[Shubham Gandhi and Tanish Gupta are IV year and III year students respectively at National Law University, Jabalpur] The Competition Commission of India (‘CCI’) in the recent case of In Re: Vaibhav Mishra v. Sppin India Pvt. Ltd.(‘Shopee case’), has dismissed the allegation regarding the exercise of predatory pricing carried out by ‘Shopee’, an online marketplace. The CCI, while dismissing the...
Merger Thresholds under the Draft Competition (Amendment) Bill, 2020: A Digital Perspective
[Shrey Aggarwal is a 4th Year B.A. LL.B (Hons.) Student at Jindal Global Law School, O.P. Jindal Global University, Sonipat, Haryana] The Draft Competition (Amendment) Bill, 2020 (“Amendment Bill”) has proposed to introduce substantial changes in the Competition Act, 2002 (the “Act”) through several amendments. One change in particular, being the focus of this analysis, is the addition of two...
Zee v. Invesco: Jurisdiction Battle between the High Court and the NCLT
[Neharika Chhabra and Gourav Kathuria are fourth-year B.A. LL.B (Hons.) students at NALSAR University of Law] On 22 March 2022, a division bench of the Bombay High Court in Invesco Developing Markets Fund v. Zee Entertainment Enterprises overturned the judgment of a single judge. It held that section 430 of the Companies Act (the ‘Act’) bars the High Court from adjudicating matters arising under...
The Applicability of Insider Trading Regulations to Pooled Investment Vehicles
[Sikha Bansal is a Partner and Aisha Begum Ansari a Manager at Vinod Kothari & Co] From a surveillance and compliance perspective, the SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT Regulations’) focus on designated persons (DPs). Trading in securities of the listed company by DPs is sought to be “regulated, monitored and reported” by the Code of Conduct (regulation 9 read with...
EIG (Mauritius) v. McNally Bharat Engineering: Taming the Unruly Horse
[Pratyush Singh and Dhawal M are second year students at NLSIU, Bangalore] An arbitral award can be rejected on grounds of violating the public policy of the country where it has to be enforced under the New York Convention, 1958. However, “public policy” has not been defined by the Convention. This has led to much uncertainty across jurisdictions as every country applies their own standards...
Asymmetric Substitution vis-a-vis Relevant Market: A Conundrum Unresolved
[Yatin Gaur is a 3rd year B.A. L.L.B (Hons.) student and Priyal Jain a 4th year B.A. L.L.B (Hons.) student, both at Hidayatullah National Law University, Raipur] The concept of ‘relevant market’ is one of the most essential analytical tools employed by the Competition Commission of India (CCI) to analyse competition law concerns. However, defining a term in the statute is just a small step...
Supreme Court Reiterates its Limited Jurisdiction to Interfere with Contractual Terms
[Raghav Bhatia is an Advocate practising at the Supreme Court of India] Recently, in Indian Oil Corporation Ltd. v. Shree Ganesh Petroleum Rajgurunagar, the Supreme Court of India (“Supreme Court”) has reiterated that courts and arbitral tribunals have limited jurisdiction when it comes to interfering with the terms of a contract. Background The Indian Oil Corporation Ltd. (“lessee”) and M/s...
Rising Haircuts: A Death Knell for the IBC?
[Simran Lunagariya and Priyanshi Jain are fourth-year B.Com LL.B. (Hons.) students at Nirma University, Ahmedabad (Gujarat)] A competent insolvency procedure assists creditors and corporate debtors (“CDs”) in recognizing whether the stressed company is approaching financial collapse and in finding an amicable solution for the same. To this end, it is important that the insolvency procedure is...
Leniency Applicant Challenging the DG Report: Need for Clarity?
[Shubhankar Tiwari is a 4th year B.A. LL.B. (Hons.) student and Dhaval Sheth a 2nd year B.A. LL.B. (Hons.) student, both at National Law University, Delhi] Leniency application is an emerging concept within the Indian competition law jurisprudence. Internationally, it has developed as an integral part of the cartel whistleblower protection programme. This programme protects enterprises and...
The Dichotomy of Special Courts: Contrasting the Companies Act and the IBC
[Rhythm Buaria and Payal Chandra are advocates practicing before courts and tribunals in Delhi] Recently, a Single Judge of the Bombay High Court concluded, in Satyanarayan Bankatlal Malu v. Insolvency and Bankruptcy Board of India, that offences under the Insolvency and Bankruptcy Code, 2016 (“IBC”) can only be tried by the Metropolitan Magistrate or Judicial Magistrate First Class exercising...
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