Tag: Contract Law
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Demystifying concepts and terms used in agreements
[Posted by Satyajit Gupta] My colleague, Daksh Trivedi has recently written an interesting article in The Mint, where he has discussed the various legal concepts/ terms used in shareholders and share purchase agreements. He begins with: Typical documents used for capturing terms of equity investments, that is, share-purchase agreements or shareholders’ agreements, are now complex…
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The AIG Bonus Payments Controversy: Issues of Contract Law
[Posted by Umakanth Varottil] There has been a significant outrage since the controversy over bonus payments to some AIG employees began about a week ago. One of the justifications of the AIG management for pressing on with the payments is that the company is legally obligated to pay their employees failing which it could be…
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Non-Compete and Non-Disclosure Agreements: Are They in Restraint of Trade?
[Posted by Umakanth Varottil] (In the following post, Venugopal Mahapatra and Gautam Bhatia discuss the Indian legal position regarding non-compete and non-disclosure clauses in employment and similar contracts in the context of a Bombay High Court decision. They also compare and contrast the Indian law on this topic with the position that prevails in the…
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Speedier Enforcement of Large Contracts on the Anvil
[Posted by Umakanth Varottil] Business Standard reports that the Government is considering a new law for the faster enforcement of high-value business contracts. This is to enhance the environment in India for business transactions. The principal driver behind this move is stated to be the low scores India has received on this count in the…