Blog Posts
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Deal-making and a Changing Legal Regime
[Posted by Umakanth Varottil] Vedanta’s takeover offer for Cairn Energy has raised some questions because it comes in the wake of impending changes to the SEBI Takeover Regulations that may make it potentially difficult for acquirers to structure transactions. Commentators have argued that the timing of the acquisition would help the acquirer take advantage of…
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Call for Submissions: Indian Journal of Law and Technology
[Posted by Umakanth Varottil] (We have received the following Call for Submissions from the Indian Journal of Law and Technology) The Indian Journal of Law and Technology (IJLT) is an annual law journal published by the Law and Technology Committee of the Student Bar Association, at the National Law School of India University, Bangalore, India.…
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Section 100 revisited: In Re Organon
[Posted by Mihir Naniwadekar] We have discussed the law on reduction of share capital under Section 100 of the Companies Act previously. A recent decision of a Single Judge of the Bombay High Court has an interesting observation in this regard. In Re Organon (India) Limited [2010] 101 SCL 270 (Bom), Kathawalla J. observes after…
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RBI: Regulatory Framework on Core Investment Companies
[Posted by Mihir Naniwadekar] An earlier post had discussed a Reserve Bank of India (RBI) proposal on regulation of Core Investment Companies; and had discussed the draft guidelines which the RBI had proposed. The RBI has now released the ‘Regulatory Framework for Core Investment Companies’. A Core Investment Company (CIC) is defined as being an…
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Unlawful Distribution of Capital: The Question of Intent
[Posted by V. Niranjan] Five judges of the United Kingdom Supreme Court are scheduled to hear an exceedingly interesting case on October 5 and 6, 2010, on what the Court of Appeal describes in the impugned judgment as a “short, but quite basic company law point”. The judgment of the Court of Appeal in the…
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Event Announcement: Mr. Soli Dastur’s Lecture on the DTC
[Posted by Mihir Naniwadekar] Mr. S.E. Dastur, Senior Advocate, will be delivering the 1st K.A. Sathe Memorial Lecture at Symbiosis Institute of Management, Range Hills, Khadki, Pune on Sunday, August 22, 2010 at 9.45 a.m. Mr. Dastur, the country’s foremost tax expert, will be speaking on the Direct Taxes Code. The lecture is being organized…
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NLSIR: Call for Submissions
[Posted by V. Niranjan] I have received the following call for submissions from the National Law School of India Review, which may be of interest to readers. “The National Law School of India Review (NLSIR) is the flagship law journal of the National Law School of India University, Bangalore, India. The NLSIR is a bi-annual,…
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Bombay High Court Upholds Section 14A and Rule 8D – Part II
[Posted by Shantanu Naravane] In a previous post, the outline of the propositions in Godrej & Boyce v. DCIT was provided, followed by a discussion of the first issue before the Court. The other two issues, and the Court’s conclusions are discussed below. Section 14A(2) and (3) and Rule 8D are Constitutionally valid The next…