Blog Posts
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The Continued Influence of Foss v. Harbottle in India
[Posted by Umakanth Varottil] [On 6 March 2021, the Jindal Global Law School (JGLS) organised a JGLS Virtual Discourse titled “Action by Minority Shareholders and the Rules in Foss v. Harbottle (1843) 2 Hare 461”. It was structured as a comparative discussion, with James d’Apice discussing the Australian position and me the Indian position. In…
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FDI Limit Hiked to 74%: An Impetus for the Insurance Sector
[Ekta Janghu is an Associate at Wadia Ghandy & Co., Mumbai and Riya Gupta is an Associate at Algo Legal, Mumbai] On February 1, 2021, the Finance Minister announced a host of reforms vide its first paperless budget. Amongst these, was the proposal to increase the threshold for foreign investment in the Indian insurance sector…
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SEBI’s Consultation Paper Makes Minority-Shareholder Friendly Proposals on Independent Directors
[Posted by Jayant Thakur] The Securities and Exchange Board of India (“SEBI”) has released a consultation paper making minority-shareholder friendly proposals mainly relating to independent directors (“IDs”). The paper proposes a dual-approval process for appointment and removal of IDs, which includes a “majority of minority shareholders” approval. If this approval is not received, a special…
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FIU’s Penalty on PayPal: Should Payment Gateways be Subject to Anti-Money Laundering Law?
[Posted by Bhargavi Zaveri] Recently, the Financial Intelligence Unit (FIU) penalized PayPal to the tune of Rs. 9 million for not registering itself as a ‘payment system operator’ under the Prevention of Money Laundering Act, 2002 (PMLA), India’s anti-money laundering (AML) law. PayPal appealed against the FIU’s order before the Delhi High Court. In January…
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UK Supreme Court Rules Uber Drivers are Workers: Its Impact on India
[Paridhi Rastogi is a 4th year B.Com., LL.B. (Hons.) student at the Institute of Law, Nirma University, Ahmedabad] In a recent landmark ruling, on the 19 February 2021, the UK Supreme Court has ruled that Uber drivers are ‘workers’, and not ‘independent contractors’. The judgement in the case of Uber BV and others v. Aslam…
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Appeal under Arbitration Act Maintainable Against Order Refusing to Condone Delay
[Pinak Parikh is a graduate of the Institute of Law, Nirma University and practises before the High Court of Gujarat and NCLT, Ahmedabad] Recently, in Chintels India Ltd. v Bhayana Builders Pvt. Ltd., the Supreme Court (“SC”) of India answered a perennial question of law pertaining to maintainability of an appeal under section 37(1)(c) of…
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The Online Platforms Conundrum and its Impact on Contract Law
[Varnika Agarwal is a 3rd Year BA LLB (Hons.) student at National Law University Delhi] The massive growth of online trade in India, over the past few years, has contributed to a paradigm shift in Indian competition law. It has raised questions regarding platform neutrality (or lack thereof), platform parity clauses, exclusive agreement clauses, and…
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Arbitrability of IPR in India: Have Courts Put a Snooze on Booz Allen?
[Manasa S Venkatachalam is a 4th year B.A., LL.B. (Hons.) student at Gujarat National Law University] The advent of arbitration into various other areas of law raises increased issues of arbitrability of certain subject-matters. Following issues of fraud, lease agreements and tortious claims, perhaps the next big question with respect to arbitrability in India arises with…
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The Second NLUJ CSBF Essay Writing Competition, 2021
[Announcement from the Centre for Studies in Banking and Finance, National Law University, Jodhpur] We are elated to inform you that the Centre for Studies in Banking and Finance (“CSBF”), National Law University, Jodhpur is inviting submissions for the “SECOND NLUJ CSBF ESSAY WRITING COMPETITION, 2021” in association with J. Sagar Associates as our intellectual partner…