The concept of corporate social responsibility (CSR) has had a pivotal status in the debates surrounding corporate law and governance at the turn of the century. Although CSR was ensconced in the idea of voluntarism by which companies and their boards are invited to pay attention to the interests of various constituencies affected by a company’s activities, in some jurisdictions such as India it...
Call for Papers: Journal on Governance
[Announcement on behalf of Journal on Governance] National Law University, Jodhpur is an institution of national prominence established under the National Law University, Jodhpur Act, 1999 by Rajasthan State Legislation. The University is established for the advancement of learning, teaching, research and diffusion of knowledge in the field of law. About the Journal The Centre for Corporate...
India’s Changing Landscape of ESG Disclosures
[Aanchal Kabra is a 5th year B.A. LLB (Hons.) student at the West Bengal National University of Juridical Sciences, Kolkata] Sustainable finance has been gaining considerable prominence in corporate India. This conception of finance refers to finance which integrates environmental, social, and governance (‘ESG’) criteria into business and investment decisions, in an effort to increase benefits to...
Double Materiality in Indian ESG Disclosures
[Aanchal Kabra is a 5th year B.A. LLB (Hons.) student at the West Bengal National University of Juridical Sciences, Kolkata] The concept of ‘materiality’ in financial disclosures was first introduced in the United States Securities Act of 1993. Thereafter, the United States Securities and Exchange Commission (‘SEC’) has maintained a consistent understanding of what information constitutes...
Analyzing the Business Judgement Doctrine in the Indian Context
[Dhvani Shah is a penultimate year student at Gujarat National Law University] In January 2022, the Rajasthan High Court stayed trial court proceedings against Mr. Pratip Chaudhuri, ex-SBI Chairman, for an alleged bank loan scam. Mr. Chaudhuri was arbitrarily arrested for discrepancy in the sale of a non-performing asset (NPA) of the bank, i.e., the “Garh Rajwada hotel” to the Alchemist Asset...
Tackling ESG Mislabels and Greenwashing: SEC in the BNY Mellon Case
[Salini Augusty and Nikash John are 5th-year students from the School of Law, Christ (Deemed to be University), Bengaluru] Sustainable development has progressively become a driving factor in the age of conscious investments. This ‘green factor’ is arguably exploited by corporates to misdirect investors for their gains. The environment, social, and governance, better known as the ESG, though...
Call for Papers: Journal on Governance
[Announcement on behalf of the Journal on Governance] National Law University, Jodhpur is an institution of national prominence established under the National Law University, Jodhpur Act, 1999 by Rajasthan State Legislation. The University is established for the advancement of learning, teaching, research and diffusion of knowledge in the field of law. About the Journal The Centre for Corporate...
Zee v. Invesco: Jurisdiction Battle between the High Court and the NCLT
[Neharika Chhabra and Gourav Kathuria are fourth-year B.A. LL.B (Hons.) students at NALSAR University of Law] On 22 March 2022, a division bench of the Bombay High Court in Invesco Developing Markets Fund v. Zee Entertainment Enterprises overturned the judgment of a single judge. It held that section 430 of the Companies Act (the ‘Act’) bars the High Court from adjudicating matters arising under...
Does ESG’s Success in India Threaten the CSR Regime?
[Divyanshu Sharma is a 3rd Year BALLB (Hons) Student at National Law University, Delhi] Corporate social responsibility (‘CSR’) and environmental, social and governance (‘ESG’) investment criteria are two concepts which predominantly affect the investment decisions of a socially oriented investor. According to the UNIDO, CSR is a management concept wherein companies integrate social and...
ESG Rating Providers: Analyzing India’s Proposed Regulatory Framework
[Paridhi Jain is a 5th year B.B.A., LL.B. (Hons.) student at Symbiosis Law School, Noida] Once a niche market for investors, environmental, social, governance (“ESG”) investing has grown over the past few years. The pandemic is being referred to as a “sustainability” crisis and one that has re-invigorated focus on climate change, acting as a wake-up call for investors to prioritize a more...
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