Blog Posts
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ULIPs regularised, Insurance companies given absolution
[Posted by Jayant Thakur] As reported in the press, the President has finally issued an Ordinance dated 18th June 2010, coming into effect immediately from that date, for, what I would call, “regularising” ULIPs. I use that word because not only it is declared that ULIPs (as very widely defined) issued by an insurer are…
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Webinar on ‘Revision of the ICC Arbitration Rules’
[Posted by Umakanth Varottil] (The following post comes to us from Rohan Bagai, who has previously contributed posts on this Blog here and here) The International Chamber of Commerce (ICC) Court of Arbitration Secretary General, Mr. Jason Fry and Ms. Francesca Mazza, Counsel and Secretary to the ICC Commission on Arbitration are set to impart…
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The “right” of retention
[Posted by V. Niranjan] It is generally accepted that a defendant in an action for damages cannot exercise the right of “set-off” on the basis of a mere “claim”, which has not crystallised. For example, while the law permits a defendant to set off debts owed to him by the plaintiff against a successful claim…
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Bhopal Gas Disaster Case
[Posted by Umakanth Varottil] The Law and Other Things Blog links to Frontline’s extensive coverage of the judgment rendered last week by the Chief Judicial Magistrate in Bhopal. It also provides a detailed account of the twists and turns encountered by various parties to the litigation for the last 25 years.
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Bits of Interest
[Posted by Umakanth Varottil] 1. Mutual Funds and Unit Premium The Law-In-Perspective Blog uses the analogy of Ponzi schemes to explain a March 2010 circular of SEBI that prohibits mutual funds from using the unit premium reserve to pay dividends. If one would prefer to avoid the negative connotation associated with a Ponzi scheme, the…
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Conference on Goods and Services Tax
[Posted by Mihir Naniwadekar] The School of Law, Christ University, in collaboration with Lakshmi Kumaran & Sridharan, Bangalore, are organizing a conference on the GST on 26 June 2010. Mr. Gautam Chawla of Christ University sends the following invitation, which might be of interest to readers: The replacement of the state taxes by the Value…
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Trends in Private Equity Investment Structures
[Posted by Umakanth Varottil] 1. A report in the Mint demonstrates the popularity of convertible instruments over plain-vanilla equity when it comes to investments by private equity firms. 2. A post on New York Times’ Deal Professor Blog discusses trends in contractual structures for private equity investments from a broader perspective in the wake of…
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More on the Pricing Guidelines for Foreign Investment
[Posted by Umakanth Varottil] (The following post is contributed by Raghav Sharma, who is an associate with a law firm in Delhi) This post relates to Mr. Somasekhar Sundaresan’s article titled “RBI cuts sorry figure over norms for share transfers” wherein the author has highlighted certain ambiguities arising from the Reserve Bank of India’s (“RBI”)…
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UK: Consultation Paper on Takeover Bids
[Posted by Umakanth Varottil] While the SEBI Takeover Regulations in India are a subject-matter of detailed review, elsewhere in the U.K. there are proposals for amending certain aspects of the City Code on Takeovers and Mergers. These changes have been necessitated on account of the widespread debate that followed the takeover of Cadbury plc by…