Category: Uncategorized
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Sale of an “Undertaking” in Company Law
[This post is contributed by Nitu Poddar of Vinod Kothari & Co. The author can be contacted at nitu@vinodkothari.com] Company law imposes certain restrictions on the general powers of directors. Pursuant to section 180 of Companies Act, 2013 (“Act, 2013”), the board of directors of a company can exercise certain powers only with the consent…
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A Close Look At India’s New Arbitration Ordinance
[The following guest post is contributed by Sulabh Rewari, Partner at Keystone Partners and Poorvi Satija, LL.M. Candidate 2016 (Expected), Harvard Law School. Views expressed are of the authors alone.] The Indian Government has recently promulgated the Arbitration and Conciliation (Amendment) Ordinance, 2015 (“Ordinance”). The key amendments made by the Ordinance and their impact is…
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Major FDI Reforms: A Snapshot
[The following guest post is contributed by Bhushan Shah & Labdhi Shah from Mansukhlal Hiralal & Company] The Government last week issued a Press Note announcing reforms (“Reforms“) in 15 major sectors in respect of Foreign Direct Investment (FDI). The objective of the Government is to ease the process of foreign investments in the country and bring…
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Bankruptcy Code on Non-Corporate Insolvency and Bankruptcy
[The following guest post is contributed by Vinod Kothari & Niddhi Parmar of Vinod Kothari & Co] The Bankruptcy Laws Reforms Committee (“BLRC”) presented its final report (“Final Report”) to the Government of India on November 4, 2015. This Final Report is divided into 2 parts, i.e. Volume I and Volume II comprising the text…
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Papers on M&A Agreements, Woman Director
Professor Afra Afsharipour has posted on SSRN two papers that may be of interest to readers. They are listed below along with abstracts. Legal Transplants in the Law of the Deal: M&A Agreements in India This chapter reviews the transformation of merger and acquisition (M&A) transactions in India. Due to globalization and economic liberalization, India…
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Ushering in a New Corporate Bankruptcy Regime for India
[The following guest post is contributed by Vinod Kothari of Vinod Kothari & Co.] The Bankruptcy Laws Reforms Committee (“BLRC”) headed by Dr. T. K. Viswanathan recently submitted its final report (“Final Report”) to the Ministry of Finance. Before this, an interim report (“Interim Report”) was submitted earlier in February 2015. While the Interim Report…
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Competition Law and the Curious Case Of Integrated Townships
[The following guest post is contributed by Sarthak Raizada, a 4th year law student at Dr. Ram Manohar Lohiya National Law University, Lucknow] The issue of relevant market for an anti-trust analysis has been the subject matter of considerable debate with respect to the real estate sector. The Competition Commission of India (“CCI”) has extensively…
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SEBI Order on Delisting Price
Delisting transactions tend to be sensitive as they underscore the conflicts between controlling shareholders (or promoters) and minority shareholders. The promoters are in a position to delist the company at any time they consider appropriate even though the circumstances may not necessarily favour the minority shareholders. Moreover, due to the information asymmetry between the two…
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Proposed Bankruptcy Code Unveiled
The much-awaited reform of bankruptcy law in India has witnessed a momentous step with the finalization of the report of the Bankruptcy Law Reforms Committee, which was issued yesterday. The report contains two parts: the Rationale and Design and a draft of the Insolvency and Bankruptcy Bill, 2015. Of course, it is impossible to discuss…
