Category: Uncategorized
-
We’ve Moved! Launch of Our New Website
[Posted by Umakanth Varottil] We are pleased to announce the launch of our new website: https://indiacorplaw.in/, which is now live. This is intended to improve the experience of readers. Do explore the navigation button on the top right hand side for more content. Given the tremendous increase in guest contributions, we will shortly be devising…
-
The Companies Amendment Bill, 2017: Proposed Changes to Section 185
[Posted by Umakanth Varottil] [Guest post by Amitabh Robin Singh, who is a corporate lawyer practising in Mumbai] With the Companies Amendment Bill, 2017 (“Amendment“) being passed by the Lok Sabha and sent to the Rajya Sabha, it would be pertinent to discuss one of the major changes proposed by the Amendment. The Amendment proposes…
-
SEBI Requires Disclosure of Loan Defaults
[Posted by Umakanth Varottil] Over the last couple of years, there has been a steady regulatory move to create some connections between the banking system and the capital markets in order to address cases of loan defaults by companies, especially those listed on the stock exchanges. Take the case of wilful defaulters, who are effectively…
-
NCLT Order Admitting Essar Steel Insolvency
[Posted by Umakanth Varottil] In one of the first high profile cases under the Insolvency and Bankruptcy Code, 2016 (the “Code”), the Ahmedabad Bench of the National Company Law Tribunal (“NCLT”) yesterday issued its order admitting the insolvency petition brought by the State Bank of India (“SBI”) and Standard Chartered Bank (“SCB”) as financial creditors…
-
Supreme Court’s Centrotrade Judgement: An Uncertain Celebration?
[Posted by Umakanth Varottil] [Guest post by Shashank Chaddha, IV Year | B.A.LL.B (Hons.) student at the National Law Institute University, Bhopal] Last year, with the Supreme Court of India upholding the validity of a two-tier arbitration clause in Centrotrade Minerals & Metal Inc. v. Hindustan Copper Ltd., 2017 (2) SCC 228 (the ‘Centrotrade’), there…
-
Call for Papers: Indian Competition Law Review
[Posted by Umakanth Varottil] [The following announcement is posted on behalf of the Indian Competition Law Review] The Indian Competition Law Review (“ICLR”) is the flagship annual journal of the Centre for Competition Law & Policy (CCLP), published under the aegis of National Law University Jodhpur, (India). ICLR strives to achieve scholarly excellence with the…
-
Call for Papers: The National Law School of India Review
[Posted by Umakanth Varottil] [The following announcement is posted on behalf of the National Law School of India Review (NLSIR)] About NLSIR The National Law School of India Review (NLSIR) is now accepting submissions for its upcoming issue – Volume 30(1). The NLSIR is the flagship law review of the National Law School of India…
-
What Should the Insolvency and Bankruptcy Code for SMEs be Like?
[Posted by Umakanth Varottil] [Guest post by Rishi A, who is a Legal Analyst at Spotdraft.com] The Insolvency and the Bankruptcy Code (“IBC”), 2016 was a much-needed legislation in India for hastening the process of bankruptcy filing and to provide for a framework that would incorporate globally recognised standards for both creditors as well as…
-
SAT Affirms SEBI’s Power to Lift the Corporate Veil
[Posted by Umakanth Varottil] In an order passed yesterday in Sahara Asset Management Company P. Ltd v. Securities and Exchange Board of India, the Securities Appellate Tribunal (“SAT”) considered an appeal from an order of the Securities and Exchange Board of India (“SEBI”) in which SEBI had found that Sahara India Financial Corporation Ltd. (“Sahara…
-
Supreme Court on Settlement of Insolvency Proceedings
[Posted by Umakanth Varottil] [Guest post by Aayush Mitruka, a lawyer based in Delhi] The Supreme Court in a decision this week in Lokhandwala Kataria Construction Limited v Nisus Finance And Investment Managers, LLP allowed a settlement by entering into consent terms by the parties after the insolvency proceedings under section 7 of the Insolvency…