Tag: Corporate Governance

SAT Rejects Appeals in the United Spirits Case

August 13, 2017

We had earlier this year discussed SEBI’s ad-interim ex parte order in the United Spirits Limited (USL) case by which several persons (including Mr. Vijay Mallya) were prohibited from buying, selling or otherwise dealing in any securities, with some of them being restrained from holding positions as directors or key managerial personnel of any listed…
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Activism through Directors Elected by “Small Shareholders”

July 25, 2017

Recent news reports (here, here and here) have highlighted a shareholder proposal that has been initiated in preparation for the annual general meeting of Alembic Limited to be held on 28 July 2017. The shareholder in question is Unifi Capital Private Limited who is said (though not verified) to be holding 3% shares in Alembic.…
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Bombay High Court on the Permissibility of Shareholder Representative Suits

July 12, 2017

Bar & Bench yesterday reported that the Bombay High Court denied leave to certain shareholders of various Tata group companies to bring a representative suit that made certain legal claims in the aftermath of the ouster of Mr. Cyrus Mistry from the board of Tata Sons as well as other Tata group companies. The order…
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Minimizing the Liability of Directors: SEBI’s Order in the Zylog Case

June 28, 2017

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SAT Order in the Satyam Case

May 18, 2017

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Ascertaining Legal Ramifications of Compensation Agreements- Part II (Statutory Approach)

April 17, 2017

[The following post, the second in a series, is contributed by Rahul Sibal, a third year student of NALSAR Hyderabad. In the series, he analyzes possible liabilities that may arise with respect to compensation agreements from different perspectives. He can be contacted at sibbalrahul@gmail.com. In this second post, he attempts to ascertain the liability of…
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Ascertaining Legal Ramifications of Compensation Agreements – Part I (Common Law Approach)

April 16, 2017

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Calls for Socially Responsible Investing

April 15, 2017

The concept of socially responsible investing (SRI) suggests that investors would invest in companies that are acting in socially and environmentally responsible ways, and that such investors would exit from investments in businesses that do not comport with environmental, social and governance (ESG) criteria. Such investors maintain a balance between financial sustainability and social impact…
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Stewardship Code for Insurance Companies

April 14, 2017

Historically, the passivity of institutional investors in India has led to less than significant monitoring of managements and controlling shareholders of companies. However, as I had noted in an earlier paper, the Indian markets began witnessing greater levels of shareholder activism in more recent years. Among the regulatory efforts that have engendered activism, one relates…
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Shareholding Thresholds for Oppression and Class Actions

March 19, 2017

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