Legal 60

Skrine advised ENI on joint venture with PETRONAS The largest and leading independent law firm in Malaysia, Skrine, acted as Malaysian counsel to Italy’s ENI in relation to its entry into a binding agreement with Malaysia’s national oil company, Petroliam Nasional Berhad (PETRONAS) to create a joint venture vehicle, to be owned on a 50:50

Simmons & Simmons Enhances Middle East M&A Team with Rizwan Butt Joining as Partner The leading global law firm, Simmons & Simmons, has further expanded its Middle East corporate offering with the appointment of Rizwan Butt as Partner in the UAE. Joining Simmons from Clifford Chance, where he spent time on the ground in both

Balance Sheet Entries Revive Time-Barred Debt, Paves Way for CIRP Against Vibrant Content: NCLT Mumbai Introduction The National Company Law Tribunal (NCLT), Mumbai Bench, comprising Mr. Sushil Mahadeorao Kochey (Judicial Member) and Mr. Prabhat Kumar (Technical Member), admitted an insolvency petition filed by the Central Bank of India against Vibrant Content Pvt. Ltd. The Tribunal

NCLT Declines Probe Into Smaaash’s Former Management, Emphasizes Revival Over Retrospection Introduction The National Company Law Tribunal (NCLT), Mumbai Bench, recently refused to initiate an investigation under Section 213 of the Companies Act, 2013 against the erstwhile management of Smaaash Entertainment Private Limited, a company known for its virtual reality-based gaming and entertainment centres. The

Amendment Of Default Date In Insolvency Plea Is A Procedural Correction, Not A Fresh Cause Of Action Introduction The National Company Law Tribunal (NCLT), Mumbai Bench, comprising Prabhat Kumar (Member-Technical) and Sushil Mahadeorao Kochey (Member-Judicial), has clarified that merely allowing correction of the date of default in an insolvency application does not give rise to

NCLAT Sets Aside Insolvency Against Mahagun India, Orders Fresh Project-Specific Review To Protect Homebuyers’ Interests Introduction The National Company Law Appellate Tribunal (NCLAT) has set aside the insolvency order initiated against Noida-based realty firm Mahagun (India) Pvt. Ltd., providing relief to nearly 8,000 homebuyers. The tribunal directed the National Company Law Tribunal (NCLT), New Delhi

SEBI remodels certification programs for professionals It has sought public comments by 27 November The Securities and Exchange Board of India (SEBI) has proposed to expand the definition of ‘Associated Persons’. This includes individuals directly employed or engaged by intermediaries and regulated entities, and those desiring to participate in the securities market. In its consultation

SEBI urges social media platforms to combat online investment scams The move aligns with the global call to action by the International Organization of Securities Commissions The Securities and Exchange Board of India (SEBI) has stated reinforcing its efforts to combat online investment scams. In a formal communication, the market regulator apprised major social media

SEBI does not decide IPO valuations: Chairman Tuhin Kanta Pandey He spoke amid growing concerns over the steep pricing of recent IPOs The Securities and Exchange Board of India (SEBI) has clarified that it has no role in determining valuations of public issues. On the sidelines of an event, Tuhin Kanta Pandey, Chairman, SEBI, stated,

Delhi Court Permanently Blocks Bengaluru Restaurant From Using ‘Carnatic’ Mark, Upholds Trademark Rights Of Carnatic Café Introduction In a significant judgment protecting trademark rights in the hospitality sector, the Saket District Court, Delhi, permanently restrained Bengaluru-based Lemonpepper Hospitality Pvt. Ltd. and its directors from using the mark “CARNATIC” for their restaurant business. The court held