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Swain leaves HSA to resume operations at DLS, Dipti Lavya Swain

Swain leaves HSA to resume operations at DLS

Dipti Lavya Swain, a partner at HSA Advocates in New Delhi, is resuming his independent practice, DLS Law Offices – the firm whose New Delhi and Mumbai offices he had merged with HSA. DLS  started...
India Business Law Journal

Strength during adversity

Enduring challenges amid a perfect storm The country is in the midst of grappling with unfavourable circumstances such as high unemployment and high inflation. Together these can potentially become as disruptive as the pandemic, but...
Policy for mined out coal lands approved

Policy for mined out coal lands approved

The federal cabinet has approved a policy for acquiring land parcels that are mined out or unsuitable for coal mining purposes to increase investment and create job opportunities in the coal sector. The land-use policy...
RBI increases responsibilities of loan transfer parties, Aditya Vikram Dua, Parvathi Menon

RBI increases responsibilities of loan transfer parties

By Aditya Vikram Dua and Parvathi Menon, SNG & Partners
The Reserve Bank of India (RBI) issued the Transfer of Loan Exposures Directions, 2021 (directions) in September 2021, which prescribe a comprehensive and robust framework to facilitate the sale, transfer and acquisition of loan...
Shaky Ground

Shaky ground

A spate of defaults at several prominent real estate companies has left creditors and homeowners on shaky ground, with several challenges awaiting them at the insolvency court, writes Vineeta Bansal When Supertech, one of the...
Price of protection

Price of protection

India's proposed data protection regulation demands data localisation and restricts cross-border transfers, promising economic benefits for the broader economy, but imposing big cost and logistical challenges on Indian and international companies, write K Satish...

Comply with AI

The automation of compliance processes can keep companies up to date with a constantly evolving regulatory environment and out of trouble with the law, writes MP Birla Group’s Subhadeep Bhowmik. Adhering to statutory compliance is...
Eyes-wide-shut-L

Eyes wide shut

The decision to exempt mergers below certain thresholds from the CCI’s gaze has starkly divided opinions among competition lawyers, writes Freny Patel A lot is riding on the government extending the de minimis exemption benefit...
Who dares wins, but not at our expense

Who dares wins, but not at our expense

By Sawant Singh and Aditya Bhargava, Phoenix Legal
To align the regulatory framework for non-banking financial companies (NBFCs) with mainstream governance practices, the Reserve Bank of India (RBI) introduced a scale-based regulatory framework for NBFCs in October 2021. This included governance-related requirements. The...

Ignoring precedent risks stability in real estate

By Pratik Ghose and Avishek Roy Chowdhury, HSA Advocates
The concept of precedent and the binding effect of precedents set by higher courts on lower courts is one of the cardinal bases on which the judiciary functions and the doctrine of stare decisis...
Pricing dilemma in acquisitions by foreign owned companies, Anshuman Mozumdar, Ankur Kumaris

Pricing dilemma in acquisitions by foreign owned companies

By Anshuman Mozumdar and Ankur Kumar, L&L Partners
Rule 23(1) of the Foreign Exchange Management (Non-Debt Instruments) Rules 2019 (rules) provides that investments by foreign-owned or controlled companies (FOCC) in an Indian company shall be subject to “entry route, sectoral caps, pricing...

Indian Law Firm Awards 2022

In a celebration of hard work, ingenuity and excellence, India Business Law Journal reveals the winners of the 2022 Indian Law Firm Awards. Vandana Chatlani reports In the past 12 months, India’s lawyers have rediscovered...
Kumar joins Flipkart as legal M&A head, Manisha Kumar

Kumar joins Flipkart as legal M&A head

Manisha Kumar has joined Flipkart as vice president and legal head of merger and acquisitions.  She joins from Cyril Amarchand Mangaldas, where she was a partner, and has more than 20 years of experience. “It...
Raina new partner in Panag & Babu promotions, Shruti Raina

Raina new partner in Panag & Babu promotions

Shruti Raina has become a partner and seven other lawyers associates as The Law Offices of Panag & Babu makes its annual promotions. Raina, who is based at the New Delhi office’s litigation and dispute...
India Business Law Journal

Building trust

No legacy as rich as honesty The world’s richest man Elon Musk’s move to take over Twitter has the world engrossed. Twitter’s hope of finding a white knight, a counter-offer to fend off Musk’s hostile...
MICECA – Key to expanding India-Malaysia economic and trade ties

MICECA – Key to expanding India-Malaysia economic and trade ties

By John Rolan and Lim Siaw Wan, Christopher & Lee Ong
On 2 April 2022, Australia and India signed their highly anticipated Economic Co-operation and Trade Agreement (ECTA), six months after negotiations between the two nations restarted in September 2021. The ECTA is seen as...
Khaitan,-Sam-oversee-Inox-PVR-deal

Khaitan, SAM oversee Inox PVR deal

The Indian cinema industry is set for a mega transformation as two big multiplex owners with 1,500 screens decide to merge their businesses. Inox Leisure will buy out PVR, the country’s market leader in terms...
Telangana state picks IAMC as Arbitration Centre

Telangana state picks IAMC as arbitration centre

The law department of the Telangana state government issued an order designating the International Arbitration and Mediation Centre (IAMC) in Hyderabad as the arbitral/mediation institution for all contracts above INR30 million (USD393,000) where the...
Improper communication in M&A leads to trouble

Improper communication in M&A leads to trouble

By Iqbal Khan and Ambarish, Shardul Amarchand Mangaldas & Co.
The restrictions on sharing unpublished price sensitive information (UPSI) are strict and not typical of the way such information is dealt with globally. However, by now, most stakeholders are comfortable with the standard requirements...
Insolvent-financial-service-providers-a-class-apart

Insolvent financial service providers a class apart

By Abhirup Dasgupta and Bhawana Sharma, HSA Advocates
When the Insolvency and Bankruptcy Code (IBC) was introduced in 2016, an exception was made under section 3(17) for financial service providers (FSP) to prevent them from being dragged into insolvency. The legislature has...

Discoms cannot pull the plug on contracts

By Abhishek Tripathi and Shivika Agarwal, Sarthak Advocates & Solicitors
The appellate bench of the Andhra Pradesh High Court has stepped in to stop the practice of renegotiation of tariffs by power distribution companies (discoms). In the case of Walwhan Renewable Energy Limited v...
RBI recasts framework for microfinance providers

RBI recasts framework for microfinance providers

By Sawant Singh and Aditya Bhargava, Phoenix Legal
Microfinance regulation has previously focused on non-banking financial companies – microfinance institutions (NBFC – MFI), and not on other entities engaged in microfinance such as banks and other NBFCs. The Reserve Bank of India...
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Samvad promotes two to partnership

Samvad Partners has promoted counsel Neha Mirajgaoker and Sitara Pillai to partnership in their Mumbai office. Mirajgaoker focuses on general corporate advisory and PE, VC investments, and M&As. She specialises in structuring transactions focusing on...
Assured increase of FDI in the insurance sector Shinoj Koshy

Assured increase of FDI in the insurance sector

By Shinoj Koshy and Muskan Agrawal, L&L Partners
On 14 March 2022, the government issued Press Note 1 of 2022 allowing 20% foreign direct investment (FDI) through the automatic route in the Life Insurance Corporation of India (LIC) a corporation established and...
Don’t-ignore-CCI’s-teeth

Don’t ignore CCI’s teeth

A more considered approach to investigations during tough pandemic times should not be construed as less commitment from the Competition Commission of India’s plans to ensure fair competition, write its Former Chair Dhanendra Kumar...
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Monkey business

The NSE scandal comprising a mysterious Himalayan yogi, a 'group operating officer' who had never worked in the securities market, and a board that looked the other way shows that it takes only a...
For their eyes only

RBI relief for fintech’s credit report quandary

By Kaushal Mathpal
Reserve Bank of India's move to allow fintech companies to access credit information via credit bureaus is a positive move, but ownership and control issues remain unresolved, writes Kaushal Mathpal A s per the Reserve Bank...

International A-List 2022

With a remarkable spike in deal activity in 2021, who are the top 100 foreign lawyers advising clients for India-related matters? View the A-List Deal activity in India has once again reached a new record in...
Trilegal teams up with industrialists to publish environment advice

Trilegal, FICCI team up to author ESG report

Trilegal and the Federation of Indian Chambers of Commerce and Industry (FICCI) have tabled “ESG – Into the Mainstream” – a report detailing key issues that Indian industry faces if it is to meet...
India Business Law Journal

A human tragedy

There are no winners from war The Ukraine-Russia conflict has compelled nations to walk a diplomatic tightrope. While many have waited and watched in order to craft a measured response, others went swiftly down the...
India Business Law Journal

Cryptic question

Viable alternative or Dutch tulip? There should be little surprise that India continues to struggle with the knotty problem that is virtual currencies, which according to a May 2020 ruling of the Supreme Court, “elude...
Daoism: a new kind of faith

DAOism: a new kind of faith

The idea for a decentralised autonomous organisation, where the rules are baked into its code with no management structure or board of directors, has emerged with the rise of blockchain technology. Andrew Godwin examines...
Regulations to implement changes to Factoring Act

Regulations to implement changes to Factoring Act

By Sawant Singh and Aditya Bhargava, Phoenix Legal
Factoring is considered an important source of short-term and working capital financing for micro, small and medium enterprises. It enables them to obtain upfront credit for invoices raised, without over-leveraging balance sheets. Factoring is...
SEBI mulls stricter disclosure norms for tech cos

SEBI mulls stricter disclosure norms for tech cos

The Securities and Exchange Board of India (SEBI) has proposed amendments to the valuation methods adopted by new-age technology companies, such as introducing key performance indicators (KPI) besides existing disclosures in an IPO prospectus. The...
REGULATIONS STRENGTHEN GIFT CITY FUNDS INDUSTRY

Regulations strengthen Gift City funds industry

The International Financial Services Centres Authority (IFSCA), which regulates Gift City, India’s first international financial services centre (IFSC), plans to introduce single registration for all fund management activities and provide a green channel for...
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Former legal director starts ‘GC for hire’ firm

Surabhi Agarwal, the founder of litigation firm Parikh & Parikh Agarwal in Gurugram, has launched Global General Counsel to provide general counsel services to mid-sized companies. With more than two decades of experience in the...
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Between rocks & hard places

By Pan Cong, SHAREit Group
In the face of data requests from law enforcement agencies, conflicting legal requirements from home country and foreign jurisdictions are putting multinational tech companies in an unprecedented dilemma. How should they respond? Pan Cong,...
온라인 범죄행위 근절에 은행도 나서야

Court requires banks to join fight against scammers

By Manisha Singh and Simran Bhullar, LexOrbis
More cases of online scamming, phishing and fraud have come to light in the recent past. In January 2022, the Delhi High Court granted an interim order in the case of Kajaria Ceramics Limited...
Humans still required in private equity

Humans still required in private equity

By Vandana Pai and Shreya Sreesankar, Bharucha & Partners
The evolution of the global economy has been largely driven by the disrupters that have revolutionised the way people work and live. Digitisation and artificial intelligence (AI) have been hailed as triggering the fourth...
FSSAI notification gives major boost to hemp industry

FSSAI notification gives major boost to hemp industry

By Essenese Obhan and Charul Yadav, Obhan & Associates
With a socio-economic history going back 50,000 years, hemp is one of the oldest cultivated plants in the world. But for most of the 20th century, commercial hemp production was heavily restricted. This is...
Dilemma of a nominee director sharing confidential information

Dilemma of a nominee director sharing confidential information

By Bharat Vasani, Cyril Amarchand Mangaldas
Company law states that directors must fulfil their fiduciary duty and act in the company’s best interests. However, it may be challenging for a nominee director (nominee), who has also to consider the interests...

CCI now cracking down hard on cartels

By Raj Chakrabarti and Parth Mehta, Kochhar & Co.
The recent order of the Competition Commission of India (CCI) penalising a cartel has put the focus on implementing a robust competition compliance policy. The CCI held that four Japanese shipping companies, Nippon Yusen...
Collateral-Damage

Collateral damage

By George W Russell
As Russia’s invasion of Ukraine continues, India may find itself sucked into the maelstrom of an international legal community backlash against Russian businesses and transactions. And for India, there is much to lose. George...
Future Legal Leaders 2022

Future Legal Leaders 2022

India Business Law Journal identifies 50 promising lawyers who are poised for greater success Access The List In a time when demonstrating strong leadership potential is a quality essential to thriving in the legal industry, India...

Overview of CSR regime: Now spend or deposit

By Arvind Sharma and Manan Kapoor, Shardul Amarchand Mangaldas & Co.
Since the introduction of the Companies Act, 2013 (act), and the Companies (Corporate Social Responsibility Policy) Rules, 2014, there have been significant changes in the legal framework for corporate social responsibility (CSR) . From...
Tightened-norms-for-financial-institutions

Tightened norms for financial institutions

By Sawant Singh and Aditya Bhargava, Phoenix Legal
The Reserve Bank of India (RBI) has been gradually aligning the regulations applicable to banks and non-banking financial companies (NBFCs). Apart from implicitly recognising that NBFCs are fast narrowing the gap with banks in...
Plugging-into-a-more-efficient-power-sector

Power markets may finally spark into life

By Abhishek Tripathi and Shivika Agarwal, Sarthak Advocates & Solicitors
The Central Electricity Regulatory Commission (commission) in its continuing efforts to create a robust power market has introduced the Central Electricity Regulatory Commission (Power Market) Regulations, 2021 (PMR), replacing the 2010 regulations. A large number...

Giving credit greater access to data

By Shilpa Mankar Ahluwalia and Akshita Agrawal, Shardul Amarchand Mangaldas & Co.
Digital lending in India has grown exponentially over the past 24 months powered by lending partnerships between fintech platforms and regulated lenders. A key driver has been non-traditional credit analytics that rely on alternative...

Dispute resolution in India for Japanese companies

By Nishant Menon and Kavita Sarin, Kochhar & Co
The legal system in India is a combination of legislations and judicial precedents. The central government and state governments both legislate on subjects as prescribed in the constitution while judicial precedents are laid down...
Lock-in-period-to-stabilise-IPO-listing-prices

Lock-in period to stabilise IPO listing prices

By Freny Patel
Last year was a record-breaker for the Indian IPO market, with more than 60 companies raising almost USD16 billion, the highest amount ever raised in a single year. But high IPO valuations took a...
Deconstructing AI

Deconstructing AI

Hype and hysteria over artificial intelligence must be tempered to prevent knee-jerk reactions from regulators and to ensure India can reap the benefits cutting edge technology offers, write Abhivardhan and Mridutpal Bhattacharyya To its boosters,...
Haryana-L

Job quotas not yet working in Haryana

The state government of Haryana enacted the Haryana State Employment of Local Candidates Act, 2020 (act) and the Haryana State Employment of Local Candidates Rules, 2021, which took effect in January 2022. The act...
Overstepping-the-mark-L2

Overstepping the mark

The requirement to submit a test licence in the drugs and cosmetics rules goes beyond the ambit of the Parent Act, and is a hindrance to R&D for pharma companies, writes Syngene International's Shreekanth...
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News in brief

DMD gets corporate Tejveer Singh has joined DMD Advocates as a partner in its Mumbai office. Singh, who has more than 18 years’ experience, is a lawyer with dual qualifications as a chartered accountant. He...
Growing a conscience

Growing a conscience

Current events dictate that ESG considerations are increasing in importance for companies as well as regulators, warns Ashutosh Senger, lead counsel at Florence Capital The challenges faced by societies due to the pandemic and the...
A learning curve for edtech self-regulation Ashima Obhan

A learning curve for edtech self-regulation

By Ashima Obhan, Obhan & Associates
With more than a quarter of its population in the 0-14 age bracket, one of the largest higher education networks in the world and internet penetration growing strongly, it is no surprise that India’s...
India Business Law Journal

Going up

Indian markets on a high The past year has been peppered with headline-grabbing equity market offerings from the country’s financial, industrial and technology companies. That they have happened in the midst of a pandemic is...
Nokia-Lenovo-dispute-All-s-well-that-ends-well-L

Nokia-Lenovo dispute: All’s well that ends well

By Pravin Anand and Vaishali Mittal, Anand and Anand
The IP dispute provides a lesson on where parties can prioritise mutual benefits to resolve their differences, write Pravin Anand and Vaishali Mittal E arly 2021 saw Nokia and Lenovo, once embroiled in a series of...
Regulatory landscape for debt capital markets-L

Regulatory landscape for debt capital markets

By Aditya Bhargava and Sristi Yadav, Phoenix Legal
Rather than being overly prescriptive, applying an even-handed approach to regulations will better serve the SEBI’s overall goals, write Aditya Bhargava and Sristi Yadav Traditionally, debt raising in India has been skewed to borrowings from banks. From a...
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Role of SEBI in ‘year of IPOs’

By Manshoor Nazki, IndusLaw
The capital markets regulator has facilitated IPOs in 2021, but has also sought to deter large shareholders from using them as an avenue for quick company exits, writes Manshoor Nazki The year 2021 has undoubtedly been...
Deals of the Year 2021-opener_img_3

Deals of the Year

India Business Law Journal reveals the standout deals and disputes of 2021 and the law firms that worked hard to successfully conclude them Even as the covid-19 pandemic continued to severely affect both the economy...
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Running with the bulls

By Georgy Thomas
With funds raised from ipos in india at an all-time high, it is the enthusiasm of retail investors that is fuelling the charge. Georgy Thomas reports It was a record year – a stampeding bull market...
Private equity and its impact on competition Vandana Pai

Private equity and its impact on competition

By Vandana Pai and Gayatri Ramesh, Bharucha & Partners
The Competition Commission of India (CCI) is presently studying private equity (PE) investment in India in order to understand the impact that common ownership may have on competition in the relevant market. The decision...
Decoding the amended preferential allotment norms Rudra Kumar Pandey Amanjot Malhi

Decoding the amended preferential allotment norms

By Rudra Kumar Pandey and Amanjot Malhi, Shardul Amarchand Mangaldas & Co
On 14 January 2022, the Securities and Exchange Board of India (SEBI) introduced the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2022 (amended preferential allotment norms). These...
FDI a booster shot for the economy Shonali Choudhry

FDI a booster shot for the economy

By Shonali Choudhry and Srijan Srivastava, L&L Partners
In 2020, foreign direct investment (FDI) and other policies changed and ushered in a new era for the treatment of non-resident Indian (NRI) investments and income. The Ministry of Commerce and Industry in Press...
Investment-opportunities-in-ASEAN-post-RCEP-Lvideo

Investment opportunities in ASEAN post-RCEP

By Sriram Chakravarthi, Rajah & Tann Singapore
The Regional Comprehensive Economic Partnership (RCEP), the world’s largest free-trade agreement, took effect on 1 January 2022. The RCEP brings together 10 ASEAN countries, Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia,...
States-can-regulate-direct-selling-companies-L2

States can regulate direct selling companies

The government of India has notified the Consumer Protection (Direct Selling) Rules, 2021, to regulate direct selling companies and network marketing operations in the country. With the new rules, the government seeks to regulate the...
Special-situation-L

SEBI introduces special situation funds

The Securities and Exchanges Board of India (SEBI) has introduced a new sub-category under alternate investment funds to recognise special situation funds (SSFs). On 24 January 2022, the securities regulator notified the amended SEBI (Alternative...
Way paved for gold exchanges

Way paved for gold exchanges

The government of India has declared “electronic gold receipts” (EGR) as securities and notified the SEBI (Vault Managers) Regulations, 2021, paving the way for the creation of gold exchanges in India as well as...
India and Singapore relax over stressed assets Dhananjay Kumar Surbhi Pareek

India and Singapore relax over stressed assets

By Dhananjay Kumar and Surbhi Pareek, Cyril Amarchand Mangaldas
The Insolvency and Bankruptcy Code, 2016 (code) provides for the comprehensive rules-based resolution of insolvent corporate debtors, and has become a significant and successful means of stressed asset resolution. The success of the code...
M&A specialist joins White & Case in Singapore

M&A specialist joins White & Case in Singapore

Sayak Maity, a partner at AZB & Partners, has joined global law firm White & Case’s M&A practice in Singapore. Maity, who is a partner at the firm, advises global private equity funds on...
Do shareholder activists face barriers to calling meetings? Justin Bharucha Sneha Jaisingh

Do shareholder activists face barriers to calling meetings?

By Justin Bharucha and Sneha Jaisingh, Bharucha & Partners
In Zee Entertainment Enterprises Ltd v Invesco Developing Markets Fund & Ors, the Bombay High Court considered shareholders’ right to requisition a general meeting. Invesco, a shareholder in Zee, requisitioned an extraordinary general meeting to...
Shareholder disputes from a foreign investor perspective Inder Raj Gill Avichal Prasad

Shareholder disputes from a foreign investor perspective

By Inder Raj Gill and Avichal Prasad, Kochhar & Co
Investing in India can be challenging, with myriad central and state level laws, as well as cumbersome sector-specific requirements. Often, foreign investors seek relationships with local promoters to overcome these hurdles. However, difficulties increase...
RBI further extends deadline for deletion of card-on-file data Shilpa Mankar Ahluwalia Shobhit Shukla

RBI further extends deadline for deletion of card-on-file data

By Shilpa Mankar Ahluwalia and Shobhit Shukla, Shardul Amarchand Mangaldas & Co
On 23 December 2021, the Reserve Bank of India (RBI) further extended for six months the deadline for removal of card-on-file (CoF) data. Payment aggregators (PAs) and merchants may thus continue to store customer...
SEBI-revises-related-party-disclosure-requirements-L

SEBI revises related party disclosure requirements

The Securities and Exchange Board of India (SEBI) has issued amendments to disclosure requirements on related party transactions (RPTs) for listed companies. The new requirements will come into force with effect from 1 April 2022....

Scale-based regulation for NBFCs – A pragmatic approach

By Nishtha Arora and Soumyajit Mitra, SNG & Partners
Recognising the contribution of non-banking financial companies (NBFCs) to the banking system and the need to review the existing regulatory framework due to their changing risk profile, the Reserve Bank of India (RBI) in...
IBC offers attractive options for M&A deals Gautam Khurana

IBC offers attractive options for M&A deals

By Gautam Khurana, India Law Offices
The Insolvency and Bankruptcy Code, 2016 (IBC) has gradually evolved but, following a number of amendments, now offers a value route for M&A transactions. Corporate insolvency prior to 2016 was a disordered process but...
In the market for a distinctive trademark Manisha Singh Shreyashi Mazumdar

In the market for a distinctive trademark

By Manisha Singh and Shreyashi Mazumdar, LexOrbis
In the recent case of Walmart Apollo Llc v Aayush Jain and Anr, the Delhi High Court dealt with allegations that the defendants were not acting in good faith and had not in good faith...
No confusion by design over fashion trademark

No confusion by design over fashion trademark

By Aprajita Nigam and Aarushi Mishra, LexOrbis
In AMPM Fashions Pvt Ltd v Akash Anil Mehta, Partner of AMPM Design and Anr, the plaintiff applied to the Delhi High Court for interim relief against the defendants, the partners of AMPM Designs, for...
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NBFCs are now subject to prompt corrective action

By Sawant Singh and Aditya Bhargava, Phoenix Legal
In October 2021, the Reserve Bank of India (RBI) released a scale-based regulatory framework for non-banking financial companies (NBFC) to tackle systemic risks posed by the sector. Continuing its steady march forward in aligning...
CCI-throws-curveball-in-Amazon-Future-saga-L

CCI throws curveball in Amazon-Future saga

By Freny Patel
A penalty of USD27 million imposed on Amazon might just be petty change for the USD1.6 trillion-dollar tech giant, but there is much more at stake, not just for the US e-tailer but more...
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Getting the price right

Hourly rates bounce back, but legal fees remain competitive as clients push for predictability. Vandana Chatlani reports I n the past 18 months, the world has learned to live with the chaos of covid-19. Omicron is...
IndusLaw adds five equity partners

IndusLaw adds five equity partners

Four Bengaluru-based partners and one New Delhi-based partner were added to IndusLaw’s equity partnership, bringing the total to 17 equity partners at the firm. The new equity partners are Anindya Ghosh, Pallavi Kanakagiri and Winnie...
Indian-path-to-carbon-neutrality-L2video

India’s path to carbon neutrality

By Priti Suri and Arya Tripathy, PSA
The absence of a climate change law leaves pressing concerns for India’s achievement of emission reduction goals, write Priti Suri and Arya Tripathy India is moving fast towards becoming the world’s most populous country, and...
Trilegal, Khaitan assist India leg of Veolia-Suez merger

Trilegal, Khaitan assist India leg of Veolia-Suez merger

Trilegal advised France-based resource management group Veolia Environnement when India’s antitrust regulator approved its proposed acquisition of a stake in like-minded French multinational Suez, in a deal that values the latter at about USD14.5...

The A-List 2021

India’s top lawyers and legal icons Access the A-List 2021 What a year it’s been for India’s legal profession. Following the pandemic-induced paralysis of 2020, business and finance roared back to life in 2021. M&A deals...
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Startups find greater protection through patent applications

By DPS Parmar, LexOrbis
Startups are risky by nature and it is vital that they protect their ideas to gain investors’ confidence. It is not money but innovation that drives successful ventures. The life of an unprotected innovation...
AgustaWestland ban revoked, Freny Patel

AgustaWestland ban revoked

By Freny Patel
India lifted a ban in early November on defence supplier AgustaWestland and its Italian parent company, Leonardo, paving the way for the companies to participate and bid in ongoing projects and upcoming defence contracts. The...
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Government enables FDI support for self-reliance

By Neha Sinha and Radhika Malpani, L&L Partners
In May 2020, the prime minister inaugurated Atmanirbhar Bharat or self-reliant India programme (ANB), and announced various economic packages to boost the economy. The main aim of ANB is to make India a global...
Mahindra counsel launches YNSS Law Offices, Nitu Agarwal

Mahindra counsel launches YNSS Law Offices

Nitu Agarwal left her deputy GM group legal role at Mahindra & Mahindra to set up her own firm, YNSS Law Offices, aimed at catering to clients seeking reasonably priced legal services. “While working in-house,...
India Business Law Journal

Building back better

Wise policymaking is need of the hour Rebuilding after the pandemic was never going to be an easy task. Restoring confidence within communities and companies, coaxing workers back to offices and repairing the economy all...
RBI-revises-rules-for-securitisation-of-stressed-assets-L

RBI revises rules for securitisation of stressed assets

The Reserve Bank of India has revised its rules for securitisation and sale of loans to help banks improve liquidity and rebalance exposures. The revamp expands the types of assets that can be transferred and...
News-report-referring-to-trademark-not-wrongful-use-Manisha-Singh-and-Malyashree-Sridharan-LexOrbis-Oct2021

A small suffix causes big IP dispute

By Manisha Singh and Malyashree Sridharan, LexOrbis
The long-running dispute between the companies behind the online payment apps PhonePe and BharatPe has intensified. Each side claims ownership of the trademarks and suffixes PE and Pe, alleging misuse against the other. In...
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New internal ombudsman scheme for NBFCs

By Sawant Singh and Aditya Bhargava, Phoenix Legal
In recognition of the systemic importance of non-banking financial companies (NBFC) in credit delivery and their integration into the financial sector, the Reserve Bank of India (RBI) issued directions on 15 November requiring NBFCs...
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Open access to electricity becoming a reality

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
Bringing relief to captive projects, the Supreme Court (SC) has held that captive consumers are not liable to pay additional surcharges. Additional surcharges are charges levied by distribution companies (discom) on consumers who receive...
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Patent Prosecution Highway – The IP Bridge between India and Japan

By Tarvinder Singh, Kochhar & Co.
A Patent Prosecution Highway (PPH) is an examination cooperation programme for patent applications between the patent offices of two countries. It allows a patent applicant to request an accelerated examination of its application pending...
株主紛争は仲裁の権利を排除出来ない-L

Shareholder disputes cannot exclude right to arbitration

By Kelvin Poon and Avinash, Rajah & Tann
Shareholder agreements involving Indian companies are usually governed by Indian law and often contain arbitration clauses covering disputes. Where foreign shareholders are involved, such clauses frequently designate Singapore or other foreign jurisdictions as the...

IBLJ In-house Counsel Awards

India Business Law Journal reveals the country’s leading in-house counsel and corporate legal teams in our very first awards. Gautam Kagalwala reports Individual AwardsTeam Awards For the inaugural India Business Law Journal In-house Counsel Awards, we...
International-public-offerings-Lvideo

Opportunities for overseas IPOs

By Bobby Majumder and David J Zylka, Frost Brown Todd
With the government set to permit the direct listing of Indian companies on overseas stock exchanges, Frost Brown Todd’s Bobby Majumder and David Zylka set down the advantages of going public on US and UK exchanges In recent years,...
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Tangled accounting practices fuel power disputes

By Puja Priyadarshini & Sagnik Maitra, HSA Advocates
Carrying costs and discounting factor, or discounting rate, are vital principles in calculating the relief awarded to parties in commercial disputes. Although both these economic concepts are based on the principle of the time...
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CAM bags Singapore practice licence – and NDA’s office head

Cyril Amarchand Mangaldas (CAM) has received its foreign law practice licence to operate in Singapore, and brought on board Vivek Kathpalia, a former partner and head of Nishith Desai Associates’ (NDA) Singapore office.  “We are not here simply to...
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Devil in the e-detail

The government is keen to support the growth of online trade, but its draft e-commerce rules could have the opposite effect. Freny Patel reports India’s draft e-commerce rules have come under fire from industry experts...
Who’s in control?, Shivanand Pandit

Who’s in control?

The markets regulator has begun a process to move away from the broad concept of promoter to controlling shareholders in order to better identify who’s in charge. Shivanand Pandit reports Paving the way for a...
ML-Bhakta-Obituary

ML Bhakta: The consummate polite professional

Mr ML Bhakta, the senior partner of Kanga and Company, passed away recently at the age of 89 due to heart failure.  Even in the past few years, Mr Bhakta had continued to remain active in the legal profession and...
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India-Singapore corridor bridges fintech regulatory hurdles

By Arjun Goswami, Cyril Amarchand Mangaldas
The fourth industrial revolution has allowed fintech companies to transform the delivery of financial services through technology and innovation-driven efficiency and inclusive access. Technology has automated financial services and products as well as processes...
India Business Law Journal

Climate challenges ahead

Time to walk the talk In what was a first for South Asia, the Uttarakhand High Court in 2017 ruled that the Ganga and Yamuna rivers, and their catchment areas and tributaries, had rights as...
Ritika Reliance Retail Ventures sale

Dua assists fashion mogul in sale of Ritika stake

Dua Associates advised Ritika, owned by fashion designer Ritu Kumar, when Reliance Retail Ventures acquired 52% of the company, which included a 35% stake owned by Everstone Capital. Khaitan & Co advised Reliance Retail Ventures,...
Do lawyers have an increased responsibility in averting a climate catastrophe? Vandana Chatlani reports

Burning question

Do lawyers have an increased responsibility in averting a climate catastrophe? Vandana Chatlani reports In August, the Intergovernmental Panel on Climate Change (IPCC), a UN body for assessing the science related to climate change, published...
Jay Parikh Partner Ayushi Toshniwal senior associate L&L Partners

Amendments to FDI in the telecom services sector

By Jay Parikh and Ayushi Toshniwal, L&L Partners
The Ministry of Finance has released the gazetted copy of the Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2021 (amendment rules). The amendment rules revise the Foreign Exchange Management (Non-debt Instruments) Rules, 2019,...
Abhishek Tripathi Managing partner Anura Gupta Principal associate Sarthak Advocates & Solicitors

Benefits of must-run status for renewable energy generators

By Abhishek Nath Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
To push the green India initiative, the Ministry of Power has recently introduced the Electricity (Promotion of Generation of Electricity from Must-Run Power Plant) Rules, 2021 (rules). Under the rules, renewable power plants are...
Manoj Kumar, Hammurabi & Solomon

2021 act brings LLPs into the modern world

By Manoj Kumar, Hammurabi & Solomon
The Limited Liability Partnership (Amendment) Act, 2021 (act), recently took effect. It introduced significant changes to the Limited Liability Partnership Act, 2008 (principal act), applicable to limited liability partnerships (LLPs). The act makes the...
IBC

Unlocking new pastures for distressed investment in India

By Shardul Shroff and Shreya Prakash, Shardul Amarchand Mangaldas & Co
In the past half-decade, India has seen a great deal of investment and M&A activity in stressed assets. Large parts of this activity have focused on acquiring distressed companies through the Insolvency and Bankruptcy...
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Keeping up with IP

India’s IP regime is going through a tumultuous period with the abolition of the IP appellate board earlier this year, the emergence of new technologies, and challenges associated with covid-19 vaccines. We brought together...
Cairn, government call truce on tax dispute

Cairn, government call truce on tax dispute

India’s contentious tax dispute with Scotland-based Cairn Energy has come to an end, putting to rest corporate litigation to seize the Indian government’s properties in France, and Air India’s assets overseas. Cairn Energy CEO Simon...
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CCI pours beer companies hefty penalty

India’s antitrust watchdog has nailed United Breweries, Carlsberg India and Anheuser Busch InBev (AB InBev) for indulging in cartelisation, and the All India Brewers Association has not been spared either for the role it...
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India’s top law firm websites

What makes a good legal website, and which firms are achieving the best online engagement? Law firm websites have a troubled history in India. For a long time they were effectively, if not explicitly, prohibited...
CSRming the fightback

CSRming the fightback

The quick evolution of corporate social responsibility regulations played a crucial role in helping companies fight the pandemic. Nitin Mittal explains how legal teams rose to the challenge CCorporate Social Responsibility (CSR) was once relegated...
Shaneen Parikh,Shalaka Patil, Cyril Amarchand Mangaldas

Party autonomy now rules in arbitration law

By Shaneen Parikh and Shalaka Patil, Cyril Amarchand Mangaldas
Recent decisions of the Supreme Court have added to what is recognised as a pro-arbitration regime. One was PASL Wind Solutions Private Limited v GE Power Conversion India Private Limited, where the court ruled...
Alok Tewari,Shivika Upadhyay, Kochhar & Co

Data centres a new real estate class

By Alok Tewari and Shivika Upadhyay, Kochhar & Co
A multitude of factors, including increased digitisation and data localisation norms, have fuelled the current boom of the data centre market. Data centres have emerged as a separate real estate asset class with potential....

Jumping ship

Several senior foreign lawyers with India expertise have joined new law firms of late. Vandana Chatlani explores what is prompting them to move In the past 12 months, several foreign lawyers with prominent India-related experience...

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