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[By Subodh Asthana and Madhur Bhatt] The authors are students at Hidayatullah National Law University. The definition of a “Consumer” under section 2(7) of the Consumer Protection Act (“Consumer Act”) 2019 seeks to exclude any transaction consummated for “commercial purpose” with an exception afforded to the purchase of goods for self-employment. Conversely, Section 2(1)(d) of the Consumer Act 1986 after the Amendment Act of 2002 did provide an…
[By Ashish Kumar Jha] The author is a student at Gujarat National Law University. Introduction The recent acquisition of Ambuja Cements and its subsidiary ACC cement from the Swiss company has been in the limelight for a while. According to CEO Holcim, Jan Jenisch, the transaction worth USD 6.38 billion is totally tax-free. Since then, the structure of this tax-free transaction has perplexed everyone. This article tries to…
[By Vaibhav Kashyap] The author is a student at the National Law University, Odisha. Background The 101st Constitution Amendment was inserted to make the necessary constitutional changes to allow the functioning of the GST regime. The GST Acts brought about a long-standing change in the indirect taxation policy of the country. The main thrust point of these changes was the uniformity in the taxation structure of the country,…
[Ayush Shandilya] The author is a student of National Law University, Odisha. Introduction The Initial Public Offering (“IPO”) of Life Insurance Corporation (“LIC”) was announced during the annual budget session of 2020 but it took the Government a little over two years to finally come up with the IPO. The delay in the IPO could be attributed to the pandemic situation that had disrupted the market along with…
[Priyanshi Jain and Nehal Misra] The authors are students of Institute of Law, Nirma University. Introduction Elon Musk, governing the tech fiefdom, has recently signed a deal to buy Twitter. The deal has been closed at $44 billion. Since the finalization of deal a contrasting relationship has been developed between the tech mogul and Twitter. To begin with, he has criticized Twitter’s board over past performances and has even trolled…
[Sourav Paul] The author is a student of West Bengal National University of Juridical Sciences. Tracing the Judicial Approach to Sale of Secured Assets: A Marked Shift Towards the Doctrine of Caveat Venditor Traditionally, the Indian courts have applied the caveat emptor doctrine while adjudicating the on the part of the secured creditors. The Indian courts adopted this position, i.e., to protect the secured creditors, primarily because it…
[Sourav Paul] The author is a student of West Bengal National University of Juridical Sciences. Introduction The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’) is one of the prominent laws in the long list of debt recovery and restructuring legislation enacted by the Indian Parliament. While introducing the Bill, the then Finance Minister said, “[t]his Bill is essentially for securitisation…
[Mehak Jain and Aditi Ghosh] The authors are students of Hidayatullah National Law University, Raipur. Introduction Post Covid-19, there has been a regime shift in terms of investing in IPOs because of the frenzy created by newer investors in the market. IPO financing is a tool majorly used by High Networth Individuals (‘HNIs’) to leverage funds for a short-period of time for the purpose of investing in IPOs.…