[Ayush Kashyap is a IV year law student at Hidayatullah National Law University, Raipur] The Companies (Significant Beneficial Owners) Amendment Rules, 2019 suffer from a problem relating to the computation of significant beneficial ownership and disclosure requirements thereon. With the compliance deadline for these rules already lapsed, a look at the problem is in order. However, before that, a...
Overlooked Policy Concerns at the Intersection of Technology and Competition Law
[Prateek Surisetti is a graduate of the NALSAR University of Law. The author draws ideas for this post from his longer article “Matrimony.com Ltd v Google: an Indian perspective on a world-wide regulatory phenomenon”, (2020) 41 European Competition Law Review 26] While various commentators have analyzed the rather extensive legal issues arising from the 2018 Competition Commission of India...
Setting Aside Arbitral Awards for Defective Reasoning
[Aman Deep Borthakur is a 5th Year B.A. LL.B. student at the National Law School of India University, Bengaluru] The quality of arbitral awards has been a recurring concern leading to the pursuit for professionalisation of arbitration through the 2019 amendments to the Arbitration and Conciliation Act, 1996 (the “Act”). The Supreme Court, in its recent decision in Dyna Technologies v. Crompton...
Impact of Defaults by Stockbrokers: Are Investors the Biggest Losers?
[Shivam Tiwari is a final year law student pursuing B.A. LL.B (Business Law Hons.) at National Law University, Jodhpur. This post was earlier published in the Indian Review of Corporate and Commercial Laws] The Indian financial market has witnessed an increasing number of defaults by stockbrokers in the past few years. The Securities and Exchange Board of India (“SEBI”) has debarred brokers like...
Decriminalisation of Company Law: A Welcome Change
[Arun Kumar is a 4th-year student of NLIU Bhopal] The Company Law Committee (CLC) in its November 2019 report (CLC Report) to the Ministry of Corporate Affairs (MCA) has recommended amendments to 46 penal provisions in the Companies Act, 2013 (CA, 2013). This is in addition to the 16 offences already decriminalised by the Companies (Amendment) Act, 2019 (CAA, 2019). India is making rapid strides...
Section 32A of the IBC (Second Amendment) Bill, 2019: A Step in the Right Direction?
[Khushi Maheshwari is a 3rd year student at the National Law School of India University, Bangalore and Apoorva Satapathy a 4th year student at the National Law University of Odisha, Cuttack] The Insolvency and Bankruptcy Code, 2016 (“IBC”) has been amended thrice since its introduction in 2016. Each amendment has sought to remove bottlenecks in the corporate insolvency process and streamline the...
Arbitrability of Fraud in India: The Rashid Raza test for Complex Fraud
[Anirban Chanda is a 4th year B.A., LL.B. (Hons.) student and Anujay Shrivastava a 5th Year B.A., LL.B. (Hons.) student, both at the Jindal Global Law School. The authors give special thanks to Dr. V. Niranjan and Mr. Anubhav Khamroi for their inputs.] The term “arbitrability” generally connotes the capability of a dispute or classes of disputes that can be settled by an arbitrator.[1] As far as...
Limited Period for Winding up Proceedings during Pendency of a Civil Suit
[Aman Saxena is a practicing advocate at the High Court of Chhattisgarh and a 2018 graduate of the National Law School of India University. The author was one of the counsel retained by the petitioners for this matter] In a judgment delivered by a three-judge bench in Jignesh Shah & Anr. v. Union of India, the Supreme Court laid down the law on the applicability of Article 137 of the...
Commitment and Settlement Clause in the Competition Act: The Right Way Ahead?
[Vijayaditya Reddy and Manjri Singh are III year students at NALSAR University of Law] The Government has announced its plan to introduce a ‘commitment and settlement’ clause in the Competition Act, 2002 to allow for a quick resolution of anti-trust cases outside the otherwise lengthy adjudication process. This amendment is likely to take place in the upcoming winter session of Parliament. This...
Amendments to the Portfolio Management Regulations: A Blessing for Retail Investors
[Aditya Bhayal is a 4th Year, B.A.LLB (Hons.) student at NALSAR University of Law, Hyderabad] On 20 November 2019, the Securities and Exchange Board of India (“SEBI”) introduced certain amendments to the SEBI (Portfolio Management) Regulations, 1993 (the “Regulations”). In doing so, SEBI considered the recommendations of a working group formed for suggesting changes, and comments received from...
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