Latest Insights

“Control” Untouched in the Takeover Regulations: A Case of Regulatory Inertia

Let’s just say, it is not at all surprising. After carrying out an extensive consultation that lasted more than a year with a view to defining the concept of “control” under the SEBI (Substantial Acquisition and Takeovers) Regulations, 2011 (the “Takeover Regulations”), the Securities and Exchange Board of India (“SEBI”) has come around a whole circle. It has, by retaining the current definition...

Interim Orders of an Arbitral Tribunal: Contempt, Execution and Beyond

[Guest Post by Swastika Chakravarti, a 5th year law student at National Law University Odisha] The Indian judiciary created a unique mechanism for the enforcement of interim orders passed by an arbitral tribunal by holding that a party that does not comply with such orders can be held liable for contempt of court. The Supreme Court in the judgment of Alka Chandewar v. Shamshul Ishrar Khan (July...

Conflicts and Gaps in Regulatory Aspects of Schemes of Arrangement

[Guest post by Purvi Khanna, a 4th year student at NALSAR University of Law, Hyderabad.] The Ministry of Corporate Affairs’ recent notifications formalise an overhaul in the procedure for Schemes of Arrangements (“SoA”). . This post attempts to shed light on certain commercial aspects, and the inconsistencies and overlaps in the provisions of the Companies Act 2013 (the “Act”), the...

Supreme Court’s Stay Order in the Jaypee Insolvency Case

It was only last week that the Insolvency and Bankruptcy Code, 2016 (the “Code”) and the insolvency proceedings initiated thereunder received a fillip from the Supreme Court in Innoventive Industries Limited v. ICICI Bank (discussed here). Within a matter of a few days, a contrary result emerged from the Supreme Court in Chitra Sharma v. Union of India which has struck a temporary blow to the...

SEBI’s Policy on Self-Trades

[Guest post by Jitesh Maheshwari, Associate at Mindspright Legal in Mumbai] Introduction Self-trades are trades executed on the stock market in which the same entity is both buyer and seller. These trades do not represent a real change in beneficial ownership of the security. Earlier, the position on self-trades was that they create artificial or fictitious volume in the market, and give a false...

The Tata Corporate Governance Episode: The ‘India-Specific’ Issues and Concerns

[Guest post by Priya Garg, a 4th year law-student at West Bengal National University of Juridical Sciences (WBNUJS)] Introduction The recent turf battle within the Tata Group is likely to become a subject matter of study for various disciplines, including the subject of corporate law and governance.[1] The Tata-Mistry dispute giving rise to corporate governance issues needs to be considered...

The Costs and Benefits of Creditor Control under Insolvency Law

[Guest post by Enakshi Jha, who is a graduate from NALSAR University of Law and is currently working at a corporate law firm in Mumbai] The principal benefit of a creditor controlled insolvency law is the efficiency it brings to the market and the advantages it holds for entrepreneurship. First, as a model spearheaded by the persons whose money is at stake (section 6 of the Insolvency and...

Supreme Court Affirms Creditor-Friendly Nature of Insolvency Law

Background The Supreme Court yesterday delivered its first substantive ruling under the Insolvency and Bankruptcy Code, 2016 (the “Code”) in Innoventive Industries Limited v. ICICI Bank. Incidentally, this relates to the first corporate insolvency case to be admitted by the National Company Law Tribunal (“NCLT”) after the Code came into effect in December 2016. The Supreme Court rejected a...

Supreme Court on Prosecuting a Company for Cheque Dishonour

The Supreme Court in N. Harihara Krishnan v. J. Thomas ruled yesterday on certain procedural aspects relating to the offence under section 138 of the Negotiable Instruments Act, 1881 (“NI Act”) of dishonour of a cheque issued by a company. It held that any failure to include the company as an accused in the complaint at the outset (i.e. within the limitation period) would be fatal to the...

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

Topics

Recent Comments

Archives

web analytics