TagProperty Law

SEBI’s Denial of Relief to Pledgees in the Karvy Case

We had last month discussed the ex parte ad interim order passed by the Securities and Exchange Board of India (SEBI) wherein the regulator found that Karvy Stock Broking Limited (KSBL) had wrongfully pledged securities belonging to its clients to various lenders in exchange for funds borrowed. Since then, four lenders, (i) Bajaj Finance Limited, (ii) ICICI Bank Limited, (iii) HDFC Bank Limited...

Arbitrating Disputes under the Transfer of Property Act, 1882

[Abhinav Sankaranarayanan is a III year B.A.L.L.B (Hons.) student at the West Bengal National University of Juridical Sciences, Kolkata (WBNUJS)] Background On 28 February 2019, a Division Bench of the Supreme Court in Vidya Drolia v. Durga Trading Corporation revisited the convoluted jurisprudence surrounding the arbitrability of disputes governed by the provisions of the Transfer of Property...

The Death of the “Absolute Interest”

[The following guest post is contributed by Aditya Swarup, who is an Assistant Professor at the Jindal Global Law School] In the seemingly complex world of corporate finance, creditors often face questions on the kind of security that ought to be taken by the them to support the loan to the borrower, answers to which depend on the relationship between debt and equity of the company. A further...

Bombay High Court Clarifies Rights of Nominees in Shares

An intricate legal question that has befuddled various courts relates to the conflicts between the rights of nominees and those of successors in the case of ownership of various financial instruments, including shares of a company. As regards shares, the issue came to the fore in 2010 in the case of Harsha Nitin Kokate v. The Saraswat Co-operative Bank Limited (“Kokate”) wherein, after...

Arbitrability of Copyright Disputes

[The following guest post is contributed by Aditya Swarup, who is an Assistant Professor at Jindal Global Law School. The author would like to thank Shivprasad Swaminthan, Assistant Professor, Jindal Global Law School and Angad Mehta, Advocate, for their valuable comments.] In the recently delivered judgment in Eros International Media Ltd. v. Telemax Links India Pvt. Ltd., the Bombay High Court...

Assignability of Life Insurance Policies

The controversial practice of companies taking out “dead peasants” insurance on the life of their employees was depicted by Michael Moore in his film “Capitalism: A Love Story”. In this, companies took insurance policies on the lives of their employees and also paid the premium on them. In case of the death of their employees, the claims would be paid out to the employer, and the family of the...

Need For a Real Estate Regulatory Authority in India

[The following guest post is contributed by Ranjit Mahishi, who is an Associate at Kochhar & Co., Bangalore. He can be reached at [email protected]] Real estate in India has experienced a tremendous growth in the recent years. The demand for commercial and residential spaces in major cities has seen a steady rise. Generally, a real estate transaction involves complex issues such...

MCA Circular: Secured Corporate Debentures and Public Deposit Norms – Part 2

[The following is a guest post from Vinod Kothari and Nidhi Ladha of Vinod Kothari & Company. The authors can be contacted at [email protected] and [email protected] respectively. This is a continuation from the first post in the series that can be accessed here] Meaning of ‘mortgage of fixed assets’ The significant difference between mortgage and charge is that mortgage is a...

MCA Circular: Secured Corporate Debentures and Public Deposit Norms – Part 1

[The following is a guest post from Vinod Kothari and Nidhi Ladha of Vinod Kothari & Company. The authors can be contacted at [email protected] and [email protected] respectively] The Ministry of Corporate Affairs, vide a notification dated 21st March 2013  (“Notification”), has made a change in Companies (Acceptance of Deposits) Rules 1975 (“Deposit Rules”). The apparent...

Wrotham Park and the scope of the “hypothetical negotiation” measure of damages

Perhaps the most obvious instance of the sophistication of English commercial law is the range of remedies it has, depending on the precise nature of and tailored to each cause of action. The most common remedy is, of course, compensation for loss, which attempts to place the claimant in the position in which he would have been had the term (in the case of contract) not been breached; an award of...

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