[Announcement on behalf of the RMLNLU Arbitration Law Blog] About the Organizer Dr. Ram Manohar Lohiya National Law University is a law institute located in Lucknow, India. It is regarded as one of the premier law schools in country. Dr. RMLNLU was established in the year 2005, and since then has been providing undergraduate and post-graduate legal education. It has been ranked among the top law...
Call for Submissions: Trade, Law and Development
[Announcement on behalf of Trade, Law and Development] Founded in 2009, the philosophy of Trade, Law and Development has been to generate and sustain a constructive and democratic debate on emergent issues in international economic law and to serve as a forum for the discussion and distribution of ideas. In keeping with these ideals, the Board of Editors is pleased to announce ‘Trade in Services:...
Delhi ITAT Ruling on Liaison Office and Permanent Establishment
[Dibya Prakash Behera is a 5th Year BA. LLB (Corporate Law Hons.) student at National University of Study and Research in Law, Ranchi] In September this year, the Income Tax Appellate Tribunal, Delhi delivered a landmark judgement in Hitachi High Technologies Ltd v. The Dy. Commissioner of Income Tax. The Tribunal held that the liaison office (LO) of Hitachi High Technologies Singapore Pte Ltd...
Schemes of Arrangement: Setting a Date
[Rudra Shankar is a fifth-year BA LLB (Hons.) student at Symbiosis Law School, Pune] The procedure for mergers and demergers of companies in India is governed by sections 230 to 232 of the Companies Act, 2013. Companies are required to approach the National Company Law Tribunal (NCLT) to obtain its sanction to such schemes of arrangement before they can take effect. Section 232(6) of the Act...
Can IBC be Invoked against a Financial Service Provider?
[Anirudh Agrawal is a fourth year student of Nalsar University of Law, Hyderabad] Recently, a two-member bench of the National Company Law Tribunal (NCLT) in Apeejay Trust v. Aviva Life Insurance Co. India Ltd instituted insolvency proceedings against one of the leading insurance companies of the country – Aviva Life Insurance. Given the exclusion of ‘financial service providers’ from the...
NBFCs and Other Financial Service Providers Now under IBC
[Ashwin Mathew and Bhushan Shah are with Mansukhlal Hiralal & Co, Mumbai] Under the Insolvency and Bankruptcy Code, 2016 (IBC), the corporate insolvency resolution process contained in Part II applies to corporate debtors. A corporate debtor is defined as a “corporate person who owes a debt to any person.” Corporate person is defined to exclude financial service providers. A financial...
Social Stock Exchange – A Breakthrough for the Impact Investing Sector
[Aditya Bhayal is a IV year student at NALSAR University of Law, Hyderabad] In this year’s Budget Presentation, the Finance Minister announced the introduction of the Social Stock Exchange (SSE) in the Indian capital market. Following this, the Securities and Exchange Board of India (SEBI) recently set up a panel to provide recommendations on the working and implementation of this concept. In...
Steering Committee Report on Digital Lending: Issues and Solutions
[Richa Saraf is a Legal Advisor at Vinod Kothari Consultants Pvt. Ltd.] The Department of Economic Affairs has recently released the Report of the Steering Committee on Fintech Related Issues, which discusses the various issues faced by fintech companies. This post seeks to focus on the issues pertaining to online lending, and the recommendations offer by the Steering Committee to address the...
Mandatory Consultation as a Recourse to Settle the Tussle between TRAI and the CCI
[Rohan Bhargava and Nishtha Khandelwal are 3rd year students at Dr. Ram Manohar Lohiya National Law University] With the advancement in the technology and the advent of multiple private players in the telecommunication sector, there arose a requirement for a sectoral regulatory body to deal with various issues arising in the market. In India, the telecom sector is governed by the Telecom...
Roadblocks to CCI’s Green Channel
[Jubair Bhati is a corporate lawyer and Mayank Sen a 5th year B.B.A., LL.B. (Hons.) student at School of Law, Raffles University, Neemrana (Rajasthan)] The Competition Commission of India (“CCI”) has recently notified amendments to its ‘Procedure in regard to the transaction of business relating to combinations Regulations, 2011’ (the “Combination Regulations”). The amendments to the Combination...
Recent Comments