(The following post has been contributed by Rahul Singh, Assistant Professor of Law, National Law School, Bangalore (on leave) and Senior Associate, Trilegal) We live in interesting times where the Minister for Corporate Affairs (Indian competition authority’s administrative Ministry) speaks about helping Kingfisher Airlines and slaying the dragon of runaway inflation through the so-called second...
CCI Approves Acquisition of UTV by Walt Disney
(The following post has been contributed by Piyush Prasad, who is an alumnus (B.Sc. LL.B.) of the National Law University, Jodhpur) The Competition Commission of India (“CCI”) on August 25, 2011 approved the proposed combination of Walt Disney Company (Southeast Asia) Pte. Limited (“the “Acquirer”) and UTV Software Communications Limited (“the “Acquired Enterprise”) under section 31 (1) of the...
Miscellaneous
1. Put Options & Foreign Exchange Regulations We have in the past discussed the questions regarding the enforceability of put and call options under securities laws and regulations, primarily the Securities Contracts (Regulation) Act, 1956. In addition, if put options are entered into by foreign investors, the Foreign Exchange Management Act, 1999 and regulations issued by the Reserve Bank of...
Maiden Order under Merger Control Regulations
Legally India has reported the issuance of the first order by the Competition Commission of India (CCI) under the Combination Regulations that came into force on June 1, 2011. CCI’s order considers the acquisition by Reliance Industries Limited and Reliance Industrial Infrastructure Limited (the Acquirers) of the 74% stake held by the Bharti Group in each of two joint venture insurance companies...
Further Views on Merger Regulations
Our guest contributor Rahul Singh had earlier discussed the key features of the Competition Commission of India (Procedure in regard to the transaction of business relating to combination) Regulations, 2011 that will come into effect on June 1, 2011. In addition, the following columns carry an interesting discussion about the impact of these regulations on business: Merging Business with...
Combination Regulations Under Indian Competition Law
(The following post is contributed by Rahul Singh) The Competition Commission of India (the “CCI“) has on 11 May, 2011 notified the Competition Commission of India (Procedure in regard to the transaction of business relating to combination) Regulations, 2011 (No 3 of 2011) (“Combination Regulations“) under the Competition Act, 2002 (the Competition Act). Background...
Notification of Merger Review Provisions under Competition Law
(The following post has been contributed by Rahul Singh, Assistant Professor, National Law School of India University, Bangalore (on leave) and Senior Associate, Trilegal) The Ministry of Corporate Affairs (MCA), Government of India has recently notified the provisions for regulation of combination (commonly known as “merger review provisions”) under the Competition Act, 2002. The Competition...
Competition Commission decision on Bank Prepayment charges: The Meaning of ‘Agreement’
The Competition Commission of India has issued its order in Case No. 5/2009 (decision dated 2nd December 2010), Neeraj Malhotra v. Deutsche Post Bank Home Finance Ltd. and others. A copy of the majority (4-2) decision is available here. Two dissenting orders are available here and here. The decision and the dissents demonstrate divergent approaches over the meaning of the term ‘agreement’ for...
Supreme Court on Powers of the Competition Appellate Tribunal: SAIL v. Jindal Steel
The Supreme Court of India has decided on the scope of the powers of the Competition Appellate Tribunal, in SAIL v. Jindal Steel. Reports of the decision are available on Legally India and Bar and Bench. We will carry a detailed analysis of the decision shortly. UPDATE: The judgment is now available on the JUDIS website – it can be downloaded through a date-wise search. The judgment...
MCA 2009
The previous post highlighted some of the key developments in corporate law and related aspects last year. Since then, I came across a year-end review published by the Ministry of Corporate Affairs (MCA) that details the progress it made last year. While there have been several steps towards easing the procedures for doing business, the Ministry also had to deal with the crisis emanating from...
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