Blog Posts
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The Securities Laws (Amendment) Act, 2014 – A Critical Analysis
[Posted by Umakanth Varottil] [The following guest post is contributed by Mubashshir Sarshar, who is a lawyer and an alumnus of National Law University Delhi. The author can be reached at mubashshir.sarshar@gmail.com.] Two standalone incidents within a span of one year have managed to change the entire paradigm of the securities market transactions in India.…
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Guest Post: Guarantee Against Loan from Banks and Financial Institutions
[Posted by Umakanth Varottil] [The following post is contributed by Abhishek Bansal and Stuti Bansal, Corporate Professionals, Advisors & Advocates. The authors can be reached at abhishek@indiacp.com and stuti@indiacp.com respectively] Recently, India saw the enactment of the Companies Act, 2013 (“Act”), replacing the Companies Act, 1956, which governed the incorporation, functioning, transactions and other activities…
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Guest Post: Company Law Settlement Scheme – 2014
[Posted by Umakanth Varottil] [The following guest post is contributed by Abhishek Dubey, who is a Senior Associate with BMR Legal. Prior to joining BMR Legal, Abhishek has worked with Amarchand & Mangaldas & Suresh A. Shroff & Co. and P&A Law Offices.] Introduction The Ministry of Corporate Affairs has introduced a scheme for companies…
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Guest Post: CCI Order on Car Manufacturers for Anti-Competitive Conduct
[Posted by Umakanth Varottil] [The following guest post is contributed by Ann Minu Jose, a lawyer working with the Competition Commission of India. Views expressed are personal. The CCI Order discussed is available here] Facts: Information was filed under Section 19(1)(a) of the Competition Act, 2002 (“Act”) initially against 3 car manufacturers[1] alleging anti-competitive practices…
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Oppression/Mismanagement and Arbitration Clauses
[Posted by Mihir Naniwadekar] We had earlier briefly noted the decision of the learned Single Judge of the Bombay High Court in Malhotra v. Malhotra, where it was held that disputes in a petition properly brought under sections 397-398 of the Companies Act are not capable of being arbitrated. In essence, the learned Single Judge…
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Resources on the Securities Laws (Amendment) Act, 2014
[Posted by Umakanth Varottil] [One of our readers has helpfully shared various resources in connection with the latest legislative amendments relating to the powers and functions of SEBI, which might be of wider interest] The Securities Laws (Amendment) Act, 2014 received the assent of the President on the 22 August, 2014 and was published in…
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Good faith in multi-tier dispute resolution clauses – Part I
[Posted by Shantanu Naravane] One of the more significant contract law decisions to emerge from the English High Court in 2013 was the decision of Leggatt J in Yam Seng, which held that ‘good faith’ was a concept not limited to civilian legal systems and could be put to use in the interpretation of contracts…
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Foreign Investment in Rail Infrastructure
[Posted by Umakanth Varottil] Following the liberalisation of foreign investment in the defence sector, the Department of Industrial Policy & Promotion, Government of India has issued Press Note No. 8 (2014 Series) that now permits foreign investment in the railway sector. The permitted scope of business in the sector is as follows: Construction, operation and…
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NLS Business Law Review (Volume 1): Call for Submissions
[Posted by Umakanth Varottil] [The following announcement is posted on behalf of the Editors of 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…
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Liberalisation of Foreign Investment in Defence
[Posted by Umakanth Varottil] A few weeks ago, the Cabinet had announced the liberalisation of the foreign investment policy in the defence sector. Now, the Department of Industrial Policy and Promotion has issued the Press Note No. 7 (2014 Series) that implements the new policy. Some of the principal changes include the following: (i) Increase…