Tag: Capital Markets
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Guest Post: Section 62 (1)(c) of Companies Act, 2013 and Liberty of Capital Raising by Companies
[The following is a guest post from Vinod Kothari of Vinod Kothari & Co. He can be contacted at vinod@vinodkothari.com] Closer to the gradual implementation of the 2013 Act, one gets an ever firmer feeling that the drafting of the law became highly superficial, and the twin Parliamentary committees merely went on the basis of
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Supreme Court on “Market Abuse”
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The Exportation of Indian Capital Markets
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Regulatory Reforms in the Capital Markets
SEBI has taken steps in the last few weeks to bring about reforms in the capital markets, particularly in the primary market segment. The first set of reforms essentially gives effect to decisions taken at SEBI’s board meeting on August 16, 2012. These include matters relating to both the equity markets, where the SEBI (Issue
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Relaxations on IDR Redemption
Last year, SEBI issued a circular that imposed some curbs on redemption by holders of Indian depository receipts (IDRs). Under that circular, redemption was permitted only if the IDRs are infrequently traded on the stock exchanges in India. This was a method of limiting exit options to investor exclusively to the Indian markets, except where
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The Changing Nature of Public Listed Companies
During the week that the Facebook IPO has captured the attention of market observers, the Economist has carried a couple of pieces (here and here) that raise questions regarding the interest and viability of public listed companies with diffused shareholding (epitomized by the Berle and Means corporation). The statistics shown by the Economist are quite
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India’s Contribution to the Global IPO Activity
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Supreme Court on Tainted Securities
In Varghese Joseph v The Custodian, the Supreme Court was called on to clarify the approach to be adopted in relation to tainted securities under the Special Court (Trial of Offences relating to Transactions in Securities) Act, 1992. Although there is not much by way of company law principles of even statutory interpretation to be
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Changes to Capital Markets Regulations
On October 25, 2010, SEBI announced a number of changes to regulations governing capital markets. 1. Public offerings. A new regime is being established for IPOs by insurance companies. Rather than issue a new set of guidelines for that industry, SEBI has decided to apply the ICDR Regulations, 2009 along with additional industry-specific disclosures such
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Unlawful Distribution of Capital: The Question of Intent
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 case – Progress Property
