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Corporatisation Prospects for Unregistered Entities: Amendment to Section 366 of the Companies Act, 2013

[Pammy Jaiswal is a Partner at Vinod Kothari and Company] Background By virtue of the enforcement notification of the Ministry of Corporate Affairs (‘MCA’) dated 5 July 2018, the proposed change under section 75 of the Companies (Amendment) Act, 2017 (‘Amendment Act’) relating to section 366 of the Companies Act, 2013 (‘Act, 2013’) has been notified with effect from 15 August 2018. Further, by...

‘Royalty’: a Tax? : An Analysis of the Judicial Uncertainty and its Service Tax Implications

[Velpula Audityaa and Devansh Mani are both 4th year, B.A.LL.B (Hons.) Students at Symbiosis Law School, Pune] Whether royalty payable on minerals extracted  as provided for under section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 is in the nature of tax is one of the questions pending before a nine-judge bench of the Supreme Court. Depending on the outcome, there will be...

The Risks of Common Ownership on Competition: Emerging Jurisprudence

[Suyash Bhamore is a 3rd Year B.A. LL.B. (Hons.) student, NLIU Bhopal] Background and Context The Competition Commission of India (CCI) in order dated 20 June 2018 in Case No. 25-28 of 2017(Meru Cabs Case) ignited a discourse on antitrust risks perpetuating from common ownership. The Meru Cabs Casedefined common ownership as “a situation where large institutional shareholders such as investment...

Scope of Settlement under the Insolvency and Bankruptcy Code, 2016

[Kanika Sood is a lawyer based in Delhi] Pre-Ordinance Position Under the Insolvency and Bankruptcy Code, 2016 (the “Code”) a settlement between the creditor and debtor could be carried out by making an application of withdrawal under Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority Rules), 2016 beforethe admission of the application by the Adjudicating Authority...

Call for Papers: The National Law School of India Review

[Announcement on Behalf of the National Law School of India Review] About NLSIR The National Law School of India Review (NLSIR) is now accepting submissions for its upcoming issue – Volume 31(1). The NLSIR is the flagship law review of the National Law School of India University, Bangalore, India. The NLSIR is a bi-annual, student edited, peer-reviewed law journal providing incisive legal...

Supreme Court on Conflict in Arbitration Agreement of Insurance Policy

[Nikhil Singh is a 2nd Year B.A., LL.B. (Hons.) Student at The West Bengal National University of Juridical Sciences, Kolkata] Introduction Recently, a three-judge bench of the Supreme Court in the case of Oriental Insurance Co Ltd v. Narbheram Power and Steel Pvt Ltd analysed a contentious dispute redressal clause commonly found in insurance agreements. The Court, while finding in favor of...

The Indian Competition Watchdog’s Application of the Herfindahl-Hirschman Index

[Suyash Bhamore is a 3rd Year B.A. LL.B. (Hons.) student, NLIU Bhopal] Background and Context Economics, more specifically, tools of economic analysis have always been accorded paramount importance when conducting competition analysis. The Herfindahl-Hirschman Index (HHI) is one such econometric tool, which is widely accepted by various competition regulators as a measure of market concentration...

Inclusion of Home Buyers in the Insolvency Process: An Analysis

[Ashwin Mathew is with Mansukhlal Hiralal & Co, Mumbai] Introduction Pursuant to the Insolvency Law Reform Committee Report dated 3 April 2018 (“Report”), the Government has promulgated the Insolvency and Bankruptcy (Amendment) Ordinance, 2018 (“Ordinance”) on 6 June 2018 to implement the recommendations in the Report by amending the Insolvency and Bankruptcy Code, 2016 (“IBC”). One of the...

Confidentiality: Protecting Trade Secrets

[Maneck Mulla is a Partner and M. Siddha Pamecha an Associate at M Mulla Associates] Introduction There is no copyright on ideas or information; hence, sharing any confidential information and preserving such information present complex issues, especially at the time of breach of confidence. Often, without taking adequate safeguards, companies and individuals share technical know-how, trade...

Section 29A of the Insolvency and Bankruptcy Code: A Pandora’s Box

[Garima Mehra and D Sharma are both Advocates] One of the primary objectives of the Insolvency and Bankruptcy Code, 2016 (the “Code”)) is to facilitate the adoption of a resolution plan for the corporate debtor. The resolution plan is to serve as a benefit to not only the creditors but also to the already stressed corporate debtor. Originally, section 5(25) of the Code defined a resolution...

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