M&A IN THE INFRASTRUCTURE SECTOR KEY LEGAL RISKS The legal due diligence process helps in identifying the key legal risks and provides for mitigation strategies. The Indian infrastructure sector is one of the most significant drivers of the Indian economy. It is a cornerstone for India to reach its ambitious target of being a 10
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Compulsorily Convertible Debentures: Whether ‘Debt’ or ‘Equity’? It would be fair to say that Convertible Notes exist in the FDI context as an exception to the general rule that disallows optionally convertible debt instruments to be issued by Indian companies for FDI purposes. INTRODUCTION Compulsorily convertible debentures (“CCDs”), as the type suggests, are debentures that
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In May 2023, the UK Court of Appeal upheld the invalidity of Bristol-Myers Squibb’s Apaxiban patent for lacking “plausibility”. But how does this finding interact with the position of relevant laws in India? Responding to this question, we are pleased to bring to you this guest post by Amit Tailor, discussing whether the “plausibility” requirement
... Continue Reading.[Smruti Kulkarni and Manas Rohilla are 3rd year students at Gujarat National Law University, Gandhinagar] On 22 December 2023, the Securities and Exchange Board of India (SEBI) issued a consultation paper on “Introduction of optional T+0 and optional Instant Settlement of Trades in addition to T+1 Settlement Cycle in Indian Securities Markets”. The paper analyses feasibility
... Continue Reading.[Daksh Kasliwal and Shubham Sehgal are 3rd year law students at Gujarat National Law University, Gandhinagar] Over the past decade, India’s fintech industry has been experiencing a remarkable growth trajectory and has emerged as the third largest fintech economy in the world. WEF, in its study, has placed India alongside the United Kingdom, the United
... Continue Reading.[Snigdha Dash is a 3rd year B.A.LL.B.(Hons.) student from National Law University, Odisha] The market’s abundance of traders, providers, platforms, brokers, and communication channels has created an environment susceptible to potentially malevolent activities. Exploiting vulnerabilities to gain unauthorized access to trading accounts and execute illicit transactions, such as in currency trading, has become a worrisome
... Continue Reading.[Esha Rathi is a final year B.B.A. LL.B. (Hons.) student at Jindal Global Law School] Section 19 of the Prevention of Money Laundering Act 2002 (PMLA) empowers authorized officials of the Directorate of Enforcement (ED) to arrest persons based on the material in their possession, providing a reasonable basis to suspect that an individual has
... Continue Reading.[Tanish Arora is a 3rd year B.B.A.LL.B. student at National Law University Odisha] In December 2023, the Madras High Court in Subrata Monindranath Maity v The State, Represented by Deputy Director, Industrial Safety and Health-II stipulated that a person who is the resolution professional (“RP”) in respect of an establishment is also an occupier under the
... Continue Reading.SUPREME COURT HOLDS THAT IN CASE OF CONFLICTING CLAUSES OF A DEED, THE EARLIER CLAUSE TAKES PRECEDENCE OVER THE LATTER A two-Judge Bench of the Supreme Court comprising of Justice Vikram Nath and Ahsanuddin Amanullah passed a Judgement dated 31-01-2024 in the matter of Bharat Sher Singh Kalsia vs. State of Bihar & Anr. Criminal
... Continue Reading.[Karthika S. Babu and Snigdha are 3rd year B.A., LL.B. students at Gujarat National Law University, Gandhinagar] In an attempt to align the pace of regulatory oversight with the exponential rate at which fintech is revolutionising the financial services environment, the Reserve Bank of India (“RBI”) recently released the much debated Draft Framework for Self-Regulatory Organisation(s)
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