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Search results: Companies Act


Tweaks to ECB directions helpful, but clarity needed

By Sawant Singh and Aditya Bhargava, Phoenix Legal
Until recently, proceeds of external commercial borrowings (ECB) were not allowed to be used for working capital or general corporate purposes, or for the repayment of rupee loans, except where an ECB with a...

Managing your GST for cross-border transactions

By Rajesh Kumar and Abhishek Hans, India Law Offices
Cross-border transactions are intricate and complex in terms of indirect tax consequences in India. It is important to understand and analyse the applicability of a goods and services tax (GST) on cross-border transactions. This...

New dawn for CCI’s investigation techniques

By Karan Chandhiok and Lagna Panda, Chandhiok & Mahajan
Dawn raids are unannounced search and seizure operations conducted by the director general (DG) of the Competition Commission of India (CCI), or investigators acting under the DG’s authority in accordance with the Competition Act,...

Recent SEBI amendments to pledge disclosures

By Jyotika Bajaj and Medha Unadkat, SNG & Partners
Raising debt by pledging shares is a common practice in the banking and finance industry. However, pledging the shares of a listed company has a direct impact on the marketability of those shares, and...

Advent leads US$300m fundraise by Aditya Birla

Aditya Birla Capital (ABCL), the financial services subsidiary of diversified conglomerate Aditya Birla Group, raised ₹21 billion (US$300 million) from a group of investors and other group companies. Global private equity firm Advent International invested...

India at crossroads with cross-border insolvency

By Shweta Bharti and Sukrit Kapoor, Hammurabi & Solomon
The National Company Law Appellate Tribunal (NCLAT) in the Jet Airways insolvency proceedings upheld the recent cross-border protocol agreed between the National Company Law Tribunal (NCLT) appointed Resolution Professional (RP) and the Dutch insolvency...

Acquisition of companies through share swaps

By Jay Gandhi and Abhishek Parekh, Shardul Amarchand Mangaldas & Co
Analysis of global trends shows that share swap structures have become integral elements in most M&A transactions. The acceptance of stocks as currency for such acquisitions is well established, as Disney’s US$71 billion acquisition...

Non-signatories of a group are bound to arbitrate

By Karthik Somasundram and Shreya Gupta, Bharucha & Partners
The courts have previously applied the doctrine of group companies when they referred non-signatories to an arbitration agreement to arbitrate. The Supreme Court invoked this doctrine again in the case of MTNL v Canara...

Tax reforms introduced to stimulate economy

On 20 September 2019, the president of India, Ram Nath Kovind, promulgated the Taxation Laws (Amendment) Ordinance, 2019, to introduce several major reforms to the direct tax framework, with the objective of rationalizing tax...

A fine balance

Merging the wants of employers and employees into law reforms palatable to both sides is no easy task, writes Sanjoy Ghose Businesses view Indian labour laws as a growth inhibitor, cumbersome, discouraging investment and expansion,...

Remedies under CPA, RERA are concurrent

The Delhi High Court in a recent judgment held that remedies available to homebuyers under the Consumer Protection Act, 1986 (CPA), and Real Estate (Development and Regulation) Act, 2016 (RERA), are concurrent. This judgment...

Conflicts of interest of investor nominee directors

By Mohit Gogia and Rachita Bhat, S&R Associates
Investors or other stakeholders routinely participate in the governance of an investee entity through nominees, often appointing a nominee as a director to safeguard its interests through the exercise of a veto or an...

Solutions to PPP challenges in infrastructure sector

By Amit Ronald Charan and Rashi Arora, HSA Advocates
India is potentially the largest global market for public-private partnerships (PPP) thanks to the growing number of PPP projects in the past 15 years. Policy measures designed to bring about private participation in infrastructure...

IBC to lure foreign funds following ECB reforms

By Sameen Vyas and Vishrut Kansal, L&L Partners
Consistent with the views of the government, the Reserve Bank of India (RBI) regards the Insolvency and Bankruptcy Code, 2016 (IBC), as a credible way of removing obstructions to economic progress represented by non-performing...
law firms

State of play

Indian law firms face a daunting pace attack from big accountancy firms amid a slow-wicket economy. On top of this, in-house counsel are facing up to more work internally, leaving less for law firms....

Dial M for merger

Significant merger activity in the telecoms sector provides a window into merger regulation and control on a global scale, writes Kalpana Tyagi The past few years have been dynamic for the telecommunications sector worldwide. Significant...

An Asian mosaic

Senior women lawyers across Asia share personal stories of successes, struggles and strategies for a more inclusive legal profession. Vandana Chatlani reports The women profiled in this article have worked in-house, in private practice, in...

The validity of options under securities law

By Shailaja Lall and Shivangi Talwar, Shardul Amarchand Mangaldas & Co
The Bombay High Court, in Edelweiss Financial Services Ltd v Percept Finserve Pvt Ltd and Ors, held that a put option in a share purchase agreement (SPA) was neither a forward contract, nor a...

Searching for answers in new FDI proposal

By Vineetha MG and Srabonee Roy, Samvad Partners
On 28 August 2019 the government announced its new proposal on Foreign Direct Investment (FDI). While the announcement has been made, the fine print of the proposed changes to the existing FDI policy has...

Enforcing PPA: Guarding against unilateral change

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
Private sector participation in power generation has been at the core of power security in the last two decades, with independent power producers (IPP) currently owning 46% of the total installed generation capacity in...