[The following guest post is contributed by Sumit Agrawal, Partner, Suvan Law Advisors and Arka Saha, a final year law Student from National Law University, Orissa. Views are personal] Although the capital and commodities market regulator, the Securities and Exchange Board of India (SEBI), had introduced Real Estate Investment Trusts (REITs) Regulations on September 26, 2014, REITs are yet to...
Call For Papers 2016: Centre For Corporate Research Law Journal
[The following announcement is posted on behalf of the Centre for Corporate Research Law Journal published by the Institute of Law, Nirma University]...
Companies Act, 2013: Schemes and Winding-Up Provisions Operational
Although the Companies Act, 2013 was enacted more than three years ago, its provisions have been brought into effect in a phased manner. One of the important chunks of the new legislation relating to schemes of arrangement and winding up were yet to be brought into force. However, this position has since changed because the Ministry of Corporate Affairs (MCA) issued a notification on December 7...
Disputes Arising out of Trusts Non Arbitrable in India
[The following guest post is contributed by Bhushan Shah & Anchal Singh from Mansukhlal Hiralal & Company. The views expressed in the post are personal.] The Indian Trusts Act, 1882 Act (“Trusts Act“), which is a comprehensive code, broadly deals with the manner of creation of trusts, the rights, powers and duties of trustees, breach of trust and remedies. In Vimal Shah v...
Is the Doctrine of Ultra Vires Applicable to LLPs?
[The following guest post is contributed by Saumya Kakkar, Associate and Govinda Toshniwal, Senior Associate, both with NovoJuris Legal. They can be contacted at [email protected]] The objects clause of the Memorandum of Association (“MOA”) of a company enlists and defines the main and the ancillary aims and objects for which the company is incorporated. Any activity or...
US Supreme Court Clarifies Tippee Liability in Insider Trading
The law on insider trading has received considerable attention in the United States (US) in recent years. At the same time, the law in the US is quite narrow compared to most other jurisdictions because liability for insider trading arises only if the person trading owes a fiduciary duty to the company and its shareholders, which has subsequently been extended to a duty owed to the source of the...
Corporate Insolvency Resolution Process under the Bankruptcy Code: Relevant Provisions Notified
[The following guest post is contributed by Shikha Bansal, under the aegis of Vinod Kothari & Company. She can be contacted at [email protected]] The Ministry of Corporate Affairs, by way of Notification no. S.O. 3594(E) dated 30 November 2016, has notified 1 December 2016 as the date for commencement and enforcement of certain core sections of the Insolvency and Bankruptcy Code...
Comparative Paper on Corporate Purpose
Professor Afra Afsharipour has posted on SSRN a paper titled “Redefining Corporate Purpose: An International Perspective”, the abstract of which is as follows: Over the past decade, corporate law in India has begun a reform journey with important implications for not only corporate governance, but also for deeper questions about the purpose of the corporation and beneficiaries of the corporate...
Protection of Financial Consumers under the Indian Financial Code
[The following guest post is contributed by Sharada Krishnamurthy, LLM student, National University of Singapore and Gokul Ashok Thampi, final year BSL LLB student, ILS Law College, Pune] Introduction Existing financial regulation in India has been amended multiple times resulting in inconsistencies, regulatory gaps and overlaps. There are several regulators with overlapping domains, thereby...
Arbitrability of Fraud: Is Every Fraud Arbitrable?
[The following guest post is contributed by Bhushan Shah & Jogan Punjabi from Mansukhlal Hiralal & Company. The views expressed in the post are personal] Arbitrability of fraud has been a highly contested issue in the field of alternative dispute resolution. The Supreme Court in N Radhakrishnan v Maestro Engineers and Ors (“Radhakrishnan Case“) held that cases where...
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