[Tirth Purani and Aditi Srivastava are 4th year BALLB (Hons) students at Institute of Law, Nirma University] Small and medium enterprises (“SMEs”) constitute the backbone of the Indian economy, contributing significantly to employment generation, innovation and growth. When the question of their survival and growth emerges, capital often becomes a roadblock. An initial...
Protection of Minority Shareholder Rights: Addressing Shareholder Deadlocks
[Shreeji Patel is a student at National Law Institute University, Bhopal (NLIU)] A recent ruling in Escientia Life Sciences v. Escientia Advanced Sciences (P) Ltd. dated 21 March 2025 reflects the evolving approach of the National Company Law Tribunal (“NCLT”) in resolving shareholder deadlocks. The NCLT proposed a structured buy-out mechanism after observing that a continued...
SEBI’s Move to Allow Promoters to Retain ESOPs Post-IPO: A Critical Analysis
[Arushita Singh is a fourth year student at National Law Institute University, Bhopal] In its recent consultation paper, the Securities and Exchange Board of India (SEBI) has proposed a slew of amendments aimed at refining the regulatory landscape for public issues and offering clarity on procedural requirements. Among these proposals, a clarificatory amendment aims to resolve...
Not So Enka-dible: Why the Indian Supreme Court Must Rethink the Law Governing Arbitration Agreements
[Akash Kumar Surya is a IV year student at the National Law School of India University, Bengaluru] When parties agree to resolve disputes through arbitration, three distinct laws typically come into play: the lex contractus (governing the rights and obligations under the contract), the law governing the validity and interpretation of the arbitration agreement (LGAA), and...
Call for Papers: 3rd Edition of Wadia Ghandy Awards for Structured Finance Research
[Announcement on behalf of Vinod Kothari Consultants] We are inviting researchers, law students, and legal scholars to make their contribution to structured finance research and submit their papers for consideration on the list of attached topics. Selected Topics (further details in the link below) Optimal regulatory regime for listed securitised debt securities Tokenisation as an...
Philanthropic Stock Market: SEBI’s Framework on the Social Stock Exchange
[Anenya and Yash Sharan are students of Hidayatullah National Law University, Raipur] On 19 March 2025, the Securities and Exchange Board of India (“SEBI”) issued a circular (“the Circular”) proffering a framework on a social stock exchange (“SSE”). This regulatory development allows social enterprises to obtain funding through an exchange system that receives regulatory...
Advancing from Reactive to Proactive Post-Acquisition Control Surveillance with Global Insights
[Deergha Meena is a fourth year student at NALSAR University of Law] India’s framework for monitoring post-acquisition control remains largely reactive, leaving a critical gap in tracking the evolution of control after transactions close. Although the Securities and Exchange Board of India’s (SEBI’s) Takeover Regulations and SEBI’s Listing and Disclosure Requirements...
Appointing Arbitrators Following the Approval of Resolution Plans: Adopting A Pro-IBC Stance
[Udai Yashvir Singh and Aditi Gupta are 5th year students at National Law University Delhi] The principle of clean slate was propounded by the Supreme Court in the seminal case of CoC of Essar Steel India Limited v. Satish Gupta. The principle essentially entails that any claim which is pending before a court or arbitral tribunal or any claim which has not been...
To Register or Not to Register ? – MSMEs and Arbitration Act
[Anirudh Goyal is a practicing advocate at the Calcutta High Court, and Jaspreet Singh is a final year undergraduate student at the WBNUJS, Kolkata] On multiple occasions, the Supreme Court, followed by various High Courts, has emphasised upon registration being a prerequisite for availing benefits under the Micro, Small and Medium Enterprises Development Act, 2006 (“MSMED Act...
Restricting Carry-Forward of Losses: Analysing Reforms to the Income Tax Act
[Megha Porwal and Manav Pamnani are 3rd year B.A., LL.B. (Hons.) students at the NALSAR University of Law, Hyderabad] The Union Budget presented on 1 February 2025 marks a significant development in the jurisprudence pertaining to direct taxes in India. This is because it introduces a substantial amendment to sections 72a and 72AA of the Income...
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