TagInternational Developments

India’s Attempt to Regulate SPACs: Sponsors in the Spotlight

[Anushri Uttarwar is a 4th year law student at O.P. Jindal Global University] On March 11, 2021, the Securities and Exchange Board of India (“SEBI”) formed a group of experts to study the viability of introducing structures like special purpose acquisition companies (“SPACs”) in India. Contrary to SEBI’s guarded position, the International Financial Services Centre Authority (“IFSCA”) has already...

The Continued Influence of Foss v. Harbottle in India

[On 6 March 2021, the Jindal Global Law School (JGLS) organised a JGLS Virtual Discourse titled “Action by Minority Shareholders and the Rules in Foss v. Harbottle (1843) 2 Hare 461”. It was structured as a comparative discussion, with James d’Apice discussing the Australian position and me the Indian position. In this post, I summarise the key points I made during the session. My thanks go to...

UKSC on Parent’s Liability for Environmental Violations of Foreign Subsidiaries

[Raghav Harini N is a final year student at ILS Law College, Pune] In a recent landmark decision in Okpabi v Royal Dutch Shell Plc, the Supreme Court of United Kingdom (UK) has permitted a jurisdiction appeal against a UK-domiciled parent company for the environmental violations of its Nigerian subsidiary. This judgment makes a significant contribution to the fields of human rights, environmental...

China’s Claim concerning App Ban Under International Investment and Trade Law – Part II

[Angeline Priety and Rohin Goyal are fourth-year law students at Gujarat National Law University] In Part I of this post, we explained the possible recourse that Chinese investors may have against India’s app ban under the Indo-China Bilateral Investment Treaty (“BIT”). In Part II, we shall first examine India’s possible defence against claims by Chinese investors under the Indo-China BIT and...

China’s Claim concerning App Ban Under International Investment and Trade Law – Part I

[Angeline Priety and Rohin Goyal are fourth-year law students at Gujarat National Law University] On September 2, 2020, India’s Ministry of Electronics and Information Technology released a press note banning 118 mobile applications of Chinese origin. This blocking order, the third such order in a span of two months, was prompted by concerns with respect to the sovereignty of India, particularly...

Can Competition Law Regulate Privacy?

[Jyotsna Vilva is a 5th year B.A. LL.B. (Hons.) student at the National Law School of India University, Bangalore] The question of regulation of privacy and data protection issues through competition law has gained traction in recent years. In the past, while the European Commission has considered privacy to be a parameterof non-price competition, both the European Court of Justice and the...

UKSC Decision in Sevilleja: Reflective Loss, Creditors and Implications for India

[Rohan Deshpande practices as a Counsel at the Bombay High Court, and Karan Kamath is a 2020 B.A. LL.B. (Hons.) graduate from Symbiosis Law School, Pune. The authors would like to thank Mihir Naniwadekar for his comments on a draft version] The UK Supreme Court in its decision dated July 15, 2020 in Sevilleja v. Marex Financial Ltd. had to determine whether the rule against ‘reflective loss’...

Disgorgement in India: Takeaways from a Recent US Supreme Court Ruling

[Shaivi Shah is a 3rd year student and Palash Moolchandani a 4th year student, both at National Law University, Odisha] The Black’s Law Dictionary defines disgorgement as “the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion”. In India, since the enactment of the Securities and Exchange Board of India Act, 1992, the tool of disgorgement has been...

Gender and Ethnic Diversity in Arbitral Institutions: Where Do We Stand?

[Dhriti Mehta is a 2nd year LLB student at Campus Law Centre, Faculty of Law, University of Delhi] Over the past few decades, concomitant with the rise of international arbitration, institutional arbitration has increasingly become a preferred option for dispute resolution. The arbitral institutions wield significant influence concerning the arbitrator appointments. In cases where the parties...

Corporate Restructuring in India: The Cross-Class Cramdown Provision

[Aastha Agarwalla is a final year law student at Campus Law Centre. Faculty of Law, University of Delhi] The United Kingdom (UK) recently enacted a much-awaited economic legislation, the Corporate Insolvency and Governance Act 2020 (CIGA). The CIGA introduces sweeping reforms, including a cross-class cramdown provision (CCDP), in the restructuring legal framework. The cramdown mechanism, inspired...

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