[Aamir Kapadia and Avinash Kotval are penultimate and final year BBA LL.B. (Hons.) student at Jindal Global Law School, Sonipat, respectively] On August 25, 2023, the Securities and Exchange Board of India (‘SEBI’) released a consultation paper on ‘Association of SEBI Registered Intermediaries/Regulated Entities with Unregistered Entities (including Finfluencers)’. The purpose behind the...
Receipt of Demand Notice under IBC: Whether Price Sensitive Information?
[Ravishekhar Pandey and Amarpal Singh Dua are with MDP & Partners, Mumbai] The Securities Exchange Board of India (“SEBI”) on 12 July 2023 passed an order relating to the scrip of Shilpi Cable Technologies Limited (“STCL”) imposing penalty on the Managing Director (“MD”) as well as the Compliance Officer for violations of securities laws. In the order, the Adjudicating Officer (“AO”)...
Unwinding and Rewinding the Clock: Revisiting Interim Reliefs under Section 9 of the Arbitration Act
[Sumit Chatterjee is an Advocate at Arista Chambers, Bangalore] Interims reliefs under the Arbitration and Conciliation Act, 1996 (“Act”) underwent a significant change following the Arbitration and Conciliation (Amendment) Act, 2015 (“2015 Amendment”). Under the Act, parties can approach the Court under section 9 of the Act to seek interim reliefs before, or during the arbitral proceedings, or...
Hybrid Settlements and Presumption of Innocence: The Conundrum of Verdict Under Veil
[Ishita Mishra is a fourth-year B.B.A. LL. B (Hons.) student at Symbiosis Law School, Pune] The European Commission (‘Commission’) issued its decision to establish the participation of Barclays, Deutsche Bank, RBS, and Société Générale in a cartel in the market for Euro Interest Rate Derivatives (‘EIRD’). The decision was adopted through a settlement procedure wherein the banks received a 10%...
Evaluating India’s Regulatory Regime for ESG Rating Agencies
[Shouvik Kumar Guha is an Associate Professor of Law and Sourav Paul a fourth year undergraduate student, both at the West Bengal National University of Juridical Sciences, Kolkata] On July 3, 2023, the Securities and Exchange Board of India (‘SEBI’), introduced the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2023 (‘Regulation’) to amend the Securities...
ITC-J&J Deal: Unravelling the Complexities of NCLAT’s Decision in the Merger Control Regime
[Aryan Birewar, Rishabh Guha, and Dhanshitha Ravi are 4th Year BBA LLB (Hons.) students at Symbiosis Law School, Pune] On 27 April 2023, the National Company Law Appellate Tribunal (“NCLAT”) passed an Order (“the Order”) favouring ITC Pvt. Ltd., reversing the penalty that was levied on it by the Competition Commission of India (“CCI”) for not notifying a combination under section 43A of the...
Company’s Interest vs Duty to Protect the Environment – A Director’s Balancing Act
[Abhijnan Jha is a partner and Urvashi Misra is a senior associate at AZB & Partners, New Delhi] In April 2022, António Guterres, United Nations Secretary-General, drew the world’s attention to the alarming findings of the Intergovernmental Panel on Climate Change in its third report. Concerned that major emitters were not taking requisite steps to fulfil their climate pledges, the Secretary...
Rajasthan’s Gig Workers’ Legislation: Paving the Way for Transformation?
[Esha Rathi is a final year B.B.A. LL.B. (Hons.) student at Jindal Global Law School.] Rajasthan has taken the lead as the first Indian state to regulate and support the burgeoning gig economy workforce through a comprehensive legal framework titled “Rajasthan Platform Based Gig Workers (Registration and Welfare) Act, 2023” (Act), the Bill for which was brought before the Rajasthan Legislative...
Supreme Court Holds Maternity Benefits Could Extend Even Beyond Contractual Term
[Lavanya Chawla is an Associate at J-Law Offices, New Delhi.] A three Judge bench of the Supreme Court in Dr. Kavita Yadav v The Secretary, Ministry of Health and Family Welfare Department & Ors (17 August 2023) held that if a woman has worked in an establishment for 80 days, she would be eligible for full maternity benefits, even if such benefits exceed the term of contract. Facts An...
Navigating the Regulatory Landscape: ICAI and CCI at Loggerheads over CPE Program
[Shruti Srivastava is a fourth-year law student from National Law University and Judicial Academy, Assam] Delegated legislation is a vital framework that allows specialized bodies like the Institute of Chartered Accountants of India (ICAI) to regulate their respective professions effectively. As a statutory body, the ICAI derives its regulatory authority from the Chartered Accountants Act 1949...
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