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[By Mainak Mukherjee] The author is a student of National Law University and Judicial Academy, Assam. Introduction The Securities Exchange Board of India (SEBI), through its Consultation Paper dated May 18, 2023, has proposed an amendment to the definition of Unpublished Price Sensitive Information (UPSI) as outlined in the SEBI (Prohibition of Insider Trading) Regulations, 2015 (PIT). This proposed amendment seeks to incorporate the term “material events”...
[By Ansruta Debnath and Shubham Singh] The authors are students of National Law University Odisha. INTRODUCTION In the recent case of Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma and Ors. v. Union of India, the court has used the doctrine of hands-off to refuse to interfere with the waterfall mechanism in the Insolvency and Bankruptcy Code, 2016 (“IBC”) which it categorised as an economic legislation....
[By Riva Khan] The author is a student of Hidayatullah National Law University. INTRODUCTION SEBI has unveiled its proposed regulatory reforms for Alternative Investment Funds (AIFs) in India through five consultation papers released on February 3, 2023. Seeking public feedback, these papers outline the next level of reforms SEBI is planning for AIFs. The proposed changes include enhanced regulatory norms that aim to improve investor protection and...
[By Mansi Verma] The author is a student of Gujarat National Law University. Introduction Bank locker facilities continue to hold the popularity of bank’s customers as a secured safety vault guarded by the bank’s infrastructure. They keep the customer’s valuables, and any changes in such facilities’ operation directly impact the hirer. In this blog, the author primarily seeks to analyse how the new liability clause recently implemented...
[By Sehaj Mahajan] The author is a student of Bharati Vidyapeeth University, New Delhi. Introduction Recently, the Indian leniency regime has displayed a fair bit of uncertainty on a particular proposition i.e. Whether or not an admission of guilt is necessary in case of a lesser penalty application. On 27 June 2017, the Competition Commission of India (CCI) in Suo Motu Case No. 06 of 2017 (Beer...
[By Yuvraj Sharma] The author is a student of School of Law, Narsee Monjee Institute of Management and Studies, Hyderabad. Introduction In a nine-page ruling, the Securities Appellate Tribunal (SAT) criticises SEBI’s approach to disclosure-based laws, which allows corporations that have committed wrongdoing to be exonerated if they gain post-facto approval from their shareholders. This ruling creates a problematic precedent by allowing businesses to seek approval for...
[By Aisha Singh] The author is a student of Chanakya National Law University (CNLU), Patna. Introduction The Indian President’s approval of the Competition (Amendment) Act, 2023, is set to bring significant changes to the merger review procedure employed by the Competition Commission of India (CCI). With amendments aimed at simplifying the notification process, establishing deal value thresholds, and shortening the review window, this new legislation promises to...
[By Yash Arjariya] The author is a student of Hidayatullah National Law University. Introduction Section 5(21) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC”) explains operational debt as a claim made in respect of ‘goods and services’. The earlier jurisprudence developed by the National Company Law Appellate Tribunal (hereinafter referred to as “NCLAT”) in M. Ravindranath Reddy v. G. Kishan & Ors and...