Category: Uncategorized
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Choosing between a blurred line and a bright line: SEBI proposes an objective test for “control”
[The following post is contributed by Vinod Kothari of Vinod Kothari & Co. The subject matter of this post is current given that SEBI is in the process of engaging in a public consultation based on its proposals. We are likely to carry a series of posts on this issue so as to capture a varied set…
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SEBI’s Discretion (or Lack Thereof) in Imposing Penalty – A Twist in the Tale
[The following guest post is contributed by Vaneesa Agrawal, Securities Lawyer and former Legal Officer, SEBI. She can be reached at vaneesa.agrawal@gmail.com. A previous post on this Blog relating to the subject matter can be found here.] Background There has been much furore in the corporate world due to the Supreme Court’s order in SEBI…
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Companies (Amendment) Bill 2016: An Analysis
[The following post is contributed by Vinod Kothari of Vinod Kothari & Co.] The Government placed a Bill to amend the Companies Act, 2013 (the “2013 Act”), passed less than 3 years ago, proposing nearly 100 amendments, purported to be for the ease of doing business. Most of the amendments proposed in the Bill are…
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Update: Real Estate (Regulation and Development) Bill, 2016
[The following post is contributed by Bhushan Shah and Labdhi Shah from Mansukhlal Hiralal & Company. The views expressed herein are personal] Parliament of India has passed the much awaited Real Estate (Regulation and Development) Bill, 2016 (Regulation) in the ongoing Budget Session. The Regulation has been enacted with the intention of protecting buyers, bringing transparency…
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Brightline Test for Acquisition of Control
[The following guest post is contributed by Supreme Waskar, who is a corporate lawyer] In the backdrop of ambiguity and concerns in relation to acquisition of ‘control’ of a listed target company, the Securities and Exchange Board of India (“SEBI”) has initiated a consultation process by way of its discussion paper dated March 14, 2016 (“Discussion…
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Companies (Amendment) Bill, 2016 Introduced in Parliament
Last month, the Companies Law Committee (CLC) had submitted its report recommending certain reforms to the Companies Act, 2013. Suggestions were invited from the public through a brief consultation process. Based on these recommendations, the Government has now introduced the Companies (Amendment) Bill, 2016 in the Lok Sabha. The Statement of Objects and Reasons set…
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Ease of Doing Business: merger control rules; vessel sharing agreements
[The following guest post is contributed by Karan Singh Chandhiok, Practice Head, Competition Law and Dispute Resolution, Chandhiok & Associates (New Delhi). He can be reached at karan.chandhiok@chandhiok.com.] Furthering the Government of India’s agenda of relaxing rules related to doing business in India, on 3 and 4 March 2016, the Ministry of Corporate Affairs (MCA)…
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Things, not Words: Disambiguating Intention to Create Legal Relations
(The following guest post is contributed by Shivprasad Swaminathan, who is Associate Professor at the Jindal Global Law School) “We must think things not words, or at least we must constantly translate our words into the facts for which they stand, if we are to keep to the real and the true.” Oliver Wendell Holmes Jr The…
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Individual Triggers for Takeover Offers
[The following guest post is contributed by Jyoti Srivastava, who is a Manager at Vinod Kothari & Co.] The Securities and Exchange Board of India (SEBI) has framed regulations providing for the acquisition of shares and takeover of listed companies known as ‘Takeover Code’ or SEBI (Substantial Acquisition of Shares) Regulations, 2011 (‘SAST Regulations, 2011’).…
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FDI in retail: Rising demand for a ‘level playing field’
This article was jointly authored by Satyajit Gupta (Principal, Corporate M&A, Advaita Legal) and Saurabh Sharma (Associate, Corporate M&A, Advaita Legal) and appeared in the Nov 2015 – Jan 2016 issue of Sameeksha, the firm’s newsletter. Birth of e-commerce business India, as a nation, has gone through a phenomenal change since the advent of…
