TagInternational Developments

Hub and Spoke Cartels: A Perspective on Future Investigations

[Aditya Goyal and Shreya Chandhok are students at National Law Institute University, Bhopal] Amidst the ever-increasing anti-competitive concerns and the inadequacy of the present competition regime to tackle the emerging issues, the Indian Government introduced the draft Competition (Amendment) Bill, 2020 in March this year. One of the proposed amendments in the Bill widens the scope of...

Equalisation Levy in India: The Impediments of Extra-Territoriality

[Vedangini Bisht and Shubham Chaudhary are third year students at National Law University, Delhi] India recently passed its Finance Act 2020 to expand the scope of equalisation levy, a type of digital service tax, charged to non-residential e-commerce businesses. However, the Act (passed on March 27, 2020) has extra-territorial application, since it attempts to tax the income earned from...

Corporate Activism: Once Again Questioning the Purpose of a Company

[Rajat Maloo is a III year B.A., LL.B. (Hons.) student at the National Law School of India University, Bangalore] Recently, large corporations such as Unilever, Johnson & Johnson, and Facebook amongst several others have been expected to fulfil a different kind of social responsibility. Unilever and Johnson & Johnson were some of the few companies who have either discontinued or altered...

Relief Defendants in Recovery Proceedings: Implications of the Dave Committee’s Suggestion

[Pranav Mihir Kandada and Anuraag Bukkapatnam are 3rd year law students at NALSAR University of Law, Hyderabad] On June 16, 2020, SEBI notified the report of the High Level Committee under the chairmanship of Justice (Retd.) Anil R. Dave on the “Measures for Strengthening the Enforcement Mechanism of the Board and Incidental Issues”. The Committee examined the present securities laws and noted...

German Court’s Antitrust Decision Rules against Data Collection by Facebook

[Ridhi Arora and Hitoishi Sarkar are II Year B.A. LL.B (Hons.) students at Gujarat National Law University] On 23 June 2020, the Federal Court of Justice (Germany) provisionally confirmed charges of abuse of dominant position against Facebook. The judgment comes a year after the Federal Cartel Office (Germany) found Facebook guilty of exploiting its dominance to force users to share data from...

A Good “Bad Bank”: Analysis of an Alternative tool for Resolution

[Winy Daigavane and Pavan Belmannu are 4th year B.A.LLB. (Hons.) students at the National University of Advanced Legal Studies, Kochi] With the Insolvency & Bankruptcy Code (Amendment) Ordinance, 2020 coming into force, the operation of the Insolvency & Bankruptcy Code 2016 (IBC) has been suspended for a period of six months or a for a further period not exceeding one year. This...

UK’s Corporate Insolvency and Governance Bill, 2020: A Model for India?

[Apurva Vats and Vishal Bijlani are 2nd and 3rd year students respectively of National Law University Odisha] In the midst of a global pandemic, several nations have been working towards enhancing their insolvency regimes to mitigate the current situation. The Corporate Insolvency and Governance Bill published by the UK Government on 20 May 2020 is expected to be enacted as soon as possible if...

India’s Equalisation Levy: Perspectives and Tax Positions

[Hardeep Singh Chawla is an Advocate with an LL.M. in International Taxation from NYU School of Law. He may be reached at [email protected]] Much has been written about the expanded scope of the equalisation levy (“Levy” or “2020 Levy”) (see here and here) under the Finance Act, 2020. At a simplistic level, this Levy is introduced to capture into the tax net transactions that escaped...

Third Party Funding in International Commercial Arbitration: Confidentiality Concerns

[Sreeja Sengupta is a 3rd year B.A. L.L.B. Hons. student at the West Bengal National University of Juridical Sciences] Confidentiality of proceedings in commercial arbitration is one of its foremost advantages. Specifically, in the field of international commercial arbitration, which involves multinational companies and sometimes even state utilities, confidentiality assumes great significance as...

Post COVID-19 Mergers and the ‘Failing Firm Defence’ : A Need for CCI’s Proactive Role

[Parina Muchhala is a 3rd year student and Ira Pandya a 4th year student, both at the Maharashtra National Law University Mumbai] The effects of the COVID-19 outbreak has led to interruption of supply chains, reduction in consumer demand and disruption of economies.  It has also led many companies to file for bankruptcy worldwide. This indicates that while COVID-19 has also negatively impacted...

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