLNLU Arbitration Law Blog] Understanding Open Banking Standard Until now, the names of large banks like SBI, ICICI and PNB were considered synonymous with custodian of customer’s financial data. Generally, these traditional banks store customer’s financial information for their...
NCLAT Decision in Essar Steel Insolvency Proceedings: A Radical Stance?
[Ashwin Mathew is with Mansukhlal Hiralal & Co, Mumbai] The National Company Law Appellate Tribunal (NCLAT) on 4 July 2019 laid down important principles on the corporate insolvency resolution process in Standard Chartered Bank v. Satish Kumar Gupta which related to the insolvency proceedings of Essar Steel India Limited, the corporate debtor, under the Insolvency and Bankruptcy Code, 2016...
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