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Juggling act

The evolution of the personal data protection bill is influenced by the need to protect the interests of businesses, the government and the individual, writes Yukti Sharma India’s journey to a personal data protection law...

Hiring company secretaries

The government notified the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020, on 3 January 2020. As per these amended rules, the following changes have been brought about:Appointment of a full-time...

New rules for independent directors

The Ministry of Corporate Affairs (MCA) on 22 October 2019 notified the: (1) Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019; (2) Companies (Creation and Maintenance of Data Bank of Independent Directors)...

NBFCs brought under purview of insolvency code

By Anisha Shroff and Sharanya Kundu, Samvad Partners
With the introduction of a codified law on insolvency and bankruptcy processes, restructuring jurisprudence entered a new era. While the new law focused on rehabilitating and restructuring stressed companies, restructuring processes involving financial service...

Section 87 relief for private companies

In a significant move, the Supreme Court, in Hindustan Construction Company Ltd v Union of India, granted a huge relief to several debt-ridden private sector companies (which are acting as contractors of the government)...

Courting mediation

The Singapore Mediation Convention offers hope to businesses looking for an alternative to time-consuming litigation in overburdened courts. Amar Sundram reports A recent article headlined “Trust Deficit” in a leading Indian financial newspaper pointed out...

When should companies recoup pension fund losses?

By Paras Parekh and Hitesh Jain, Parinam Law Associates
Exempted employers have to make good on payment defaults by issuers only in the event of a shortfall in interest payout, argue Hitesh Jain and Paras Parekh The Employees Provident Fund and Miscellaneous Provisions Act,...

Insolvency rules issued for financial services providers

By Sawant Singh and Aditya Bhargava, Phoenix Legal
The presence of insolvency rules for non-financial companies in the form of the Insolvency and Bankruptcy Code, 2016 (IBC), and the lack of similar rules for financial companies led to a peculiar dichotomy. The...

Perils of company buyback in venture capital financing

By Siddharth Seshan and Tushar Gogoi, Samvad Partners
You just have raised a new round of financing for your company at a rich valuation. It has been a particularly hard and well-fought negotiation with your investors. Before the celebrations can begin, however,...

Tribunals are here to stay, but with improvements

By Amit Kapur, J. Sagar Associates
A constitution bench of the Supreme Court recently delivered its judgment relating to tribunalization of justice. This judgment has put to rest the existentialist challenges to this institutional development, embracing “tribunals” as a part...

Auditor’s professional lapses not fraud

By Karthik Somasundram and Sneha Jaisingh, Bharucha & Partners
In January 2018, the Securities and Exchange Board of India (SEBI) banned the accountancy firm Price Waterhouse (PW) from auditing listed companies for a period of two years due to lapses in the audit...

Privacy law and its commercial implications

By Manoj Kumar, Hammurabi & Solomon
On its way to becoming a US$5 trillion economy with nearly 500 million web users, India is second only to China as the largest online market in the world. Increased net penetration, exponential increases...
rising star

Rising Stars 2019

India Business Law Journal presents its list of 50 up and coming law firms Jostling for position, arguably a useful skill when employed in moderation, has been elevated to a high art form in India,...

In the hot seat

Milton Cheng was recently elected as the firm’s new global chair, following the death in April of his predecessor, Paul Rawlinson. He is the firm’s first Asian chair and was previously the managing partner...

Insolvency and related considerations for directors

By Shivaji Bhattacharya and Prateek Sharma, S&R Associates
Directors of a company in financial difficulty should be aware that their conduct may be subject to close scrutiny if the company falls into insolvency under the Insolvency and Bankruptcy Code, 2016, as amended....

Open for business

The government recent relaxed foreign investment requirements in areas such as single brand retail and contract manufacturing to outside players. Dipti Lavya Swain assesses the move The Indian government recently announced several measures intended to...

Progress against harassment

Amit Wadhwa and Puneet Gupta analyze how courts are dealing with prosecutions and issues facing internal complaints committees following incidents of sexual harassment in the workplace Under India’s legal framework, in the past incidents of...

FAQs for encumbrance definition raise concerns

By Yogesh Chande and Preeti Kapany, Shardul Amarchand Mangaldas & Co
The concept of encumbrance was cursorily adopted in the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (takeover regulations). The takeover regulations defined an encumbrance in connection...

Are electric vehicles sparking into life at last?

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
There is little doubt that the future of mobility lies with electric vehicles (EVs). The environmental catastrophe that befalls most Indian cities every winter makes it vital for the government to push for faster...

EVs: Driving towards a sustainable environment

By Dipti Lavya Swain and Ketaki Dandiya, HSA Advocates
Automaker Mercedes Benz may have sold 600 units during Diwali, but the automobile sector as a whole is at a low point, forcing the government to assist the massive employment creating sector that contributes...