Search results: Companies Act

The online gaming industry, particularly real money gaming, has grown significantly. At the same time, the industry has experienced uncertainty and disruption, leading to an increased need for regulation and guidelines. The Ministry of...

Indemnities from founders of investee companies have always been heavily negotiated at the time of venture capital investments. With venture capital investments becoming increasingly common, the framework for the indemnities that investors expect from...

Under section 138 of the Negotiable Instruments Act, 1881 (NI Act), if a dishonoured cheque is not subsequently met or paid, the issuer of the cheque will have committed an offence. Where the defaulter...

India’s automotive industry is undergoing a radical shift by switching to more energy efficient forms of transport. This has led to growth in the electric vehicle (EV) sector. As the industry is growing, the...

In two judgments delivered earlier this year, the Supreme Court has settled disputes over the change in law clauses in power purchase agreements that have been on-going between generation companies and distribution companies (DISCOM)...

Tapan Pati joins Godrej & Boyce, a flagship company of the Godrej Group, as its senior vice president and general counsel, leading a legal team comprising 31 lawyers. Pati has 23 years of experience advising...

Unmanned aerial systems (UAS) or drones are the future of flight. With advancements in electronics and cameras and their integration with AI and machine learning systems, drones have come a long way. From reconnaissance...

Is the liberalisation of India's education sector a lesson in how not to open a market? Indrajit Basu reports. In early January, India approved a plan to allow foreign universities to open campuses in the...

What awaits in-house counsel when they are tasked with building a legal department for a startup? Katherine Abraham reports With India’s population surpassing China’s this month, as per UN data, the government must ensure that...

Surety insurance bonds are adding a level of sophistication to India’s insurance sector while strengthening infrastructure development and the economy at large. Puneet Gupta and Akash Singh examine this insurance product and the steps...

India has opened its legal market, but regulatory uncertainties and domestic opposition give foreign law firms pause for thought. By Freny Patel India’s Bar Council has at last agreed with repeated calls from the international...

Recognising and rewarding exceptional legal work. Katherine Abraham reports India’s legal industry is experiencing a surge in activity, driven by increased deal-flow and record-breaking IPOs. While the most recognised law firms continue to dominate on...

Widening the ambit of the Prevention of Money Laundering Act, the Finance Ministry has tightened the reporting norms for non-profit organisations and beneficial ownership rules. The changes, brought about by an amendment to the Prevention...

JSA advised Torreya Holdings in the 100% acquisition of Torreya Partners by Stifel Financial Corp for an undisclosed amount. The transaction team from JSA consisted of lead partner Rupinder Malik, partner Rajul Bohra, senior associate...

JSA advises US-based Mobiv Acquistion Corp in a USD409 million SPAC merger with Coimbatore-based Srivaru Holding, which will see the Indian firm list on the Nasdaq. Mobiv is a Nasdaq-listed special purpose acquisition company (SPAC) that focuses on electric vehicles, while...

Mergers and acquisitions (M&A) in the real estate sector should be set against the overall M&A landscape. Overall numbers show a slowdown in M&A deals during the first quarter of 2023, with global market...

As India received its legal structure from England, it is not surprising that many India companies in international disputes choose the jurisdiction of England and English law as the governing law. Language and legacy...

Aarna Law promotes advocate Apoorva Guruprasad as head of the firm’s litigation practice. Guruprasad has more than 15 years of experience in civil and commercial litigation and has appeared before the Supreme Court of India, various high courts, district courts and tribunals. Guruprasad has also...

Government eyes tax potential of skill-based online games The past few years has seen the emergence of fantasy sports and skill-based online games, which have taken a hold in India. Driven by a confluence of...

In lending transactions, standard practice is to obtain shortfall undertakings, that is meeting any shortfall in the repayment of the underlying facility from holding companies of the borrower or financially strong companies in the...

Big-tech regulation has gathered steam across the globe and India is no exception. While issues around data privacy and intermediary liability have long been a point of contention in this debate, active regulatory intervention...

A claim for interest allows a party to recover a loss suffered by being deprived of the use of money, which is legitimately due. In India, the award of interest is primarily governed by...

It has become the practice of consumers, in concluding their transactions, to ignore the fine print of supporting documents. Particularly in the online purchase of products and services, consumers overlook charges additional to the...

Sustained interest from private equity and venture capital investors has led India to become the third largest global startup ecosystem, with over 100 unicorns. Its digital economy is projected to reach USD1 trillion by...

During recent discussions with book running lead managers and other advisers, the Securities and Exchange Board of India (SEBI) indicated that, in an initial public offering of equity shares (IPO), it would categorise founders...

Foreign Direct Investment (FDI) is an integral part of the Indian economy. Over the years, India has emerged as a popular destination for FDI owing to its huge domestic demand, the availability of natural...

While curbs and regulation of the burgeoning online gaming industry are necessary, has the government gone too far? Freny Patel reports. A deep dive into amendments to India’s 2021 information technology rules and recently proposed...

The significant beneficial owner (SBO) regime in India was introduced by the Companies Act 2013 (act), the Prevention of Money Laundering Act, 2002 (PMLA act) and associated rules. The framework followed recommendations from the...

As gatekeepers, what can general counsel do when management make poor decisions that cause harm to the business? Indrajit Basu reports. With growing scrutiny on business owners and founders to conduct business with integrity and...

Competition regulator struggles amid M&A boom For India, 2022 continued to be a great year for M&A, with deal values soaring to USD119 billion as per data from Refinitiv – a 156% increase compared to...

Intellectual property (IP) laws have, until now, in the absence of artificial intelligence (AI), considered IP as the creation of human intellect. This foundation has been disturbed by the recent explosion in AI, which...

Personalised advertising has become a tightly focused subject in the field of data protection and consumer protection. Large, data-driven companies leverage their access to consumers’ information, tailoring advertisements and marketing, and selling them personalised...

A recent decision by the Competition Commission of India has put the lid on infringers with frivolous patent allegations There has been a proliferation of proxy wars for patent supremacy in recent years. What is...

In this edited extract from a roundtable hosted by India Business Law Journal and Ikigai Law, moderator Sreenidhi Srinivasan and a distinguished panel of global data privacy experts discuss how companies can create globally...

Government indecision on a major appointment to India's antitrust watchdog has left it in a regulatory limbo, unable to properly enforce or protect, Freny Patel reports. The government’s failure to fill the empty chairman’s seat...

In 2017, the Task Force for Climate-related Financial Disclosures (TCFD) delivered to the Financial Stability Board of the Bank for International Settlements, a set of consistent, comparable and transparent guidelines for the financial disclosure...

Have you ever wondered why your clients prefer your law firm over others? Or perhaps what they particularly dislike about your own legal services? Our survey gauges the opinions of in-house counsel around the...

India Business Law Journal reveals the standout deals and disputes of 2022 and the law firms that showed their worth in successfully concluding them Despite concerns of a resurgence in covid-19 cases at the beginning...

Securitisation is the aggregating of commercial debt and repackaging it as capital market instruments. India has separate regulatory frameworks for the securitisation of standard or performing assets, which involve banks and financial institutions, and...

The Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 (rules), read with section 14 of the Customs Act, 1962, identify undervalued imports that should be investigated further. Undervaluation leads not only...

India Business Law Journal reveals the achievements of the country’s leading in-house counsel and corporate legal teams who have been selected as this year’s winners. Katherine Abraham reports Individual AwardsTeam Awards As the In-House Counsel Awards 2023...

What are the winning traits of lawyers that make them stand out to their clients and peers? Stanley Le reports Access The List This year’s search for Future Legal Leaders begins with the winning traits of...

Global citizens and travellers extensively use online sites, social media and search engines to smooth their journeys and stays. Usually this involves no thought as to where any service provider is based or the...

India is committed to cutting carbon emissions and reaching net-zero by 2070. While this target is still far away, a more immediate government target is cutting carbon emissions by 45% from 2005 levels and...

Should India tighten its grip over international technology companies, or will this approach backfire and cause them to reconsider growth plans in India? Freny Patel reports India is entering 2023 with policy changes that could...

Raghavan Ramabadran, Bharathi Krishnaprasad and Sahana Rajkumar of tax specialist law firm Lakshmikumaran & Sridharan discuss the significant amendments proposed in the budget Apart from laying out the broad plans of the government in respect...

Arpit Choudhary, formerly with Bar & Brief Attorneys, joins ANM Global as a new partner in Mumbai to strengthen the firm’s media and entertainment practice. Choudhary has more than a decade of experience in the...

India’s growth story can be linked to the massive fund mobilisation through alternative investment funds (AIFs). These privately pooled investment vehicles raised INR6.95 trillion (USD86.81 billion) from Indian and overseas investors up to mid-2022...

The government has introduced endorsement guidelines for social media influencers to curb unfair trade practices and misleading promotions. The Department of Consumer Affairs announced the guidelines, making it mandatory for influencers to disclose promotional content...

The Securities and Exchange Board of India (SEBI) has told the Supreme Court that it is investigating the Hindenburg Research report’s claims of financial irregularities among the Adani group of companies. “As the matter is...

With a relentless demeanour and the stamina to remain in the game for longer than an Indian test opener, Lalit Bhasin discusses the finer nuances of life, law and legacy with Gautam Kagalwala He is...

Having completed a simplified takeover in seven working days under the 2003 Swiss merger act, Yashasvini Kumar, Pooja Gondalia and Bhakti Sampat look at how the approval process could be made quicker in India,...

Consistently making headlines, gaming has been a contentious subject of late. Increasing accessibility to the internet and smartphones has allowed India to become the world’s largest mobile gaming market in terms of app downloads....

Good law needs good judges. Good judges closely examine their powers to see whether they are able to provide a remedy for a clear wrong. A good judge is also imaginative, able to see...

In the recent case of Frankfinn Aviation Services Pvt Ltd v Tata Sia Airlines Ltd, an interim injunction was filed against Tata Sia Airline (the defendant) by Frankfinn Aviation Services (plaintiff) in the Delhi...

Manu Varghese is the latest partner to join the Mumbai branch of Samvad Partners and is set to focus on mergers and acquisitions, and private equity. “I feel privileged to join such a warm and...

Arpita Mukherjee, head of the legal and compliance department of Fabindia Limited, has moved to Anand and Anand as part of the latter’s expansion of its corporate practice. With more than 30 years of experience,...

Anand and Anand advised the Hamdard group of companies, which owns the well-known beverage concentrate Sharbat Rooh Afza, in its successful appeal against Sadar Laboratories for the use of its trademark Sharbat Dil Afza. The...

The National Company Law Appellate Tribunal (NCLAT) delivered a landmark judgment in a cartelisation case where it ordered the CCI to review fines imposed on five domestic tyre manufacturing companies and the Automotive Tyre...

Finding the right share-based compensation structure for promoters of startups that, at the same time, protect the interests of financial investors is challenging. While the goal is the same, that is to keep promoters...

Christopher Manoharan and Ramasamy Santhanakrishnan have joined Kochhar & Co at its Chennai office as senior partner and partner, respectively. Manoharan specialises in corporate commercial transactions, venture capital and private equity transactions, joint ventures, trademark...

Based on an extensive survey of in-house counsel and international legal professionals, we reveal India’s most recommended lawyers. Chandu Gopalakrishnan reports Access the A-List 2022-23 There is nothing more satisfying than becoming a lawyer if you...

The principle of one share, one vote was the gold standard of corporate governance in the 20th century. However, more elaborate capital structures, involving shares with differential rights, have gained global popularity over the...

While the term takeover is not formally defined, the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (takeover code), defines acquisition as “directly or indirectly, acquiring or agreeing to acquire shares or voting...

Employers inevitably process large amounts of personal and sensitive information about employees. While most data are collected for standard business purposes, such as payroll and the provision of insurance, the pandemic has seen a...

Netflix India’s former director and counsel Priyanka Chaudhari is launching her independent practice after achieving “great success” in defending the American streaming service and its content in courts, regulatory forums and investigations. Christened as Priyanka...

Disruption fuelled by global uncertainty has pervaded the dynamics of the legal workforce, with lawyers across Asia not hesitating to seek out new positions. Freny Patel dives into the reasons behind this trend In his...

The world of commercial transactions contains numerous unique intricacies, many of which are yet to be statutorily regulated. More particularly, the principle laid down in Section 141 of the Negotiable Instruments Act, 1881 (NI...

Fierce campaign to tame online space The digital sphere has been firmly in the sights of the government. When the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, were announced last year,...

As the world acknowledges the real threat of global recession, where and how a Company should invest has never been more challenging. General counsel hold the keys To unlocking opportunity, and more than ever...

A climate of competition has kept legal fees stable as lawyers strive to provide certainty and prove their credibility. Vandana Chatlani reports Over the years, clients have become sophisticated buyers of legal services in...

In 2022, it seems bizarre that in-house counsel may not carry a bar licence owing to an antiquated law that dates to the middle of last century. Freny Patel looks at the battle for...

Cybersecurity directions from the country’s computer emergency response body in effect since late September have been decried by the industry for overreach and compliance burdens. Is the outcry being heard? Indrajit Basu reports I ndia’s efforts...

Michelin’s zonal legal head in India, Nandita Khurana, is moving on to set up an independent practice after a more than decade-long career with the tyre giant. After working at Michelin for more than 14...

Banking specialist Sharmil Bhushan joined Kochhar & Co as a partner and brought along her team from HSA Advocates in Mumbai on 29 November. Bhushan specialises in banking and finance, debt restructuring and insolvency, mergers...

Mohit Abraham, Uber's former director of regulatory affairs for North America, joined Sequoia India as chief legal officer in early November, succeeding Siddharth V Rao. Before his move to Sequoia, Abraham was a legal aide...

By recognising the state government as a secured creditor, the Rainbow Papers judgment exposes the Insolvency and Bankruptcy Code to incongruous uncertainty Promulgation of the Insolvency and Bankruptcy Code, 2016 (IBC) brought much cheer to...

Shantanu Singh, former principal associate at DSK Legal in New Delhi, has joined one of India’s largest integrated electricity companies, Tata Power, as the group head of legal. Tata Power is part of the USD128...

After establishing the legal, ethics and compliance division for Rolls Royce and spending almost four years at its Indian subsidiary, Roop Loomba has returned to Loomba Legal Services, the family law firm she co-founded...

The Reserve Bank of India (RBI) released a new regulatory framework for Asset Reconstruction Companies (ARCs) on 11 October allowing them to be resolution applicant (RA) entities under the Insolvency and Bankruptcy Code, 2016...

Changes proposed to competition act see mixed response The introduction of the Competition (Amendment) Bill, 2022, seeks to overhaul the competition law framework in India. Several competition law practitioners have hailed the bill for its...

Cyril Amarchand Mangaldas (CAM) partner and Delhi deputy head Gauri Rasgotra will launch her independent boutique law firm early next year and is currently serving her notice period till January. “I am starting a litigation...

Juris Corp successfully represented the Competition Commission of India (CCI) in opposing the writ petitions filed by three broadcasting companies before the Bombay High Court. The three companies, Asianet Star Communications, Disney Broadcasting India and...

For general counsel, embracing responsible governance may not be easy but it is the right thing to do, writes Mike Madden, global board chair of the Association of Corporate Counsel View the Chinese version INVESTOR FOCUS...

A reassessment of opportunities and obstacles with pre-grant opposition under the Patents Act is well overdue for the benefit of innovation and the economy Historically, even before the pre-grant opposition procedure was introduced in the...

The April 2021 statement on developmental and regulatory policies of the Reserve Bank of India (RBI) noted the growth of asset reconstruction companies (ARCs), mentioning that “their potential for resolving stressed assets is yet...

Arbitration is a creature of contract statutorily backed by the Arbitration and Conciliation Act, 1996 (act), which is intended to provide quick and efficacious alternate dispute remedies. In our experience, challenging areas in arbitration...

With the worst of the pandemic behind us, and despite looming clouds in the global economy and geopolitics, India Business Law Journal’s annual market survey finds law firms in a buoyant mood on the...

India’s digital lending industry, which is expected to grow in worth to USD1.3 trillion by the end of the decade, has been subject to a clampdown by the central bank. The Reserve Bank of...

While the decision to update the competition act is commendable there are significant negatives, including the potential abuse of power, that lawyers say make the pending bill’s success anything but clear. Freny Patel reports India’s...

Former Khaitan & Co lawyer Rajat Jariwal joins Trilegal as a partner in the disputes resolution team at the New Delhi office from this month. “We expect him to play a crucial role in...

India’s vibrant digital lending sector has grown at an unprecedented rate, increasing from USD9 billion in 2009 to USD110 billion a decade later. Participants in the industry include banks and financial institutions regulated by...

In 2020-21, India attracted its highest-ever foreign direct investment (FDI) of USD81.97 billion, despite the disruption caused by the covid-19 pandemic. Indeed, according to a report released by the United Nations Conference on Trade...

The Ministry of Corporate Affairs has modified the guidelines for determining how much it costs to perform social impact evaluations for corporate social responsibility (CSR) activities, and the process for handling the unused CSR...

The Insolvency and Bankruptcy Board of India (IBBI) has made several major modifications to liquidation regulations, which came into effect on 6 September. The changes will ensure better stakeholder participation, cut back on delays...

Cyril Amarchand Mangaldas (CAM) names Jian Johnson as partner under its finance practice team and will report from the Mumbai office. Johnson previously was the senior head of the corporate legal group at ICICI Bank,...

Environmental social and governance (ESG) factors are increasingly important both globally and in India. ESG investments are now a separate investment class and private equity and venture capital investors often require ESG compliance by...

Amit Kataria joins King & Spalding as a partner in the firm’s corporate, finance and investments (CFI) practice at the London office, and will also spend time at the New York branch. Previously, he was...

The Supreme Court’s judgment in the case of Vidarbha Industries Power v Axis Bank opened a Pandora’s box earlier this year when it unsettled a long established practice of the adjudicating authority admitting insolvency...

Vasanth Rajasekaran, former equity partner at Phoenix Legal has established independent litigation practice Trinity Chambers, with his colleagues Saurabh Babulkar and Harshavardhan Korada. Trinity Chambers founder Rajasekaran served as a partner for five years at...

Fears of raids and asset seizures have turned the Directorate of Enforcement into a veritable bogeyman for India inc, writes Freny Patel T he Directorate of Enforcement (ED), India’s most powerful crime-fighting agency, makes daily...

IndusLaw advises urban mobility app Yulu in raising USD82 million from a series B investment led by US-based Magna International, which had Cyril Amarchand Mangaldas (CAM) as counsel. The team at IndusLaw comprised senior partner...

The component of interest has played a significant role in the admission of a company into insolvency where the required monetary threshold is partially unmet. The question that arises in these situations is whether...

Rohan Singh has joined Fox Mandal & Associates as a partner under the firm’s corporate and M&A practice in Mumbai. He had been counsel at Trilegal prior to this, while he previously worked at Nishith...

A look back at the past five years shows that GST hasn't been the game-changer that was promised. Shivanand Pandit reports Five action-packed years, 47 GST council meetings, manifold tax rates, and several boundaries set...

Argus Partners, AZB & Partners, Cyril Amarchand Mangaldas (CAM) and Shardul Amarchand Mangaldas (SAM) advised parties in the INR7.75 billion (USD79 million) raised in fresh funding for fintech firm EarlySalary. Argus Partners assisted the existing...

DSK Legal, Cyril Amarchand Mangaldas (CAM) and Link Legal advised in India amusement park Imagicaaworld Entertainment’s debt restructuring that saw Malpani Group acquire a 66.5% stake in its rival. Malpani’s acquisition in Imagicaaworld is valued...

Soaring valuations and constant innovation have made the start-up landscape in India extremely competitive. Not only has this led to an increased demand for executive talent but it has also led to a more...

The government has introduced the Electricity (Amendment) Bill, 2022 (new bill) to amend the Electricity Act, 2003 (act). A similar attempt in 2020 (2020 bill) was shelved following the farmers’ protests. The new bill...

Businesses falling under the ambit of the goods and services tax (GST) with a turnover of INR100 million (USD1.2 million) are now required to generate e-invoices for their transactions starting 1 October 2022. The...

Consistent with its customer-protection orientation, and its hawkish stance towards the fintech sector, the Reserve Bank of India (RBI) set up a working group in January 2021 to evaluate “digital lending including lending through...

In the recent case of MIHAN India Ltd v GMR Airports Ltd and Ors, the Supreme Court confirmed that no public body or authority may act in an arbitrary manner merely because it has...

In June 2022, India and Japan held a high-level virtual cyber dialogue. The joint secretary of the Cyber Diplomacy Division of the Ministry of External Affairs led the India side, which included ministries such...

OYO (Oravel Stays) senior legal adviser Tejal Patil has joined Wipro as the general counsel and senior vice-president. She has nearly three decades of experience in legal, governance and compliance across the Asia-Pacific region. Patil...

There are two different rulebooks for dealing with anti-competitive behaviour around the world. Respected legal academic Souvik Chatterji analyses the differences from an India perspective and explains how one makes for quicker and more...

Supreme Court gives teeth to copyright penalties The Supreme Court’s judgment in the recent matter of Knit Pro International v State of NCT of Delhi is likely to assuage the demands of Western nations that...

A new cyber scam is targeting top brands’ websites to sell fake dealerships and franchise offers. While the courts are helping by making such offences cognisable and non-bailable, brand owners must up the ante...

ANM Global has promoted Anushree Rauta, head of its media and entertainment practice, to equity partnership at the firm. She joined the law firm in 2018 and has helped ANM Global to become one...

As business and travel edge back to normal after the pandemic, which foreign law firms are leading the field with their India offerings? Vandana Chatlani finds out See earlier editions of this report F ollowing a swift...

Companies cannot grant employee stock options (ESOPs) to promoters under Indian law. This restriction is set out in rule 12 of the Companies (Issue of Share Capital and Debenture) Rules, 2014 (rules) and Regulation...