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The Fugitive Economic Offenders Bill, 2017- Government’s New Weapon to Curtail “Economic Fraud”? [Shivika Dixit] The author is a fourth-year student at National Law Institute University, Bhopal. She may be reached at [email protected]. On March 1, 2018, the Union Cabinet cleared the Fugitive Economic Offenders Bill, 2017. According to the long title of the Bill it is, “A Bill to provide for measures to deter economic offenders from evading…
Preserving the Quintessential Value of the Arbitration and Conciliation Act, 1996: Analysing the Supreme Court’s Decision in Sundaram Finance Limited v. Abdul Samad. [Megha Tiwari and Amrit Singh] The authors are fourth-year students of WBNUJS Kolkata. Arbitration has evolved as an efficacious alternative to litigation for settlement of disputes, and is now considered an important tool in promoting investment in Indian businesses. The recent amendments to the Arbitration…
Two Indian Parties can Choose a Foreign Seat of Arbitration and a Non-Signatory to the Arbitration Agreement can be Made Party to the Arbitration Proceedings: Delhi High Court in GMR Energy. [Devina Srivastava] The author is a third-year student at Symbiosis Law School, Pune. She may be reached at [email protected]. The Delhi High Court delivered a important judgment on 14th November, 2017 in the case of GMR Energy Ltd. v.…
The Precarious Nature of Earn-out Clauses in Share Purchase Agreements. [Prajoy Dutta] The author is a fourth-year student at Institute of Law, Nirma University. The merger and acquisitions market in India has seen some exceptional activity in the recent years,[1] especially in cases of start-ups. Concerns usually revolve around the valuation of the company, the purchase price that both parties can agree on, and the issue of control…
Understanding the SEBI Order in the Matter of PwC. [Udyan Arya] The author is a fourth-year student at National Law Institute University, Bhopal. On January 10, 2018, the Securities and Exchange Board of India (“SEBI”) passed an order against accounting firms practicing under the brand Price Waterhouse (“PwC”). The order bars PwC from issuing audit and compliance certificates to listed companies for a period of two years and…
Looking Through the Prism of the Bombay High Court Judgment in Chief Controlling Authority v. RIL: An Analysis of the Issue of Stamp Duty. [Gauri Nagar] The author is a third-year student at Ram Manohar Lohiya National Law University, Lucknow. A recent celebrated decision of the Bombay High Court in Chief Controlling Revenue Authority v. Reliance Industries Limited (“RIL“) (judgment dated 31st March, 2016) has essentially ignited a debate among…
The Insolvency and Bankruptcy Code (Amendment) Bill, 2017: Key Highlights and Implications. [Mudit Nigam] The author is a third-year student of National Law Institute University, Bhopal. The President of India, in exercise his power under Article 123 of the Constitution of India, promulgated the ordinance titled the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 (“Ordinance”). The purpose of the Ordinance was to strengthen the insolvency resolution process by disqualifying certain…
Condonation of Delay Scheme: Testing the Utility. [Tushar Behl and Priyanka Sharma] The authors are third-year students of School of Law, University of Petroleum and Energy Studies, Dehradun. They may be reached at [email protected]. The Companies Act, 2013 (‘‘Act’’) has been in need of a substantial revamp for some time now, to make it more contemporary and relevant to the corporate world. The changes in the Act have long…
