• Competition Law

    Break-up of Dominant Enterprises: It’s Not Me, its You [Part I: Understanding Break-ups]

    Of late, there have been passionate political calls throughout the world to break-up the ‘big tech’ companies like Facebook, Amazon, Apple, etc. This is primarily because of the overwhelming power that these companies hold in their relevant markets and the near-monopolist advantage that these companies hold over the new entrants in their market. At the outset, this call purports to base itself on the touchstone of the principle of break-up of dominant/monopolistic companies and groups under competition/anti-trust laws. While some of the reservations presented under this call to break-up do raise some pertinent questions, while some of the allegations made against these companies are only clothed as competition concerns but…

  • Editorials

    The Need for Context and Exemptions under the Insolvency and Bankruptcy Code, 2016

    The Insolvency and Bankruptcy Code, 2016 (“IBC”) came at a time of great need for the Indian economy. It is argued that, at the time, Non-Performing Assets were on their way to crippling the Indian economy which would have had far-reaching implications on banks and the economy at large. However, ever since the IBC has come into the picture, far-reaching and substantial strides in the recovery and restructuring of dues have been made whether in the form of pre-admission settlements or the Corporate Insolvency Resolution Process (“CIRP”). Despite its successes, we have seen grave shortcoming under the IBC and the wake-up call with regard to this was seen in the…

  • Financial & Insolvency Law

    RBI’s Draft Enabling Framework for Regulatory Sandbox: A Step Forward in Innovation

    Amidst much speculations in the FinTech sector, the Reserve Bank of India (“RBI”) released the Draft Enabling Framework for Regulatory Sandbox, 2019 (“Draft Framework”) on 18th April 2019 aimed at enhancing financial inclusion and innovation in the Indian financial sector, especially for FinTech start-ups. This article seeks to discuss various important clauses of the Draft Framework and examine them in light of the objectives sought to be achieved by it and thereafter, suggest some changes.   [Mansi Mishra is a student of second year B.A. LL.B. (Hons.) at the National Law Institute University, Bhopal]   About the Draft Framework The object behind the Draft Framework is to set up Regulatory Sandbox (“RS”)…

  • Financial & Insolvency Law

    Information Symmetry under the Insolvency and Bankruptcy Code, 2016

    The modus operendi to achieve an optimum insolvency regime is to critically analyse the performance of the legislation on the basis of the effects it has on the overall business and credit market. Thus critiquing its efficiency is an important element of any codified law in a country. This need is even more imperative not only because of the number of applications under the Insolvency and Bankruptcy Code, 2016 (“Code”) but because of the increasing use of this new mechanism to achieve the enforcement of debt obligations and reorganization outside the formal process under the Code, as an arm twisting means, making it more onerous to investigate its effectiveness and efficiency.…

  • Competition Law

    Leniency Programme under the Competition Act: A Definitive Guide

    The Competition Commission of India (“CCI”) is empowered, under Section 46 of the Competition Act, 2002, to grant lesser penalties to members of cartels where (i) they have made a full and true disclosure in respect of the alleged violations and (ii) this disclosure is sufficient to enable CCI to form a prima-facie opinion about the existence of a cartel or which helps to establish the contravention of the provisions of section 3 of the Act. 15 years after this provision was enacted along with the Competition Act, the first case  under Section 46 was decided by CCI in 2017. This article seeks to set out the law behind the…

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