[Adesh Sharma and Saksham Shrivastav are 3rd year B.A. LL.B. (Hons.) students at National University of Study and Research in Law, Ranchi] In an attempt to regulate the securities market in a more sophisticated direction and open up newer avenues, the Reserve Bank of India (‘RBI’) on June 8,2020 introduced the ‘Draft Framework for Securitisation of Standard Assets’ (‘Framework’)...
Call for Papers | National Law School of India Review
[Announcement on behalf of the National Law School of India Review] National Law School of India Review (NLSIR) is inviting contributions for its forthcoming Volume 33, Issue 1. About NLSIR is the flagship law journal of the National Law School of India University, Bangalore. In its 33rd year now, the NLSIR is a bi-annual, student-edited, peer-reviewed law journal, which holds the distinction of...
Call for Submissions: NLUJ Law Review Blog
[Announcement on behalf of the NLUJ Law Review Blog] NLUJ Law Review Blog (“Blog”) welcomes all kinds of submissions, including (but not limited to) articles, research pieces, opinions, case comments and short notes on any contemporary subject matter related to all the areas of law on a rolling basis. Authorship Co-authorship up to two authors is allowed. Refrain from mentioning the name...
CCI’s Decision to Eliminate Non-Compete Restrictions in Combinations
[Vishal Rajvansh is a third year student at National University of Studies and Research in Law, Ranchi] The Competition Commission of India (“CCI”) has released a press note dated 15 May 2020 seeking public comments regarding the examination of non-compete restrictions under the regulation of combinations. Notably, the CCI had earlier mandated the parties to a combination to furnish information...
Corporate Activism: Once Again Questioning the Purpose of a Company
[Rajat Maloo is a III year B.A., LL.B. (Hons.) student at the National Law School of India University, Bangalore] Recently, large corporations such as Unilever, Johnson & Johnson, and Facebook amongst several others have been expected to fulfil a different kind of social responsibility. Unilever and Johnson & Johnson were some of the few companies who have either discontinued or altered...
Identical Bids as Evidence of Bid Rigging: Reconciling Excel Crop Care and Rajasthan Cylinders
[Soumil Jhanwar is a 4th year B.A. LL.B. (Hons.) student at the National Law School of India University, Bengaluru] To establish bid rigging under section 3(3)(d) of the Competition Act, 2002 one must prove that the bidders had entered into an “agreement”, which has the effect of manipulation of bids. As per section 2(b) of the Act, an agreement need not be formal or written, and can be in the...
Relief Defendants in Recovery Proceedings: Implications of the Dave Committee’s Suggestion
[Pranav Mihir Kandada and Anuraag Bukkapatnam are 3rd year law students at NALSAR University of Law, Hyderabad] On June 16, 2020, SEBI notified the report of the High Level Committee under the chairmanship of Justice (Retd.) Anil R. Dave on the “Measures for Strengthening the Enforcement Mechanism of the Board and Incidental Issues”. The Committee examined the present securities laws and noted...
German Court’s Antitrust Decision Rules against Data Collection by Facebook
[Ridhi Arora and Hitoishi Sarkar are II Year B.A. LL.B (Hons.) students at Gujarat National Law University] On 23 June 2020, the Federal Court of Justice (Germany) provisionally confirmed charges of abuse of dominant position against Facebook. The judgment comes a year after the Federal Cartel Office (Germany) found Facebook guilty of exploiting its dominance to force users to share data from...
Decoding the Myths of Asset Value Maximisation in Insolvency
[Mudit Jain is a penultimate year B.A. LL.B. (Hons.) student at the National University of Advanced Legal Studies, Kochi] The Insolvency and Bankruptcy Code, 2016 (“IBC”) envisages ‘asset value maximisation’ under the long title of the statute. This has been amply litigated before being settled that the role of the committee of creditors (“CoC”) in a corporate insolvency resolution process...
A Banker’s Tax: Accepting the Inevitability of Bailouts and Enhancing Government Response
[Karan Kamath is a 2020 B.A. LL.B. (Hons.) graduate from Symbiosis Law School, Pune] Since the 2008 financial crisis, regulators around the world have made regulations more stringent to prevent, inter alia,bank collapses and resultant bailouts. Governments maintain that bailouts are not something they wish to repeat. However, bailouts have been resorted to rather commonly. A 2016 economics...
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