Tag: Disclosure Requirements
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Climate Change – A Ticking Clock for Investors?
[Insaf Ahmad TK and Mathangi K are third-year undergraduate law students at Gujarat National Law University, India] The year 2019 witnessed the bankruptcy of Pacific Gas and Electric Corporation which the Wall Street Journal described as a “climate change bankruptcy”. The investors in Pacific Gas and Electric Corporation incurred losses worth millions of dollars due
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SEBI Circular on COVID-19 Disclosures
That the impact of the COVID-19 pandemic on a company’s business, operations and finances is “material” is undisputed. A question, however, arises whether listed companies ought to make clear and full disclosures of such impact and, if so, under what regime. One option would be to rely on existing securities regulation that requires listed companies
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Disclosure of Loan Defaults by Listed Entities
Readers may recall the controversy surrounding a circular that the Securities and Exchange Board of India (SEBI) issued in August 2017 to all listed companies requiring them to make a public disclosure to the stock exchanges within one working day of defaulting on loans and other financial facilities. In a blog post then, I had
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SAT Rules on “Materiality” of Disclosures
A somewhat peculiar fact situation arose for consideration of the Securities Appellate Tribunal (SAT) in Electrosteels Limited v. Securities and Exchange Board of India (order dated 14 November 2019). Electrosteel Limited (ESL) embarked upon an initial public offering (IPO) in 2010. ESL’s parent is Electrosteel Castings Limited (ECL), a public listed company. Since iron ore
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Disclosure Requirements Under the Insolvency and Bankruptcy Code: SEBI’s Proposed Amendments
[Mallika Sen is a 2nd year B.A. LL.B. (Hons.) student at the National Law School of India University, Bangalore and Rudresh Mandal is a 3rd year B.A. LL.B. (Hons.) student at the NALSAR University of Law, Hyderabad. Introduction On March 28, 2018, the Securities and Exchange Board of India (‘SEBI’) released a discussion paper on
