Category: Uncategorized
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2nd GNLU Moot on Securities and Investment Law 2016
[The following announcement is posted on behalf of the Organising Committee of the GNLUMSIL] [Sep 09-11]: Register by July 20 (Revised schedule) ABOUT After successfully hosting the inaugural edition of the GNLU Moot on Securities and Investment Law (GNLUMSIL) in 2015, we would like to invite participation for the 2nd edition of GNLUMSIL, 2016. The…
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Supreme Court Resolves Conflict Between Companies Act and SICA
[The following guest post is contributed by Aditi Jhunjhunwala, who is a partner at Vinod Kothari & Co. The author can be contacted at aditi@vinodkothari.com.] In a recent ruling in the case of Madura Coats Limited v. Modi Rubber Ltd. & Anr., the question before the Supreme Court on appeal was: where an order for…
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An Update on the FDI Reforms
[The following guest post is contributed by Bhushan Shah and Neha Lakshman of Mansukhlal Hiralal & Company. The views expressed are personal.] After significant changes in the Foreign Direct Investment (FDI) policy in November 2015, the Union Government through Press Note No. 5 (2016 Series) issued on 24 June 2016[1] announced further important changes to…
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Scheme of Amalgamation: Leeway on Appointed Date and Effective Date
[The following guest post is contributed by Bhavika Gohil, who is working with a multinational consulting firm in Mumbai] The Madras High Court by way of its order dated 6 June 2016 (accessible through Judis) permitted petitions filed by Equitas Micro Finance Limited (“Transferor Co. 1”), Equitas Housing Finance Ltd. (“Transferor Co. 2”) and Equitas…
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Analyzing RBI’s Scheme on Structuring Big Ticket Stressed Assets
[The following guest post is contributed by Harsh Loonker, who is a 4th year student at the Jindal Global Law School, Sonipat] Introduction India’s central banking institution, the Reserve Bank of India (RBI), has issued guidelines on a Scheme for Sustainable Structuring of Stressed Assets.[1] These guidelines would mark a significant shift in reactive measures…
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Venture Debt in India
[The following guest post is contributed by Dhanush M, who is a student at the Jindal Global Law School] It is an established convention that “Debt and startups don’t mix”. This could be attributed to the fact that the business models of banks and non-banking finance companies (NBFCs) who are the primary lenders in debt…
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GAAR and Tax Treaties
[The following guest post is contributed by Dr. Nigam Nuggehalli, who is an Associate Professor at Azim Premji University, Bangalore] The General Anti-Avoidance Rules (GAAR), to be in effect from April 1, 2017, were introduced by the government in a fit of frustration. The government found that many profitable companies were successful in avoiding tax…
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Salient Features of CCI’s Order Approving PVR’s Acquisition of DLF’s Film Exhibition Business
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Guest Post: Independence and Impartiality of Arbitrators: The Applicability and Scope of amended Section 12
(The following post is contributed by Shubham Jain, who is a student at the National Law School of India University, Bangalore) Introduction The enactment of the Arbitration and Conciliation (Amendment) Act, 2015 (“the amendment”) has brought a slew of changes in the two decade old Arbitration and Conciliation Act, 1996 (“the Act”). Based on the…
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Disgorgement of profits – profits made in violation of SEBI directions vs. profits made in violation of law
In perhaps a first, SEBI has ordered impounding of profits that were made through legitimate and non-manipulative trades though in violation of SEBI directions not to trade. An earlier order against certain persons had “prohibited them from buying, selling or dealing in the securities market, directly or indirectly, till further orders.”. While such directions were…
