Category: Uncategorized
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ESOP Shares and the Computation of Open Offer Triggers
Under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”), an acquirer must make a mandatory open offer to acquire the shares of the remaining shareholders when the acquirer acquires shares (with voting rights) beyond prescribed thresholds. Since the triggers are based on the acquisition of shares with voting rights, questions could…
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Bombay High Court Clarifies Rights of Nominees in Shares
An intricate legal question that has befuddled various courts relates to the conflicts between the rights of nominees and those of successors in the case of ownership of various financial instruments, including shares of a company. As regards shares, the issue came to the fore in 2010 in the case of Harsha Nitin Kokate v.…
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Towards a Conducive Framework for REITs – Recent SEBI Amendments
[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,…
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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] Centre for Corporate Research Law Journal (CCRLJ), ISSN No. 2348-6384, an open access, annual, peer reviewed journal is an initiative by CENTRE FOR CORPORATE LAW STUDIES at Institute of Law, Nirma…
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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…
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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…
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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 relationships@novojuris.com] 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…
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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,…
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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 Shikhabansal2610@gmail.com] 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…
