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[By Aayush Khandelwal and Abhinav Gupta] The authors are students at National Law University, Jodhpur. Introduction Valuation of share during an open offer has been a constant subject of disputes. The acquirer and shareholders are often at loggerheads in relation to the offer price. Where the acquirer seeks to reduce its cost of acquisition, shareholders seek to extract most out of the exit opportunity. This has led to…
[By Anchit Nayyar] The author is a student at Symbiosis Law School, Pune. The Competition Commission of India (“CCI”) vide its prima facie order dated 16th April 2019 in the case of Umar Javed v. Google LLC has initiated investigations into potentially anti-competitive practices adopted by Google with respect to the Android Operating System(“OS”) and its suite of proprietary mobile applications. The investigation is closely modelled after similar…
[By Manvi Khanna] The author is a student at National Law University Odisha, Cuttack. Introduction Technological innovation in the financial sector is transforming the way financial services are provided across the globe. The Indian financial sector is similarly on the cusp of change, as evidenced by the runaway success of the National Payments Corporation of India’s United Payments Interface (UPI) which recently crossed the hundred million user threshold…
[By Abhinav Gupta and Aayush Khandelwal] The authors are students at National Law University, Jodhpur. Introduction The Securities and Exchange Board of India (‘SEBI’) on August 19, 2020, issued a consultation paper to rejig the threshold for minimum public shareholding (‘MPS’) in companies which have undergone a resolution process under the Insolvency and Bankruptcy Code, 2016 (‘IBC’) and seek to relist following the resolution process. To enable MPS…
[By Prashansa M. Agrawal] The author is an Advocate practicing in the High Court of Bombay. Recently, in the judgment dated 14th August 2020 in Babulal Vardharji Gurjar v. Veer Gurjar Aluminium Industries Pvt. Ltd. & Anr., the Supreme Court decided that the application filed by the financial creditor therein was not barred by limitation. While pronouncing the decision, the Supreme Court reasserted the settled aspects of limitation…
[By Amay Bahri] The author is a student at the National Law University, Delhi. Like any new legislation which is introduced, even the Insolvency and Bankruptcy Code 2016 (hereinafter ‘IBC’ or ‘the code’) has been marred by litigation since its inception. One of the more recent discussions on IBC is regarding the power of the creditor against guarantors of a corporate debtor. This discussion becomes all the more…
[By Mahima Chhabrani] The author is a student at West Bengal National University of Juridical Sciences, Kolkata (WBNUJS). Introduction Section 26(1) of the Competition Act, 2002 (hereinafter Act) confers power on the Competition Commission of India (hereinafter CCI) to order an investigation when it finds prima facie contravention of the Act. The said investigation is in no way final but a mere departmental inquiry to dig deeper into…
[By Tvishi Pant and Alefiyah Shipchandler] Tvishi is a student at ILS Law College, Pune and Alefiyah is an associate at Keystone Partners, Mumbai. Introduction Contract law allows parties to stipulate a certain sum payable upon breach of a contract. Section 74 (“S. 74”) of the Indian Contract Act, 1872 (the “Act”) provides for the payment of liquidated damages by a defaulting party upon breach of contract. Although…