[Tarun Toprani is an associate and Sumit Agrawal a partner at Regstreet Law Advisors. The authors can be reached at [email protected]] The preamble of the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) begins by stating that it is “[a]n Act to provide for the establishment of a Board to protect the interests of investors in securities…”. In fact, Section 11 of the SEBI Act, which...
Labour Law and the Gig Economy: Towards a Hybrid Model of Employment
[Sahaj Mathur is a IV year BA. LLB Student at the National University of Juridical Sciences, Kolkata] The status of gig workers has become a cause of growing concern in recent months. Niti Aayog’s report ‘India’s Booming Gig and Platform Economy’ estimates that nearly 23.5 million workers will be engaged in the gig economy by 2029. However, the report also notes how the gig economy has become...
Captives in India: An Analysis of Proposed Changes to the Insurance Act, 1938
[Bharat Harne is a IV year student at the National Law School of India University, Bangalore] On 3 December 2022, the Department of Financial Services invited comments on a host of proposed amendments to the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, of 1999. One of the proposals is to add a definition of ‘captive insurer’ by adding section 2 (4B) to the...
Challenging Bias in Indian Arbitration: An Illusory Remedy?
[Umang Bhat Nair is a 5th year student at NALSAR University of Law, Hyderabad] The Delhi High Court’s decision in Union of India v. Reliance Industries Ltd. (9 December 2022) added to an already long list of cases (for e.g., see here, here and here) holding that section 14 of the Arbitration & Conciliation Act [“A&C Act”] cannot be resorted to for challenging an arbitrator’s ruling on...
Call for Posts: Corporate Law Board of All India Legal Forum
[Announcement on behalf of the Corporate Law Board of the All India Legal Forum] The Corporate Law Board is an autonomous board of the All India Legal Forum. It is an initiative to engage a discussion around corporate law and policy in India and across the globe. The Board adopts a cross-jurisdictional and multi-disciplinary approach in analysing the various corporate law issues, regulatory...
What the ODI-OPI Holds for Indian Entities
[Hrithik Merchant is a 4th year law student pursuing BA LLB (Hons.) from National Law School of India University, Bangalore] The Reserve Bank of India (“RBI”) reported that between April 2000 and August 2022 there was a financial commitment (“FC”) of overseas investment issued to the tune of USD 614 billion. Overseas investment has been accretive with Indian ventures attempting to access global...
Call for Papers: Journal on Governance
[Announcement on behalf of Journal on Governance] National Law University, Jodhpur is an institution of national prominence established under the National Law University, Jodhpur Act, 1999 by Rajasthan State Legislation. The University is established for the advancement of learning, teaching, research and diffusion of knowledge in the field of law. About the Journal The Centre for Corporate...
Digital Personal Data Protection Bill vis-à-vis GDPR
[Raj Shekhar and Aman Yuvraj Choudhary are 4th year and 3rd year law students pursuing BA LLB (Hons.) from National University of Study and Research in Law, Ranchi] On 18 November 2022 the Ministry of Electronics and Information Technology (MeitY) published the draft Digital Personal Data Protection Bill, 2022 (DPDP Bill), which seeks to replace the earlier Personal Data Protection Bill (PDP...
Enforcement of Security Interest Against Borrower is Non-Arbitrable
[Suradhish Vats is an Associate at OliveLaw] In the recent case of Bell Finvest India Limited v. AU Small Finance Bank Limited, the Delhi High Court had the opportunity to resolve and clarify the position concerning section 11 of the Arbitration and Conciliation Act, 1996 (‘A&C Act’) and section 11 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security...
Macro-Stress Testing for Climate Risks and Green Finance Regulation
[Manal Shah is a policy researcher in the field of Indian financial regulation] A recent study has ranked India as seventh most affected country by extreme weather events such as floods, storms and heatwaves. Another study conducted by the Council on Energy, Environment and Water (CEEW) indicates that 75% districts and half of India’s population are vulnerable to extreme climate events. In such a...
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