Category: Uncategorized
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Competition Act and Merger Regulation
Today’s Economic Times carries a column by Jaishree Vyavaharkar & David Jacobs of Baker & McKenzie analyzing the provisions of the Act and the recent draft regulations on business combinations, with specific reference to implications on foreign investors. Here are some excerpts: “A fundamental concern for foreign investors was the lack of domestic nexus in…
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Northern Rock: Bank Nationalisation
As the Economist reports, Britain’s Government has decided to nationalise the ailing Northern Rock Bank, after unsuccessful efforts to sell it to a private player. The strategy followed recently by the Reserve Bank of India in the case of ailing Indian Banks has been somewhat different. It has usually exercised its powers under the Banking…
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Stolen Information and Stock Trades: Is it Insider Trading?
This question has come up before the United States Court of Appeals for the Second Circuit, in New York. Interestingly, this involves stealing of information by hacking a computer system. Here are the brief facts as reported in the New York Times: “[T]he evidence indicates that on Oct. 17, 2007, someone hacked into a computer…
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Guest Contributor: Gauri Manglik
It is my pleasure to introduce our guest contributor, Ms. Gauri Manglik. Gauri is an associate at Amarchand & Mangaldas & Suresh A. Shroff & Co. where her work includes capital markets, private equity and other corporate advisory work. Gauri graduated in the top 5% of the Masters of Law (LLM) class from the University…
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Hostile Takeovers in India: Opportunities and Challenges (Part 2)
After dealing with the history of hostile takeovers in India and possible regulatory obstacles, Shaun’s article moves on to deal with what I find is an interesting analysis of the availability of some of the key takeover defences in the Indian context. I highlight some of his observations (and also intersperse some of my own)…
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Hostile Takeovers in India: Opportunities and Challenges (Part 1)
Hostile takeovers of companies (otherwise referred to as the market for corporate control) is a rather well-known phenomenon in the corporate sphere. The 1980s (a.k.a. the deal decade) were famous in the US for large hostile transactions that set fire to lawyer ingenuity resulting in the development of various takeover defences. Hostile takeovers continue to…
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Competition Act: Cementing Law and Policy
Rahul Singh, who will be contributing to this blog, has written in Livemint about the adverse effects of the delay in notification the provisions of the Competition Act. To enunciate this point, he uses the example of the rise in cement prices, which had to be arrested through the threat of takeover by a state…
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Contributor: Rahul Singh
It is my pleasure to introduce our new contributor, Mr. Rahul Singh. Rahul Singh (http://www.rahulsingh.org) is Asst. Professor of Law at the National Law School of India University, Bangalore where he teaches Competition Law & Policy, Securities Regulation, WTO and Jurisprudence. He also lectures as a visiting faculty at numerous other places, including, the Indian…
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SEBI Reigns in Art Funds
Art funds have become a popular alternative investment avenue in India (see news reports in Moneycontrol India and Rediff Money). In a communication titled Message for Investors, SEBI has announced that art funds are collective schemes and will therefore fall within the purview of SEBI regulations. Here is the relevant extract: “This message is issued…
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The “Par” Has Lost Its Value
Indian company law includes several concepts that have become archaic. Efforts have been made to address this issue and to modernize company law – some the recent ones include a Concept Paper prepared by the Ministry of Company Affairs in 2004 and the JJ Irani Committee Report presented in 2005. However, these changes are yet…
