[Subham Mangla and Dirshi Shah are 4th Year B.A. LL.B (Hons.) and B.B.A LL.B (Hons.) students, respectively, at Gujarat National Law University, Gandhinagar] The order of priority for the distribution of assets during liquidation, colloquially known as the “waterfall mechanism,” is the bedrock of any modern insolvency regime. In India, this critical function is enshrined under section 53 of
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ITAT’s Verdict on Cash Deposits in Construction Sector Tax Disputes ITAT Sets Precedent on Cash Deposit Explanations in Tax Cases In a significant ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal has provided clarity on the treatment of cash deposits in the context of a construction business. The case revolves around the appeal
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SNG & Partners advised on INR 1,100 crore listed debt issuance by DLF Cyber City Developers Limited The leading law firm in India, SNG & Partners advised on a strategic listed debt issuance of INR 1,100 crores by DLF Cyber City Developers Limited (DCCDL), a subsidiary of DLF Limited that houses DLF’s commercial leasing assets
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Khaitan & Co advised Vishvaraj Environment on Initial Public Offering The leading law firm in India, Khaitan & Co acted as the Indian legal counsel to the Book Running Lead Managers i.e., JM Financial Limited, Axis Capital Limited, and DAM Capital Advisors Limited in the initial public offering of equity shares of Vishvaraj Environment Limited
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Khaitan & Co advised Kusumgar Limited on Initial Public Offering The leading law firm in India, Khaitan & Co acted as legal counsel to Kusumgar Limited and the Selling Shareholders as to Indian law in the initial public offering of equity shares of the Company. The IPO comprised an offer for sale of equity shares
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Khaitan & Co advised UltraTech Cement on Offer for Sale of The India Cements Limited Shares The leading law firm in India, Khaitan & Co advised UltraTech Cement Limited (the “Promoter”) and JM Financial Institutional Securities Limited (Broker) in relation to the sale of 1,82,47,148 equity shares of The India Cements Limited through an Offer
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Khaitan & Co advised Lalbaba Engineering Limited on Filing of DRHP for Proposed IPO The leading law firm in India, Khaitan & Co acted as legal counsel to Lalbaba Engineering Limited and the Promoter Selling Shareholder in connection with the draft red herring prospectus filed by the Company. The proposed initial public offering of equity
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