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[By Rohan Aneja] The author is a student at Rizvi Law College, Mumbai The Reserve Bank of India (“RBI”) issued Guidelines for the entry of new banks in the Private Sector dated January 3, 2001 (“2001 Guidelines”) which required promoter contribution to be a minimum of 40% of the paid-up capital of the bank at any point of time with a 5 year lock-in period from the date...
[By Arjun Nayyar and Jayadeep Manchikalapudi] The authors are students at NALSAR University of Law, Hyderabad and Hidayatullah National Law University, Raipur, respectively. Setting the Context Recently, allegations over Google’s actions have brought it under the scrutiny of the Competition Commission of India.[i] With an appeal against a previous anti-trust order still pending in the Apex court, the internet giant has been flagged this time for promoting its payment...
[By Aniket Singh and Pranav Mihir Kandada] The authors are students at NALSAR University of Law, Hyderabad. Introduction In M&A transactions, a “break fee” agreement is an arrangement between the target company and the potential acquirer. In this arrangement, the target company promises to pay a certain fee to the potential acquirer in case the offer from the acquirer does not go through for any given reason. Such...
[By Kirti Gupta] The author is a student a Hidayatullah National Law University, Raipur. Introduction The Insolvency and Bankruptcy Code, 2016 (the Code) promises to deal with the mammoth task of stabilising the Indian economy in this era of peculiarly volatile market conditions. The Preamble of the Code, enumerates the objective which strives to reform the insolvency framework and aid the transition from debtor to creditor centric regime....
[By Akshita Totla and Nikunj Maheshwari] The authors are students at Institute of Law, Nirma University. Introduction The Insolvency and Bankruptcy Code (IB Code) was enacted for the resolution of the corporate debtor so that it continues as a ‘going concern’[i]. The doctrine of clean slate is one of the means to achieve this objective of the revival of the corporate debtor. This doctrine states that post the...
[By Aman Sadiwala] The author is a student at National Law School of India University, Bengaluru Introduction The Insolvency and Bankruptcy Code, 2016 (“IBC”) provides the insolvency resolution process for corporate persons in Part II. Section 3(7) of the IBC defines “corporate person” and specifically excludes any financial service provider (“FSP”) from its ambit. Section 3(8) defining “corporate debtor” qualifies this ‘corporate person’ as one who owes a...
[By Ashna Chhabra and Anuja Chaudhury] The authors are students at ILS Law College, Pune Introduction The Ministry of Corporate Affairs published the Draft Competition Amendment Bill, 2020[i] on 12th February 2020 based on the recommendations of the Competition Law Review Committee (CLRC). One of the proposed changes is the insertion of S.4A which extends the Intellectual Property Rights (‘IPR’) exemption to abusive practices by dominant enterprises under...
[By Shreya Chandhok] The author is a student at National Law Institute University, Bhopal Introduction The Covid-19 pandemic has pushed the global economy into a slump, leading to a shrinking economy with weakened growth. The increased uncertainty caused by the disruption in demand and supply chains is discouraging transactions, leading to companies filing for bankruptcy worldwide. Even though the government and the competition authorities are working towards providing...