[The following announcement is posted on behalf of the NLUJ Law Review] About the Review The NLUJ Law Reviewis the flagship journal of National Law University, Jodhpur, established with the objective of promoting academic research and fostering debate on contemporary legal issues in India. It is a bi-annual, double-blind student reviewed and edited journal focusing on an inter-disciplinary...
Analysis of a Competition Commission Order on Abuse of Dominant Position
[Apurva Singh is a third year student at the National Law School of India University, Bangalore] In this post, I claim that the Competition Commission of India’s (“CCI’s)order in Bijay Poddar v. Coal India Ltd. (2017) is (1) violative of the Competition Act, 2002 (the “Act”) and (2) inefficient as per principles of law and economics. I shall first detail the facts and order of the CCI and then...
Analysing the Change in Law Regarding Issuance of Sweat Equity Shares
[Vartika Tiwari is a 3rdYear student of National Law Institute University, Bhopal and is on the Editorial Board of NLIU Law Review] On 16 January 2016, the Government launched the “Startup India”campaign and ever since it has been making constant efforts to promote startups and make the country business friendly. There is no denying the fact that India has come a long way since then. In fact, it...
Bombay High Court on Arbitration Agreement in an Unstamped Instrument
[Mansi M Patel is an Associate at IndusLaw] The Bombay High Court in Coastal Marine Construction and Engineering Limited v Garware-Wall Ropes Limited (March 2018) observed that in accordance with the amended provisions of section 11 of the Arbitration & Conciliation Act, 1996 (the “Act”), the role of the court to refer a dispute to arbitration is narrow and is limited to examine the existence...
Resolving the Anti-Trust Concerns Raised by Insolvency Resolution Plans
[Priyadarsini T P is a 3rd year B.A LL.B (Hons) student at National University of Advanced Legal Studies, Kochi] Recently, Vedanta and JSW Steel received approval from the Competition Commission of India (“CCI”) for acquiring the insolvent entities Electrosteel Steels Ltd. and Monnet Ispat and Energy respectively. Although section 238 of Insolvency and Bankruptcy Code, 2016 contains a non...
Revisiting “Sham” as a Ground for Piercing the Corporate Veil
[Ashwin Murthy and Sathvik Chandrasekhar are 4th year students from NALSAR University of Law] The doctrine of piercing the corporate veil was clarified in India with the landmark case of Balwant Rai Saluja v Air India (2013), recognising that the veil should rarely be lifted. Balwant directly relied upon the UK case of Prest v Petrodel which similarly narrowed the scope of such piercing (read...
Demystifying ‘Board Inter-locks’ under SEBI’s Amended Listing Regulations
[Gaurav Pingle is a practising Company Secretary in Pune and can be reached at [email protected]] Introduction On June 2 2017, the Securities and Exchange Board of India (‘SEBI’) constituted a committee under the chairmanship of Mr. Uday Kotak for improving the standards of corporate governance of listed companies in India. On October 5, 2017, Kotak Committee submitted its report to SEBI. The...
SEBI Informal Guidance on Foreign Portfolio Investments in Unlisted Non-Convertible Debentures
[Kosha Thaker is a corporate lawyer with a law firm in Mumbai] Background Earlier, registered foreign portfolio investors (“FPIs”) were permitted to invest only in listed non-convertible debentures (“NCDs”) or to-be listed non-convertible debentures (i.e. if the NCDs were listed within a period of 15 days from such investment). There was, however, a special carve out for FPIs investing in...
Fallacy of the Inverse: CCI’s Application of Leniency Provisions
[Mrinali Komandur is a third year student at the National Law School of India University, Bangalore and is an editor of the National Law School Business Law Review] On April 19, 2018, the Competition Commission of India (“CCI”) granted, for the first time since the inception of the leniency provisions, a 100% reduction in penalty to Panasonic India in the Zinc-carbon dry cell manufacturers...
Adherence to Timelines in the Insolvency Resolution Process
[Medhashree Verma is a 2nd year B.B.A, LL.B. student at National Law University Odisha, Cuttack] One of the main objectives behind the enactment of the Insolvency and Bankruptcy Code, 2016 (the “Code”) was to provide for a speedy system for resolution of stressed companies. A healthy insolvency regime requires fast insolvency resolution for minimising creditors’ losses and maximising the asset...
Recent Comments