Category: Uncategorized

Ascertaining Legal Ramifications of Compensation Agreements- Part II (Statutory Approach)

April 17, 2017

[The following post, the second in a series, is contributed by Rahul Sibal, a third year student of NALSAR Hyderabad. In the series, he analyzes possible liabilities that may arise with respect to compensation agreements from different perspectives. He can be contacted at sibbalrahul@gmail.com. In this second post, he attempts to ascertain the liability of…
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Ascertaining Legal Ramifications of Compensation Agreements – Part I (Common Law Approach)

April 16, 2017

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Calls for Socially Responsible Investing

April 15, 2017

The concept of socially responsible investing (SRI) suggests that investors would invest in companies that are acting in socially and environmentally responsible ways, and that such investors would exit from investments in businesses that do not comport with environmental, social and governance (ESG) criteria. Such investors maintain a balance between financial sustainability and social impact…
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NCLT Ruling under Section 8 of the Insolvency and Bankruptcy Code, 2016

April 14, 2017

[Guest post by Shayonee Dasgupta, who is a project finance lawyer with a leading law firm in India] As the Insolvency and Bankruptcy Code, 2016 (IBC) is in the process of being implemented, the provisions relating to the initiation of insolvency resolution process by an operational creditor were recently examined by the Mumbai bench of…
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Stewardship Code for Insurance Companies

April 14, 2017

Historically, the passivity of institutional investors in India has led to less than significant monitoring of managements and controlling shareholders of companies. However, as I had noted in an earlier paper, the Indian markets began witnessing greater levels of shareholder activism in more recent years. Among the regulatory efforts that have engendered activism, one relates…
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Delhi High Court on Put Options and Guarantees under FEMA

April 13, 2017

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Supreme Court on Force Majeure Clauses in Power Purchase Agreements

April 12, 2017

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The Supreme Court on the SAT’s jurisdiction over SEBI Circulars

April 11, 2017

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Has SEBI Altered Its Position on the Question of “Control”?

April 10, 2017

The issue of what amounts to “control” for purposes of the SEBI Takeover Regulations has been a vexed one, and has eluded any form of resolution for nearly 15 years. In a paper titled “The Nature of the Market for Corporate Control in India”, I have sought to summarize the present position (footnotes omitted): Under…
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SAT on Holding Period for Inter Se Promoter Transfers

April 10, 2017

Mandatory takeover offer requirements are subject to certain exemptions. One such exemption is when there is an inter se transfer of shares among promoters of a company, so long as certain conditions are satisfied. One such condition, stipulated in regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the “Takeover Regulations”),…
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