[Khushi Patel and Kritika Jain are 3rd year BBA LLB (Hons.) students at Gujarat National Law University, Gandhinagar] Earlier this month, SEBI proposed amendments to regulation 17(a) of the SEBI (Alternative Investment Funds) Regulations, 2012 (the ‘AIF Regulations’), allowing category II alternative investment funds (AIFs) to meet their 50% unlisted investment requirement by including listed...
Streamlining Insolvency Resolutions: A Critical Look at New Proposals
[Yarabham Akshit Reddy and Chakkapalli Satya Kaushik are 3rd year BA.LLB (Hons) students at Hidayatullah National Law University, Raipur] On 4 February 2025, the Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper proposing 11 significant changes to the regulations under the Insolvency and Bankruptcy Code (IBC). These amendments aim at resolving various operational...
Beyond the Judgement: Examining Mandatory Prior CCI Approval in Insolvency Through a Global Lens
[Purava Rathi and Disha Kothawade are 4th year B.A.LL.B. (Hons.) students at National Law Institute University, Bhopal (NLIU)] The recent Supreme Court ruling in Independent Sugar Corporation Ltd. v. Girish Sriram Juneja and Others (29 January 2025) has settled the legal position that approval from the Competition Commission of India (CCI) must be obtained prior to the approval from the Committee...
GoAir Insolvency: Grounded Fleet and Flying Questions
[Jatin Yadav and Pranav Jain are fourth year B.A. LL.B(Hons.) students at Hidayatullah National Law University, Raipur] On 20 January 2025, the National Company Law Tribunal (NCLT) ordered the liquidation of Go Airlines India Limited (Corporate Debtor) after it filed for voluntary liquidation under section 10 of the Insolvency and Bankruptcy Code, 2016 back in 2023. The Corporate Debtor blamed...
Emergency Arbitration: Will the SIAC’s New Rules Face Judicial Resistance in India?
[Gayatri Kondapalli and Aditi Kanoongo are 4th year B.A., LL.B. (Hons.) students at NALSAR University of Law, Hyderabad] On January 1, 2025, the seventh edition of the Singapore International Arbitration Centre Rules (“SIAC Rules, 2025”) came into effect, introducing significant procedural changes, particularly in the context of emergency arbitration. Although the rules enhance expediency in...
RBI’s Endeavor to Regulate Grey Areas: FOCCs’ Overhaul in Consonance with FDI
[Kartik Mehta and Pranav Jain are fourth-year B.A.,LL.B(Hons.) students at HNLU, Raipur] The Reserve Bank of India (RBI) on 20 January 2025 released the updated master directions for foreign direct investment (FDI) in India, leading to a significant overhaul in the framework for investment through foreign-owned and controlled companies (FOCCs). In summary, a foreign investor can invest in an...
Redefining Oversight: SEBI’s Crackdown on ODIs and the Pursuit of Financial Transparency
[Kashvi is a second-year law student at National Law University Odisha and Divyansh is a third-year law student at National Law School of India University] Offshore derivative instruments (ODIs) have been a point of contention in India’s regulatory landscape for over 15 years. These instruments allow foreign investors to trade Indian securities without the need for registration with the...
Interim Relief under the Arbitration and Conciliation Act, 1996: The Dilemma that Wasn’t
[Saranya Ravindran is a 4th year law B.A., LL.B. (Hons.) student at NALSAR University of Law in Hyderabad] Interim reliefs are crucial to ensure the enforcement of an arbitral award, as the opposing party may no longer possess sufficient assets post-award, rendering enforcement ineffective. Section 9 of the Arbitration and Conciliation Act, 1996, which allows a party to seek interim relief from a...
SAT’s Order in Pegasus: Dispensing with Valuations in Indirect Acquisitions?
[Shalin Ghosh is a 3rd year B.A., LL.B. (Hons.) student at Maharashtra National Law University, Mumbai] Indirect acquisitions involve an acquirer obtaining control in the target company by taking over an intermediary entity which already holds a controlling stake in the target. This transaction structure does not result in any change in the target’s public shareholding. However, such acquisitions...
Beyond the Group of Companies Doctrine: Rethinking Joinder of Non-Signatories
[Shyamal Anand is a Principal Associate at Shardul Amarchand Mangaldas and Co and Divyansh Morolia a IV year student, National Law Institute University, Bhopal] As commentators have observed, arbitration is essentially a private process, having party autonomy and consent at its core. The arbitration tribunal derives its jurisdiction from the agreement of the parties. However, under some limited...
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