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P-Notes 2.0: Analyzing SEBI’s Proposed Ban on Derivative-Based ODIs

October 18, 2024

[By Vaibhav Kesarwani & Rudraksh Sharma] The authors are students of Gujarat National Law University, Gandhinagar.   Introduction The issues related to Offshore Derivative Instruments or Participatory Notes commonly known as P-notes have been under discussion in the Indian regulation system for more than a decade and a half now. These instruments enabled the foreign investors to trade in the Indian securities without the requirement of obtaining registration…

Unlocking Credit With Digital Payments: Analyizing NPCI’s Proposed Digital Payment Scores

October 4, 2024

[By Aryan Dash & Debasish Halder] The authors are students of National Law University Odisha.   FROM UPI TO DPS: NPCI’S JOURNEY TOWARDS FINANCIAL INCLUSION India has witnessed a remarkable rise in digital payments over the past decade, facilitated by the National Payments Corporation of India (NPCI). NPCI, an umbrella organization for retail payments in India, has played a pivotal role in developing and promoting digital payment systems…

An interim Outreach: NUI Pulp and Paper Industries Pvt. Ltd. v. Ms. Roxcel Trading GMBH

October 4, 2024

[By Hamza Khan & Divyanshu Kumar] The authors are students of NALSAR University of Law, Hyderabad.   Introduction In the case of NUI Pulp v. Ms. Roxcel Trading GMBH, the National Company Law Tribunal (“NCLT”) exercised power under Rule 11 of the National Company Law Tribunal Rules, 2016 (“NCLT rules”) to prevent the Corporate Debtor from alienating or encumbering any disputed assets during the pre-admission phase of the…

Evolving Trends in Interim Distribution under IBC, 2016: Insights from the KSK Mahanadi Judgment

September 27, 2024

[By Arzoo Kedia] The author is a student of Hidayatullah National Law University.   Introduction The insolvency regime in India is governed by the Insolvency and Bankruptcy Code (“IBC”) of 2016 and has been at the forefront of innovation. IBC has spurred several novel ideas, such as specifying only one class of financial creditors voting ignoring the security, and having the operational creditors left out during the vote…

Royalty Payments Distinguished from Taxes: A Strategic Win or A Race to the Bottom?

September 27, 2024

[By Adwitiya Gupta & Suprava Sahu] The authors are students of Gujarat National Law University.   Introduction The Supreme Court in Mineral Area Development Authority v M/s Steel Authority of India, by an 8:1 majority, overturned the 1989 decision, which decreed that royalties paid by miners on minerals are a tax. This decision gives states the power to tax mining activities, through which the states can now collect…

​​​The Tempest of GAAR-SAAR: A Symphony or Cross Road for Tax Avoidance?

September 25, 2024

[By Vibhor Maloo & Shubhanshu Dubey] The authors are students of HNLU, Raipur.   Introduction As tax evasion tactics become more sophisticated, India’s legal framework is changing significantly. The recent Telangana High Court (HC) ruling has initiated a debate on whether ​​General Anti-Avoidance Rules’ (GAAR) pervasive powers, which empower tax authorities to scrutinize and invalidate transactions primarily aimed at avoiding taxes, even if they comply with the letter…

Expanding Horizons: Payment Banks and Strategic Partnerships

September 25, 2024

[By Dhawni Sharda & Anshika Agarwal] The authors are students of National Law University Odisha.   INTRODUCTION   Through Budget 2024, the Government of India has pioneered an ambitious objective to set up over a hundred Payment banks as a significant step towards financial inclusion and security. These banks have been a modicum between the formal banking institutions and the unbanked population. This fosters greater financial literacy, encouraging savings…

From Green Bonds to ESG debt: SEBI’s new blueprint for sustainable finance 

September 14, 2024

[By Tejas Venkatesh] The author is a student of Jindal Global Law School.   Introduction On 16th August 2024, the Securities and Exchange Board of India (“SEBI”) released a consultation paper on Expanding the Scope of Sustainable Finance Framework in the Indian Securities Market. The purpose of the paper is to solicit public comments on the appropriateness and adequacy of the proposed new framework for ESG debt securities…

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