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[Guest Post by Gaurav Pingle] The author is a practicing Company Secretary and runs his own CS firm, Gaurav Pingle & Associates, Pune. Background Section 23 of the Companies Act, 2013 (“the Act”) relates to ‘public offer and private placement’. According to the said provision, a public company may issue securities to public through prospectus (i.e. Initial Public Offer/Further Public Offer) or through private placement[i] or through rights...
[By Urmil Shah] The author is a third year student of Auro University, Surat. Introduction The Ministry of Corporate Affairs on 24 March, 2020 raised the minimum threshold requirement for initiating a Corporate Insolvency Resolution Process (“CIRP”) under Section 4 of the Insolvency Bankruptcy Code (“IBC” or “the Code”) from existing Rs. 1 lakh to Rs. 1 crore by way of Notification S.O. 1205(E) as measure for combating...
[By Tanuj Agarwal] The author is a third year student of Institute of Law, Nirma University, Ahmedabad. Introduction Covid-19 pandemic has raised serious apprehensions surrounding health and safety causing a lockdown in India. The pandemic has caused a worldwide recession and has spooked investors’ sentiment. Prior to the coronavirus outbreak, Indian stock market was in full positive swing as Sensex and Nifty had reached their all-time intraday peak...
[By Shubham Jain] The author is a fourth year student of National Law University, Jodhpur. Introduction The issue of privacy and data protection was thrown into the limelight after the Justice K.S. Puttaswamy Judgement which recognized the right to privacy as a fundamental right enshrined under Article 21 of the Indian Constitution.[i] Instances like the AADHAR data leak,[ii] Cambridge Analytica and Facebook data breach;[iii] etc. raised concerns about...
[By Urja Dhapre] The author is a second year student of Institute of Law, Nirma University, Gujarat. Introduction Recent trends in corporate control [i]have shown an increase in the use of unregulated Total Return Equity Swap Agreements (“TRESA”) to eschew disclosure norms while covertly building up stakes in listed companies. Regulators from around the globe are now recognizing the challenges in governance and market distortions that potentially arise from...
[By Ekta Jhanjhri] The author is a fourth year student at Institute of Law, Nirma University, Gujarat. Introduction Stimulating foreign equity investment in the Indian landscape has always been of prime importance to the Indian Government. Thus, the Hon’ble Finance Minister (“FM”) has proposed to abolish Dividend Distribution Tax (“DDT”) in the Budget Session for financial year 2020-21. In her budget speech, the Hon’ble FM has explained that...
[By Ankit Tripathi] The author is an associate at Law Chambers of J. Sai Deepak. Recently, in the case of Ishrat Ali v. Cosmos Cooperative Bank Ltd. &Anr[i], the five judge bench of National Company Law Appellate Tribunal (“NCLAT”), departed from an earlier view taken by the three judge bench and held that action taken by a financial institution under Section 13(4) of the SARFAESI Act is not...
[By Daksh Aggarwal] The author is a second year student of Campus Law Centre, Faculty of Law, University of Delhi. Prefatory The unification of markets and interconnected commercial transactions has necessitated significant need for common law governing business deals. The United Nations Commission on International Trade Law (“UNCITRAL”) Model law on Cross-Border Insolvency (“Model Law”), adopted in 1997, is designed to harmonise insolvency laws of various jurisdictions of...