[Sourav Paul is a fourth-year undergraduate student at the West Bengal National University of Juridical Sciences, Kolkata] The rapid expansion of social media has significantly impacted securities markets, with the emergence of finfluencers, who provide investment advice on social media platforms. These finfluencers have a huge following, primarily comprising retail investors, and exert more...
Deciphering Tax Evasion: A Legal Perspective on Leveraging AI/ML for Robust Enforcement
[Syed Alwaz Asif is a penultimate year law student at Dr Ram Manohar Lohiya National Law University, Lucknow.] In an era where organizations and governments are inundated with vast amounts of data, the challenge of effectively detecting and preventing tax fraud has intensified. The overwhelming magnitude of information available often surpasses human capacity to discern intricate patterns and...
Examining the Viability of Corporate Insolvency Resolution for Section 8 Companies
[Niharika Agarwal and Akshita Bhansali are 3rd year students at Gujarat National Law University] In Educomp Infrastructure & School Management Limited v. Millennium Education Foundation (4 July 2023), the National Company Law Appellate Tribunal (“NCLAT”) held that an application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) is maintainable in case of a corporate...
GST’s New Frontier: Taxability of Corporate Guarantees
[Esha Rathi is a final year B.B.A. LL.B. (Hons.) student at Jindal Global Law School] Parent companies extending corporate guarantees for their subsidiaries is a common practice but has been a subject of debate on whether it can be construed as a taxable service. In July 2023, the Directorate General of Goods and Services Tax Intelligence issued tax demand notices to numerous local corporate...
An Endeavour to Understand the “Endeavours” Clause and its “Legal Transplant” in India
[Shinoj Koshy and Radhika Malpani are with Luthra and Luthra Law Offices] Globalisation has led to a significant increase in the cross-border transactions and this in turn has led to “legal transplants” – a phenomenon where contracts memorializing cross-border transactions tend to include legal terms and concepts which are prevalent in other legal systems. The term “legal transplant” was coined...
Unveiling SEBI’s Game-Changing Market Rumours Amendment
[Raashi Sanjay Sarupria is a 3rd-Year B.B.A., LL.B. (Hons.) student at the Gujarat National Law University] The Securities and Exchange Board of India (“SEBI”) has implemented significant amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), effective from October 1, 2023. The SEBI (Listing Obligations and Disclosure Requirements) (Second...
KPIs in IPO Documents – A Year In Review
[Suchisubhra Sarkar, a graduate of the West Bengal National University of Juridical Sciences, is a capital markets practitioner with over four years of experience at leading law firms.] In the aftermath of poor post-listing performance by technology companies, the Securities and Exchange Board of India (“SEBI”) took cognizance of the need to standardize and disclose valuation metrics. In...
Streamlining the Voluntary Liquidation Process: IBBI’s Proactive Move
[Manas Rohilla and Smruti Kulkarni are 3rd year B.A., LL.B. (Hons.) students at the Gujarat National Law University, Gandhinagar] On 5 October 2023, the Insolvency and Bankruptcy Board of India (IBBI) took a proactive stance by releasing the Discussion Paper on Streamlining the Voluntary Liquidation Process (Discussion Paper), proposing amendments to the Insolvency and Bankruptcy Board of India...
SEBI’s Quest for Transparency: Decoding the Disclosure Mandate and the Impact on FPIs
[Palash Varyani is a 3rd-year B.A., LL.B. (Hons.) student at the Institute of Law, Nirma University, Ahmedabad] In a recent development, the Securities and Exchange Board of India (SEBI) has mandated foreign portfolio investors (FPIs) who meet the stipulated criteria to demonstrate an unprecedented level of transparency regarding their beneficial ownership structures. This disclosure requires...
India’s Commitment to the Cape Town Convention: A Recent MCA Notification
[Tanay Dubey is a third year B.A., LL.B. (Hons.) student at National Law University Odisha] Through a notification dated 3 October 2023, the Ministry of Corporate Affairs (MCA) exempted transactions, arrangements, or agreements relating to aircraft, aircraft engines, airframes and helicopters from the application of the moratorium clause under section 14(1) of the Insolvency and Bankruptcy Code...
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