Blog Posts
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The Delhi High Court Departs from Samsung Electronics
One of the most pressing issues pending consideration of the Supreme Court is the appeal from the decision of the Karnataka High Court in Samsung Electronics. Earlier posts have considered whether the interpretation of section 195 proposed by the High Court is appropriate, and also the admission of the appeal by the Supreme Court. However,…
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Air Travel, International Airlines and Liabilities
(The following post comes to us from Sumit Agrawal, who is an alumnus of the National Law University, Jodhpur and associated with the Securities and Exchange Board of India (SEBI) as Legal Officer in its Integrated Surveillance Department. Views expressed herein are his own. Email: mailsumitagrawal@gmail.com) Losing luggage on foreign land is a life-time experience,…
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Stamp Duty on Amalgamations
The Mint has a column by Heena Singhvi that discusses the often contentious issue of whether stamp duty is payable on an order the High Court sanctioning a scheme of amalgamation between two or more companies. Of greater relevance is the discussion of the Delhi High Court decision in Delhi Towers Ltd. v. G.N.C.T. of…
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Lehman Bankruptcy Examiner’s Report
The Report of the Examiner in the Chapter 11 proceedings of Lehman Brothers Holdings Inc. provides details about certain transactions that were carried out in the company and the manner in which they were accounted for in its books. The key transaction is question is referred to as “Repo 105”, and the New York Times…
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FIPB Website
I chanced upon a website dedicated solely to the Foreign Investment Promotion Board (FIPB). It is not clear as to how long this website has been in existence. Today’s Business Standard reports that the FIPB will soon commence receiving electronic applications, and that the e-filing facility will be formally launched tomorrow (March 12). This is…
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SEBI Order on Shareholding Disclosures
On March 8, 2010, SEBI passed an order in the case of Bank of Rajasthan (BoR). SEBI commenced investigation into the shareholding pattern of BoR following a reference received from the Reserve Bank of India (RBI). Pursuant to the RBI Guidelines on Ownership and Governance in Private Sector Banks dated February 28, 2005, the promoters…
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Voluntary Nature of Corporate Governance Norms
For the last ten years, corporate governance norms in India have been a mandatory requirement for large listed companies, through Clause 49 of the listing agreement. However, in the recent round of reforms, the Ministry of Corporate Affairs has deviated from that path to set out voluntary guidelines for corporate governance (discussed earlier here). Even…
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Board Diversity and Women Directors
On the occasion of the International Women’s Day, it is apt to consider the role of board diversity, particularly the participation of women directors, in corporate governance. A discussion in the Hindu Business Line finds that women in corporate boardrooms continue to be an exception rather than the norm. Some countries have addressed this concern…
