Tag: Company Law
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Uncovering Significant Beneficial Owners Through Publicly Available Information
[Pammy Jaiswal is a Partner and Darshan Rao is an Executive, both at Vinod Kothari and Company] The framework for significant beneficial owner (“SBO”) identification can be traced back to the recommendations of the Financial Action Task Force (“FATF”). Section 90 of the Companies Act, 2013 (“Act”) read with the Companies (Significant Beneficial Owners) Rules, 2018 (“SBO Rules”) translates the
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India’s Reverse-Flip Wave: Regulatory Breakthroughs and Enabling Frameworks
[Dev Goyal and Manas Divetia are IV Year B.B.A. LL.B. (Hons.) students at Gujarat National Law University, Gandhinagar] India’s reverse‑flip moment is here, with major transactions demonstrating the practical benefits of its improved regulatory framework. Groww’s May 2024 return from Delaware coincided with impressive performance gains for the company, including a tripling of net profit to INR 1,819 crore and substantial
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Supreme Court on the NCLT’s Jurisdiction on Matters of Fraud, Manipulation and Coercion
[Umakanth Varottil is a Professor of Law at the National University of Singapore] The “tribunalisation” of company law in India occurred several years ago with the establishment of the Company Law Board (CLB), which thereafter metamorphosed into the National Company Law Tribunal (NCLT) under the Companies Act, 2013. The benefits of such tribunalisation are well known,
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ICJ’s Advisory Opinion on Climate Change: Implications for Private Actors
[Umakanth Varottil is a Professor of Law at the National University of Singapore] On 23 July 2025 the International Court of Justice (ICJ) issued its landmark advisory opinion on the “Obligations of States in Respect of Climate Change”. Despite its non-binding nature, the advisory opinion carries considerable weight under international law that States would have to
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Protection of Minority Shareholder Rights: Addressing Shareholder Deadlocks
[Shreeji Patel is a student at National Law Institute University, Bhopal (NLIU)] A recent ruling in Escientia Life Sciences v. Escientia Advanced Sciences (P) Ltd. dated 21 March 2025 reflects the evolving approach of the National Company Law Tribunal (“NCLT”) in resolving shareholder deadlocks. The NCLT proposed a structured buy-out mechanism after observing that a continued deadlock would jeopardize
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The Doctrine of Vicarious Liability of Auditors: Delhi High Court in Deloitte v. Union of India
[Bharat Vasani is a Senior Advisor and Maharshi Shah and Ayush Lahoti are Associates, all at the Mumbai office of Cyril Amarchand Mangaldas. An earlier version of this post was published on the Cyril Amarchand Mangaldas Blog] India’s evolving financial reporting system has made robust corporate governance mechanisms indispensable. The need for heightened financial reporting mechanisms was first felt after
