[Harsh N Dudhe & Pranay Bhardwaj are III year BA LLB (Hons) students at NALSAR, Hyderabad. The authors would like to thank Dr. Akshaya Kamalnath for her comments on the post] On August 6, 2021, the U.S Securities and Exchange Commission (SEC) approved a proposal by the Nasdaq Stock Market LLC (Nasdaq), which aims to enhance the corporate board diversity for Nasdaq-listed companies. This...
Commercial Wisdom vs. Judicial Wisdom: An Ongoing Debate of Primacy
[Kartik Singh is a 4th year B.A., LL.B. (Hons.) student at National Law University, Odisha, Cuttack] The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted with the objective of providing a time-bound insolvency resolution mechanism to a financially stressed company and saving it from liquidation. For the said purpose, the committee of creditors (CoC) comprising financial creditors is at the...
Green Bonds in India: The Present and What Next
[Naga Sai Srikar HK is a fifth-year B.A., LL.B. (Hons.), student at School of Law, CHRIST (Deemed to be University) Bangalore] Green bonds (GBs) have lately gained prominence globally and are being seen as a lucrative opportunity by both investors and corporations looking at debt financing options. The Covid-19 pandemic has nudged policy makers across the world to rethink on priorities and adopt...
Compounding under Section 24A of SEBI Act: Charting A New Course
[Navya Saxena and Aadya Bansal are 4th-year B.A., LL.B. (Hons.) students at National Law Institute University, Bhopal] In Prakash Gupta v. Securities and Exchange Board of India (26 July 2021), the Supreme Court has addressed the question of whether the Securities and Exchange Board of India (“SEBI”) has veto power over compounding of offences under the Securities and Exchange Board of India Act...
Hanging by a Thread: The Saga of Interest-Free Loans under the IBC
[Ojaswi Shankar is with ICICI Bank in Mumbai] In Orator Marketing Private Limited v. Samtex Desinz Private Limited (26 July 2021), the Supreme Court held that a person who has advanced an interest-free loan to a corporate entity would be a ‘financial creditor’ and, hence, competent to initiate a corporate insolvency resolution process (“CIRP”) under section 7 of the Insolvency and Bankruptcy...
Qualitative Tests for Accredited Investors: A Comparative Study
[Mehek Wadhwani and Rishi Raj are third-year students of B.A. LL.B. (Hons.) at MNLU Aurangabad] The Securities and Exchange Board of India (SEBI) recently ushered in the concept of a new class of investors in the Indian securities market, termed as accredited investors or qualified investors or professional investors. On 3 August 2021, the SEBI (Alternative Investment Funds) Regulations, 2012...
Recourse to Appropriate Proceedings against Personal Guarantor of Corporate Debtor
[Akansha Uboveja is a fifth-year B.A., LL.B. (Hons.), student at Hidayatullah National Law University, in Raipur] Recently, the National Company Law Appellate Tribunal (NCLAT) in Nitin Chandrakant Naik v. Sandhiya Industries LLP clarified the position of personal guarantors in corporate insolvency resolution proceedings (CRIP) initiated against a corporate debtor under the Insolvency and...
Call for Papers: HNLU Conference on “Calibrating Corporate Governance in New Economy”
[Announcement on behalf of Hidayatullah National Law University, Raipur] Established in 2003, Hidayatullah National Law University, Raipur is one of the leading law schools in the country. In a short span of time, HNLU has carved out a niche in the realm of legal education across India and the legacy is soaring towards newer heights day by day. Named after the great legal luminary Justice...
‘Ordinary Course of Business’ Defence under the IBC: Origin and Scope
[Saai Sudharsan Sathiyamoorthy is an advocate practising at the Madras High Court and is one of the Chief Specialist Editors of Wadhwa Law Chambers Guide to Insolvency & Bankruptcy Code (2nd edition, 2021). He can be contacted at [email protected].] One way that the Insolvency & Bankruptcy Code, 2016 (“the Code”) seeks to secure pro rata distribution among similarly placed...
Retention of Title Clauses – An Indian Perspective
[Malavika Devaya is an associate at Poovayya & Co., Advocates & Solicitors.] A retention of title (ROT) clause is a provision that may be included in commercial contracts and purports to protect the seller’s interests by maintaining title to the goods with the seller until the occurrence of a future event, usually the receipt of payment. These clauses are, however, not very commonly...
Recent Comments