The Insolvency and Bankruptcy Code, 2016 (“IBC”) has been the talk of the business and legal world since its inception. It is touted as the primary reasons for India’s rise in the Ease of Doing Business ranking from 130 to 63 in the span of 5 years. Owing to its relationship to the economy and commerce, the government has been…
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Apex Court Affirms COMPAT’s Observation on Uber’s Alleged Anti-Competitive Conduct
There seems to be no respite for Uber from getting under the scrutiny of alleged anti-competitive behaviour causing an appreciable adverse effect on competition (“AAEC”). Recently, the Supreme Court affirmed the observation of NCLAT’s predecessor and ordered the investigative wing of the Commission i.e. the Director-General to investigate into Uber’s alleged involvement in anti-competitive activities. The commission’s decision was overruled…
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Patrolling of Patent Trolling: Exploring Options
A recent landmark judgment pronounced by US Supreme Court once again brought into limelight the patent trolling, a concept which is very close especially to the large tech companies. It was held that the jurisdiction for a case of patent trolling will lie with the court in which the defendant resides. [1] The purpose of the research is to analyse…
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Insolvency and Bankruptcy Code (Amendment) Act, 2019: Ironing Out Bottlenecks
In order to plug gaps, the Union Cabinet introduced the Insolvency and Bankruptcy Code (Amendment) Act, 2019 (“IBC Amendment Act”). It did not prefer the ordinance route like previous amendments and instead brought in an Act to tackle the problems with the Code. A press release dated July 17, 2019, by the Ministry of Corporate Affairs (“MCA”) clarified that the…
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SC Quashes Costs Imposed on SEBI by SAT Yet Again: Going in the Wrong Direction
The Hon’ble Supreme Court of India has set aside the order for imposition of costs of Rs. 50,000 by the Securities Appellate Tribunal (“SAT”) on the Securities and Exchange Board of India (“SEBI”) for imputing manipulative intent upon the Appellant, a trader, despite there being ‘no shred of evidence’ to conclude the same and letting its ex-parte order continue for…
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Base Erosion and Profit Shifting : Impact on India
In June 2019, the Union Cabinet chaired by the Prime Minister ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.[i] Earlier, India and the US had signed an agreement for the exchange of country-by-country report in order to give massive relief to subsidiaries of US-headquartered companies in taxation-related matters. The filing of…
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Analysis of SEBI’s DVR Framework and Addressing Concerns
A shareholder derives his power of voting in a company from Section 47 of the Companies Act 2013. With a general right to vote on every resolution, shareholders exert their ownership through voting on key corporate issues at the annual general meeting. These issues involve the appointment of the board of directors, issuing of securities etc. Certain restrictions can be…
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India’s Draft E-Commerce Policy: A Set-Back
The e-commerce industry has been booming over the years and has facilitated the integration of markets across the world. It allows producers as well as buyers to access markets easily which were hitherto separated by time and distance. In India, it brings in a lot of Foreign Direct Investment (“FDI”) as the market-based model for e-commerce entities is allowed 100% …
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Legal Underpinnings of the US withdrawal of Generalized System of Preferences benefits to India
The World Trade Organization (“WTO”) is an international organization which regulates the trade relations between its member nations. The WTO covers both multilateral as well as Plurilateral Agreements. These Agreements contain certain special provisions for the benefit of the developing nations in the form of special rights. These provisions give developed nations certain rights to treat the developing nations more…
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SEBI Proposes Pre-Deposit Appeals: What About Access to Justice?
In an attempt to tackle frivolous appeals, the Securities and Exchange Board of India (“SEBI”) has proposed the introduction of a mandatory deposit of 10% of the penalty imposed by it, before an appeal from its orders/directions can be sought before the Securities Appellate Tribunal (“SAT”). This requirement would also stand, mutatis mutandis, in cases where SEBI has ordered for…
