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Types and targets of inbound M&A by foreign investors
Foreign investors in China typically set up wholly foreign-invested companies or partner with Chinese investors to establish Sino-foreign joint ventures or co-operative enterprises. To penetrate the Chinese market and speed up the execution of...
Application of the law in online unfair competition cases
During “Double 11” (November 11) last year, Taobao’s Tmall sales turnover exceeded RMB91.2 billion (US$14 billion), showing that the huge business opportunities encompassed in the online economy are real. Competition among Internet enterprises is...
Key compliance points for contract-based PI funds
A private investment (PI) fund is an investment fund established with funds raised from investors in a non-public manner. In a contract-based PI fund, the fund contract serves as the legal medium specifying the...
Investment opportunities in Mauritius and through the island in Africa
In 2009, the Mauritian government launched the Long Term Energy Strategy 2009-2025 and pioneered the theme of Maurice Ile Durable (Sustainable Mauritius). The rationale behind this initiative was to augment the use of renewable...
Legal wheels turn for foreign investors in Myanmar
While the initial rush of foreign investors to Myanmar slowed down in 2015, likely due to the November elections, 2016 is predicted to be a year of rapid growth. The almost complete transition of...
Chinese energy in the midst of intensive adjustment
In a government work report, Chinese Premier Li Keqiang stated that it was necessary “to expand international cooperation in production capacity”, and the Thirteenth Five-Year Plan calls for low-carbon cycle development and an energy...
Blue ocean strategy beckons the brave to hospital PPPs
A public-private partnership (PPP) includes but is not limited to concession, service procurement and equity co-operation. Medical services are one of the sectors for which the adoption of the PPP model is encouraged by...
Med-arb: tips for international parties
In part one of this article, in last month’s China Business Law Journal, the authors considered the nature of med-arb (by which an arbitrator acts as mediator in the same proceedings), the circumstances in...
Service of documents in CIETAC arbitrations
The service of documents is an important procedural and practical matter. Whether documents have been properly served may have an impact on a party’s opportunity to present its case, and any irregularity in serving...
The path to Yukos: the largest arbitral award in history
In a historic award rendered on 18 July 2014, a tribunal formed by the Permanent Court of Arbitration (PCA) in The Hague unanimously held that the Russian government breached its international obligations under the...
HKIAC, ICC address costs and delays in arbitration
The 2015 International Arbitration Survey on Improvements and Innovations in International Arbitration, by Queen Mary University of London, has suggested that costs and delays were “ranked by respondents as among the worst characteristics of...
SAIC sets blacklist for companies convicted of illegal activities
Companies with convictions for commercial bribery offences and certain other illegal activities can now be added to a blacklist published in the Enterprise Credit Information Publicity System, provided by the State Administration for Industry...
China joins global framework for sharing of financial data
On 16 December 2015, China signed the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial Account Information – an international framework that allows the automatic exchange of common reporting standard (CRS) information...
Tax treatment clarified for HK-mainland MRF scheme
The Ministry of Finance, the State Administration of Taxation (SAT) and the China Securities Regulatory Commission (CSRC) jointly issued the Notice on Relevant Tax Policies on the Mutual Recognition of Funds between the mainland...
Zhonglun W&D and PC Woo launch joint venture in pilot zone
Zhonglun W&D Law Firm and Hong Kong law firm PC Woo & Co obtained official approval in late January for the establishment of a joint venture law firm in Shenzhen’s pilot economic zone, Qianhai....
SIAC launches Shanghai office to further tap China market
The Singapore International Arbitration Centre (SIAC) officially launched its Shanghai office on 2 March in another move to step up its influence in Asia.
Chinese parties have ranked among the top five foreign users of...
Appleby changes management team
Offshore law firm Appleby has made significant management changes to inject momentum into its cross-jurisdictional business, according to Michael O’Connell, the head of the firm.
O’Connell has been reappointed as the firm’s group managing partner,...
Beijing Enterprises buys German waste-into-energy leader
In the largest Chinese acquisition of a German company to date, Beijing Enterprises Holdings has bought German waste management operator, EEW Energy from Waste, in a move to take ownership of the company’s valuable...
Dalian Canglong buys advanced optoelectronic knowhow
Dalian Canglong Optoelectronic Technology has recently acquired a 70% stake in the French photoelectron products manufacturer Almae Technologies, aiming to boost the research, development and manufacturing of Almae’s products in both France and China.
Dalian...
Large finance deals for China-Pakistan economic corridor
China and Pakistan recently inked US$1.95 billion worth of agreements to finance the development of the Thar Block II coal mining project and the associated 660MW coal-fired power plant in the Thar region of...
Health check
Good health is a cornerstone for all kinds of achievements, and this remains true for individuals, commercial organizations or even whole economies. The March issue of China Business Law Journal provides a legal checkup...
New hope for creditors
Can the latest legislative attempt to improve India’s abysmal debt recovery rates succeed where others have failed? Rebecca Abraham reports
Winding up an ailing company in India is not for the faint-hearted. It can take more...
A view to the East
India’s desire to strengthen trade ties with its Asian neighbours may bear fruit as investment channels open up, but some legal and cultural hurdles need to be cleared. Vandana Chatlani reports
Speaking in November 2014 at...
Testing the waters?
The proposed US listing of solar power developer Azure Power suggests there could be more action to come in India’s booming renewable energy sector. Rebecca Abraham reports
In February 2015, India set itself the mammoth...
Budget bulletin
What are the practical implications of the budget for businesses in India? Rohan Shah and Darshan Bora highlight the key changes
Finance Minister Arun Jaitley presented his third budget on 29 February against the backdrop...
Digital dreams
The evolution of paperless courts offers benefits such as increasing the efficiency and effectiveness of searches and facilitating collaboration, writes Allison Stanfield
Today, a large proportion of evidence is created electronically and many documents are...
Promissory estoppel found in concessions denial case
Amidst the ongoing debate regarding the fate of various tax incentives and area-based exemptions under the coming goods and services tax (GST) regime, the recent ruling of Karnataka High Court in the case of...
Picking the right bidder to take on PPP project risks
The first list of 20 smart cities, selected to receive financial assistance from the government, was announced in January. A number of smart city projects – group housing, solar power, community toilet, etc. –...
Companies Act suggestions: A step in line with the times
India’s Companies Act, 2013, has had a chequered and a sluggish start. While it received presidential assent on 29 August 2013 and appeared in the official gazette the next day, only 98 of its...
Fundraising for startups: Is your house in order?
As per a 2015 survey by Nasscom (the National Association of Software and Service Companies) India has paved the way to secure the third position in the world with three to four startups emerging...
Roadblocks to banking amalgamations in India
The cut-throat competition in India’s banking industry, together with the cocktail of systemic difficulties that the industry faces, present stiff challenges to stabilized and sustained growth. The issues being faced by the banking industry...
Inspirations, adaptations and drama over IP rights
India’s illustrious Bollywood entertainment industry is growing at an unprecedented rate, invariably leading to a rise in legal disputes. Traditionally, intellectual property-related disputes were scanty and solved without much ado. However, with the paradigm...
Some issues and challenges associated with 3D printing
With a constant and dynamic advancement in technology, laws, especially intellectual property laws, are always playing catch-up. This results in IP laws being stretched and sought to be purposively interpreted to cater to the...
Life insurance policy uses restricted by recent change
Life insurance policies have always been regarded as measures of security for the insured and their dependants, safeguarding their interest in the event of death as a result of a covered contingency. Subject to...
The road ahead for FDI to meet India’s growth target
The prime minister, during “Make in India” week, urged investors to “seize the opportunity and invest” in India. The government’s drive to woo foreign direct investment (FDI) led to reforms in over 15 sectors...
Director’s violation of duty cause for derivative action
Prior to the enactment of the Companies Act, 2013, issues relating to directors’ obligations and fiduciary duties were uncodified. Delhi High Court in Rajeev Saumitra v Neetu Singh & Ors considered directors’ duties under...
Legal right to seek damages and the need for indemnity
In any contract the parties deploy various risk allocation methods to ensure that no party ends up facing more liability than it bargained for. If one party commits a breach of its war- ranties...
Report proposals’ impact on financing transactions
The Companies Act, 2013, is being implemented in a phased man- ner, with some provisions brought into force from September 2013, some from April 2014, and some yet to be notified. The 2013 act...
CBLJ – November 2015
Volume 6, Issue 10
Highlights:
We’re watching you: Antitrust regulators step up surveillance
Building the future: China’s regional infrastructure efforts
Profile: Hanergy’s IP head discusses work challenges
Lexicon: Exclusion clauses
Subscribers can sign in to access the following PDF.
In this...
The curious case of FAQs
Ipsita Dutta takes a look at clarifications issued by financial regulators and how to pre-empt the risks they pose
The Indian financial sector has seen a steady rise in the number and scope of regulations,...
Corporate veil lifted to cancel lease sale
In State of Rajasthan & Ors v Gotan Limestone Khanji Udyog Pvt Ltd, the Supreme Court held that the doctrine of lifting of a corporate veil has to be applied to give effect to...
SARFAESI applies to secured debts of sick companies
Dismissing an appeal in Madras Petrochem Ltd and Ors v BIFR and Ors, the Supreme Court held that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act),...
No tenders needed for critical parts in defence equipment
Allowing an appeal in Union of India & Anr v HBL Nife Power Systems Ltd, the Supreme Court recently approved the government policy of not requiring public tenders for the purchase of strategically and...
McDonald’s loss in small dispute not a precedent
In M/S McDonald Family Restaurant v Shyam Joshi, Delhi High Court disposed of a writ petition filed by McDonald’s challenging orders passed by the National Consumer Disputes Redressal Commission, the State Consumer Disputes Redressal...
2013 act applies to reappointment of director aged 70+
Allowing an appeal in Sridhar Sundararajan v Ultramarine & Pigments Limited & Rangaswamy Sampath, Bombay High Court recently held that a person who is above the age of 70 would be automatically disqualified from...
FAQs on SEBI’s listing and disclosure rules
Last year, the Securities and Exchange Board of India (SEBI) notified the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Since then, SEBI has published multiple frequently asked questions (FAQs) to facilitate the listing process...
Companies (Incorporation) Rules amended
On 22 January, the Ministry of Corporate Affairs (MCA) notified the Companies (Incorporation) Amendment Rules, 2016, amending the Companies (Incorporation) Rules, 2014. The key changes are as follows:
Removal of the requirement that a...
Online reporting of foreign exchange transactions
Through a circular issued on 1 February, the Reserve Bank of India (RBI) has altered reporting requirements and procedures for foreign exchange transactions.
Earlier, the prescribed forms had to be filed with an authorized dealer,...
Sterlite Grid issues top-rated bonds
Sterlite Power Grid Ventures, India’s largest private developer of independent power transmission systems, successfully closed a ₹9.25 billion (US$135 million) issuance of listed, taxable, secured, redeemable, non-convertible debentures for its East North Interconnection Company...
SeQuent to acquire 51% of Indo Phyto
SeQuent Scientific has announced that it will acquire a controlling stake in Indo Phyto Chemicals (IPC), a New Delhi-based pharmaceutical company that focuses on female healthcare.
IPC has a portfolio of steroids and hormonal active...
Birla cements deal with Reliance
Reliance Infrastructure has sold its 100% stake in Reliance Cement to Birla Corporation for ₹48 billion (US$700 million).
Reliance Cement has an integrated cement capacity of 5.08 million tonnes a year at Maihar in Madhya...
AZB advises IFC on Myanmar loan
The International Finance Corporation (IFC) has granted Myanmar’s City Mart Holding a convertible loan of up to US$25 million to support its expansion plans.
Partners Gautam Saha and Amrita Patnaik along with senior associates Swati...
BARC and TAM in joint venture
The Broadcast Audience Research Council (BARC) and Tam Media Research have agreed to form a joint venture company called Meterology Data. The joint venture will operate as a meter management company and will run...
Deal gives Strand 68% of Venaxis
Strand Life Sciences has acquired a 68% stake in Venaxis. Under the deal, Strand’s shareholders, along with employees and directors who hold options in Strand, will own directly and beneficially approximately 68% of Venaxis,...
GNLU student wins essay competition
Mitali Daryani, a student from Gujarat National Law University (GNLU), has won first prize in the fourth Arb Excel All India Essay Writing Competition organized by Kachwaha & Partners.
The firm received 67 entries –...
Juris Corp moves Moral to partner
Juris Corp has promoted Avikshit Moral to its partnership in Mumbai.
Moral joined the firm as a senior associate after beginning his career at Manilal Kher Ambalal & Co. He has over eight years of...
Vussonji and Loona merge their firms
Mumbai law firms Dhaval Vussonji & Associates (DVA) and Alliance Corporate Lawyers (ACL) are merging to form a 40-lawyer firm. The merger will come into effect on 1 April.
DVA, headed by founder and co-managing...
Kochhar expands disputes practice
Kochhar & Co has boosted its litigation and dispute resolution practice with the appointment of Lakshmikumaran & Sridharan (L&S) lawyers Rahul Ray, Vikram Bajaj and Nikhil Singal in New Delhi.
Ray joined Kochhar & Co...
CAM gains Grant Thornton partner
Cyril Amarchand Mangaldas (CAM) has hired Kunal Gupta as a partner in its New Delhi office with effect from 15 February.
Gupta is a forensics and investigations specialist with over nine years of experience with...
ELP cricket team takes Masters Cup
Economic Laws Practice (ELP) emerged victorious in the eighth Masters Cricket Cup, defeating AZB & Partners by 12 runs on 7 February. A total of 16 of Indian law firms participated in the three-day...
Lawyers thrash bankers in cricket
A team of lawyers lifted the Duane Morris & Selvam Capital Markets Cup following their eight-wicket victory over a team of bankers on 14 February at the Oval Maidan in Mumbai.
The bankers were aiming...
LCIA to close door on India operations
The London Court of International Arbitration (LCIA) has announced it will close its India operations on 1 June. LCIA India will serve the needs of users in India, including those who have adopted the...
Exhaustive and insightful
Dear Editor,
I went through the coverage of India Business Law Journal’s Indian Law Firms Awards in the February issue with interest. It is exhaustive and covers all practice areas. The comments from clients of...
Step outside comfort zone
Dear Editor,
I enjoyed reading the article in your December/January issue about the extra-curricular activities of foreign lawyers in India. It was heartening to see that the lawyers featured in your coverage take the time...
Cooking up a storm?
Many will be unimpressed by the cacophony of voices that accompany the budget
But what of the halwa-making ritual that kicks off the process? This curious culinary exercise, which is presumably held deep in the...
Monkey business
Joanna Law reports on the legal and regulatory challenges corporate counsel expect to face when doing business in 2016
In China, 2015 was a busy year with the market expanding and opening up, and a...
China Business Law Awards 2015
The annual China Business Law Awards has shone a light on the real achievers of 2015, as voted by law firms and clients alike. Leo Long showcases the winners
The beginning of the Year of the...
Cyber nightmare
As internet becomes a powerful tool in modern business, destructive risks may cause you uneasy sleep. Veta T. Richardson shares the key recent findings of her in-house association
There have been several recent instances of...
Patent trolling: An Indian perspective
Patent laws are enacted to stimulate innovation and invention, which ultimately leads to the benefit of the public at large. They are the negative rights that are granted not only for the personal benefits...
Breakthrough for identifying foreign-related elements in contracts
According to the Law on Choice of Law for Foreign-related Civil Relationships, the parties of a contract can choose the applicable law only when the contract contains foreign elements. At the samed im time,...
Tips for safe harbour against port construction risks
Port construction is closely connected to a country’s politics, economy and trade, and changes in the external environment will directly affect decision making on port investments. On the other hand, as the construction period...
US policy in anti-dumping investigations unfair to China
In recent years, in an effort to further assist the repatriation of the US manufacturing industry and consolidate its economic recovery, the US Department of Commerce has made major revisions to the rules for...
Impact of Commercial Bank Law’s article 43 on PPP projects
With the widespread use of the public-private partnership (PPP) model in China, financing channels for projects have increasingly diversified. Bank, trust, fund and insurance channels of capital have all rushed onto the stage of...
Analyzing GP organizational structure of PE funds
Most private equity (PE) funds are established in the form of a limited partnership. The general partner (GP) manages fund matters and bears unlimited joint and several liability for the debts of the fund;...
Corporate governance obstacles in unfriendly M&As
In 2015, the M&A transaction that attracted the most attention must have been the case between Baoneng and Vanke. In July that year, Baoneng Group began increasing its shares in Vanke. By 24 December,...
Beijing IP Court receives top marks in first year
With the adoption of the decision by the Standing Committee of the 12th National People’s Congress to establish intellectual property courts, the Beijing Intellectual Property Court was established in November 2014 and has now...
Stay up to speed on compliance measures of corporate IP ownership
Intellectual property (IP) ownership is the fundamental principle for IP. We need to first clarify and identify the ownership of IP before we can reasonably distribute benefits between the inventor and the rights holders....
Has SPC finally resolved CIETAC sub-commission controversy?
The battle for jurisdiction between the China International Economic and Trade Arbitration Commission (CIETAC) and its two breakaway sub-commissions, the Shanghai International Economic and Trade Arbitration Commission (also known as the Shanghai International Arbitration...
Tips for international parties considering med-arb
Two parties embark upon arbitration proceedings to resolve a commercial dispute. A tribunal is appointed, legal and factual submissions made, and an oral hearing convened. Mid-way through the first day of the hearing, the...
Third party funding dilemma for international arbitration
The rising popularity of third party funding (TPF) has caught the attention of the international arbitration community. On one hand, TPF is not a new practice at all. Professor Maya Steinitz traces TPF back...
Chinese and overseas antitrust regulators strengthen co-operation
The Ministry of Commerce (MOFCOM) and the European Commission (EC) entered into a best practices framework in mid-October 2015 for co-operation on reviewing mergers. The framework marks growing co-operation between antitrust regulators and brings...
Beijing labour union measures add to compliance burden
New labour measures adopted by the Standing Committee of the Beijing Municipal People’s Congress are likely to impose additional costs and further administrative burdens on companies in Beijing.
Some of the key components in the...
Shenzhen court issues new guidance on labour dispute issues
The Shenzhen Intermediate People’s Court released the full text of its Guidance on Dealing with Labour Dispute Cases in early December, clarifying some major employment issues in this special economic zone.
Non-compete. According to the...
VAT zero-rate regime extended to more exported services
Anew zero-rate notice has been effected to grant exported services provided in certain sectors better value-added tax (VAT) treatment.
The Notice on the Application of Value-added Tax Zero-Rate to Exported Services Related to Films and...
Meituan and Dianping raise record-breaking venture funding
China Internet Plus Holding (CIP), the holding company formed by Meituan and Dianping, has raised US$3.3 billion in its latest funding round, the largest fundraising of its kind in China. The company is now...
Malaysian sovereign fund invests in China’s financial tech sector
Khazanah Nasional Berhad, the strategic investment fund of the Malaysian government, recently completed its first investment in China’s financial technology sector through investment in WeLab, one of China’s largest mobile lending and credit analytics...
China banks lead financing facility for Ecuador
China Orient Asset Management (International) Holding (COAMI), China Orient Summit Capital (COS Capital) and KKR recently formed a strategic partnership to invest in growing distressed debt in China as the economy slows.
Statistics from People’s...
China Orient partners KKR to seek returns from unpaid debts
China Orient Asset Management (International) Holding (COAMI), China Orient Summit Capital (COS Capital) and KKR recently formed a strategic partnership to invest in growing distressed debt in China as the economy slows.
Statistics from People’s...
GE sells appliance business to Haier
General Electric (GE) has agreed to sell its business, GE Appliances, for US$5.4 billion to Qingdao Haier, the Chinese multinational producer of consumer electronics and home appliances. GE also entered into a long-term agreement...
Canadian province adds panda bond offering
The province of British Columbia in Canada issued RMB3 billion (US$456 million) worth of bonds in late January, after the approval it recently gained to register an RMB6 billion bond issuance programme with China’s...
Sea change
The world of offshore opportunities for India-related business is undergoing a transformation that may set tried and tested relationships adrift, writes John Church
It used to be that when you mentioned India and offshore investment...
Indian Law Firm Awards 2015
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Indian Law...
The bitter end?
An inside look at how and why a Shree Renuka Sugars subsidiary is
filing for bankruptcy protection in Brazil
By Vandana Chatlani
In 2010, Shree Renuka Sugars made waves when it journeyed to Brazil to purchase stakes...
Funds in flux
Regulatory hurdles may be less daunting than other problems plaguing private equity investors, Rebecca Abraham reports
In September 2015, Baring Private Equity Asia acquired India’s largest cash management company, CMS Info Systems. The deal was significant...
Decoding the bankruptcy code
Proposed changes to the insolvency regime will boost credit markets and entrepreneurship, argues Debanshu Mukherjee
The Insolvency and Bankruptcy Code, 2015, which was introduced in parliament in December 2015, proposes large-scale reforms to India’s corporate insolvency...
COMPAT overturns CCI in stem cell banking case
The Competition Appellate Tribunal (COMPAT), in an order dated 18 December 2015, set aside a penalty order of the Competition Commission of India (CCI) under section 27 of the Competition Act, 2002, against Dr...
Rebuilding trust in the system
“If you are in trouble you should show that you care by cutting down your expenses”
Sensible advice from the governor of India’s central bank, Raghuram Rajan, directed at errant borrowers across the country who...
Delhi High Court: Licence to manufacture and advertise?
Delhi High Court delivered a landmark decision on the transfer pricing implications of advertisement, marketing and sales promotion (AMP) expenses for licensed manufacturers in December 2015, in the case of Maruti Suzuki, holding that...
Rules eased for bank units in special finance centres
As part of a larger policy move to align India’s financial markets with international standards and to clamp down on the diversion of Indian rupee denominated business to offshore locations such as Singapore and...
Insights into changes in the insider trading regulationsc
The Securities and Exchange Board of India (SEBI) has taken further steps to curb insider trading by issuing the SEBI (Prohibition of Insider Trading) Regulations, 2015, effective from 15 May 2015. Insiders, including those...
What’s in a name? Trademarks for film titles
India’s film Industry is booming, known to deliver world class films. Every film gets recognition from its name, giving it a sense of identity for the public to relate to or recognize.
In 2001, the...
The big reforms arrive with a bang as restrictions eased
India’s government on 10 November 2015 announced significant reforms to further rationalize and simplify the process of foreign direct investment (FDI), putting more FDI proposals under the automatic route and increasing the sectoral caps....
SARFAESI not meant to override rent control laws
In a judgment delivered on 20 January in Vishal N Kalsaria v Bank of India and connected civil appeals, the Supreme Court considered the clash between the scope and application of the Securitisation and...
Employee stock options: What startups should know
Employee stock option plans (ESOPs) are being widely used by both public companies and startups as a means of monetary compensation and to provide incentives for employees. While startups use employee stock options in...
Conflict between company law and the SARFAESI Act
The Indian legal framework for recovery of debt and for dealing with companies in distress is spread across various statutes. Creditors can seek recourse under the provisions of statutes such as the Companies Act,...
Design and structure vital for success of PPP projects
The Ministry of Urban Development’s Smart City Mission contemplates significant use of public-private partnership (PPP) structures for financing, developing and operating the smart city projects. In addition to the private capital needed to finance...
Penalty clauses
Acritical issue for contract law is what remedies are available to a party in the event that the other party breaches the contract. Remedies for breach may be available by operation of the law...
COMPAT nullifies CCI order against cement makers
Allowing an appeal in Lafarge India Limited v Competition Commission of India & Builders Association of India on procedural grounds, the Competition Appellate Tribunal (COMPAT) set aside a ₹61 billion (US$895 million) fine imposed...
Zodius puts funds into FreshMenu
Online food delivery company FreshMenu, owned and operated by Food Vista India, has raised ₹1.1 billion (US$16 million) in its second round of funding. The round was led by Zodius Capital with additional investment...
No extension for period to reply to complaint
In New India Assurance Co Ltd v Hilli Multipurpose Cold Storage Pvt Ltd, a three-judge bench of the Supreme Court held that a party cannot get more than 45 days to reply to a...
DRT jurisdiction not decided by venue of property
Allowing an appeal in GSL (India) Ltd v Asset Reconstruction (India) Ltd & Ors, Bombay High Court held that the territorial jurisdiction of debt recovery tribunals (DRTs) does not depend on the place where...
Borrowers can use advocates before bank body
In Punjab National Bank & Ors v Kingfisher Airlines Limited & Ors, a division bench of Delhi High Court held that borrowers who are to be classified as wilful defaulters and are given an...
Court restrains ex-employee’s Facebook posts
In Tata Value Homes Ltd & Anr v Nityanand Sinha, Bombay High Court restrained an individual from posting defamatory content on social media about his former employer. The court also directed Sinha, formerly the...
IRDAI regulations on ‘other forms of capital’ notified
The Insurance Regulatory Development Authority of India (IRDAI) has notified the IRDAI (Other Forms of Capital) Regulations, 2015, permitting the issuance of “other forms of capital” such as preference share capital or subordinated debt...
Procedures for compliance by listed exchanges
The Securities and Exchange Board of India (SEBI) issued a circular on 1 January outlining the procedures for ensuring compliance with the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 (SECC regulations),...
Sweeping changes alter arbitration framework
The Arbitration and Conciliation (Amendment) Ordinance, 2015, which substantially amends the provisions of the Arbitration and Conciliation Act, 1996, received presidential assent on 23 October 2015. It was notified in the form of the Arbitration...
Guardian Life leaps for Aon
The Guardian Life Insurance Company of America, through its Reed Group subsidiary, has acquired Aon Hewitt’s absence management administration business in India, the US and Canada.
The purchase makes the Reed Group the largest third...
Solar power plant to light Telangana
A team from Cyril Amarchand Mangaldas, led by partner Alice George, acted as the Indian legal counsel to Belectric Photovoltaic India on the engineering, procurement and construction contracts for the development of a 61.38...
Spencer’s sews up Omnipresent deal
Spencer’s Retail, part of the RP Sanjiv Goenka Group, has acquired 100% of Omnipresent Retail India for US$1.5 million.
Spencer’s is a multi-format retailer which provides consumers with a range of food, personal care, fashion,...
Texmaco bites into Bright Power
Texmaco Rail & Engineering has purchased a 55% stake in Bright Power Projects (India) for ₹385 million (US$5.6 million).
Bright Power is an engineering, procurement and construction company that specializes in “over-head electrification” for the...
