[Sannah Mudbidri is a 3rd year BA LLB (Hons.) student at National Law School of India University, Bangalore] The landscape of liquidator replacements under the Insolvency and Bankruptcy Code, 2016 (IBC) has witnessed a transformative journey, marked by the historical authority vested in the adjudicating authority and amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations...
Group of Companies Doctrine: Judgments Implicitly Overruled in Cox & Kings
[Varun Srinivasan is an advocate practising in New Delhi and is a junior in the chambers of Mr. Gaurav Pachnanda SA] The five-judge decision of the Supreme Court in Cox & Kings Ltd v. SAP India Pvt Ltd 2023 INSC 1051 has already been well summarized here and some of its implications are discussed here. The focus of this post is to recognize some of Cox & Kings’ more subtle contributions...
Smaller Ticket Sizes: Decoding SEBI’s Corporate Bond Market Reform
[Shalin Ghosh is a 2nd year B.A.,LL.B. (Hons.) student at Maharashtra National Law University, Mumbai] The Securities and Exchange Board of India (“SEBI”), through a consultation paper released on 9 December 2023, proposed a slew of reforms to spur the growth of the Indian corporate bond market. One of those reforms concerns permitting companies to issue non-convertible debentures (“NCDs”) and...
Navigating the Waters of Change: SEBI’s Instant Settlement Plan and Foreign Investor Concerns
[Arihant Sethia is a student at the Gujarat National Law University] In the fast-paced world of financial markets, where time is often equated with value, the Securities and Exchange Board of India (SEBI) has set the stage for a groundbreaking transformation. The proposed shift from the T+1 settlement system to an instantaneous settlement framework represents a bold leap into the future...
Navigating the Labyrinth: Landowners’ Rights in Real Estate Insolvency
[Dhaval Bothra and Rajdeep Bhattacharjee are law students at Symbiosis Law School, Pune] The intricate realm of real estate development is governed by meticulous development agreements, fostering a collaborative relationship between landowners and developers. In this partnership, landowners contribute valuable land, while developers undertake construction responsibilities, potentially leading to...
Addressing Unstamped Arbitration Agreements: Novel Ways to Reinforce Arbitral Autonomy
[Akash Kumar Surya is a 3rd year B.A., LL.B. (Hons.) student at the National Law School of India University, Bengaluru] In the case of In Re: Interplay the Supreme Court recently delivered its verdict on the legal position of unstamped arbitration agreement in India. The judgement has settled the issue, bringing clarity on a matter whose jurisprudence has otherwise been marked by chequered...
The Dynamics of Digital Consent Acquisition: The TRAI Mandate
[Shreya Saswati is a third year B.A.LL.B. (Hons.) Student at National Law University, Odisha] In its pursuit to curb the dissemination of unsolicited commercial messages, the Telecom Regulatory Authority of India (“TRAI”) issued a direction on 2 October 2023 under the Telecom Commercial Communication Customer Preference Regulation, 2018 (“TCCCPR”). This directed all access providers (“APs”) to...
A Breath of Fresh Air for Stressed Debts? Demystifying SEBI’s Consultation Paper on SSFs
[Mahim Raval is a 3rd year B.Sc., LL.B. (Hons.) student at Gujarat National Law University in Gandhinagar] India’s financial landscape has been grappling with the persistent burden of stressed assets, hampering the flow of credit and impacting economic growth. While the Reserve Bank of India (“RBI”) has introduced multiple schemes to resolve the burgeoning non-performing assets of banks, the...
Stamping Out Uncertainty: Resolving the Conundrum of Unstamped Arbitration Agreements
[Hrishikesh Goswami and Aryan Soni are 3rd year students at the Gujarat National Law University, Gandhinagar] The enforceability of arbitration clauses within inadequately stamped agreements has been a longstanding matter of legal scrutiny, with divergent opinions and decisions from various courts, including the Supreme Court. However, a significant resolution was achieved on December 13, 2023...
Unveiling the New LLP Rules on SBO Disclosure: Transparency or Ambiguity?
[Smruti Kulkarni and Manas Rohilla are 3rd year B.A., LL.B. (Hons.) students at the Gujarat National Law University, Gandhinagar] On 9th November 2023, the Ministry of Corporate Affairs (“MCA”) notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, which mandate all Limited Liability Partnerships (“LLPs”) to identify and disclose their Significant Beneficial...
Recent Comments