Compliance With Section 21 Mandatory Before Commencing Arbitral Proceedings After Setting Aside of Arbitral Award Setting aside of an arbitral award warrants compliance of Section 21 and commencement of arbitral proceedings afresh and not a resumption of the arbitration proceedings by the same Arbitrator. The Bombay High Court in Harkisandas Tulsidas Pabari & Anr. v.
... Continue Reading.Why the IBC Bill’s Fix for Waterfall is a Half-Measure?
[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
... Continue Reading.Madras High Court Allows Re-export of Seized Goods Under Strict Conditions
Madras High Court Allows Re-export of Seized Goods Under Strict Conditions Legal Precedent Set by Madras High Court in Customs Seizure and Re-export Cases In a significant judgment, the Madras High Court recently granted permission to an importer to re-export a seized consignment of textile fabrics coated with plastics. The decision was made in response
... Continue Reading.ITAT’s Verdict on Cash Deposits in Construction Sector Tax Disputes
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
... Continue Reading.SNG & Partners Advised On INR 1,100 Crore Listed Debt Issuance By DLF Cyber City Developers Limited
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
... Continue Reading.Khaitan & Co Advised Vishvaraj Environment On Initial Public Offering
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
... Continue Reading.Khaitan & Co Advised Kusumgar Limited On Initial Public Offering
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
... Continue Reading.Khaitan & Co Advised UltraTech Cement On Offer For Sale Of The India Cements Limited Shares
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
... Continue Reading.Khaitan & Co Advised Sterlite Electric Limited On Filing of DRHP For Proposed IPO
Khaitan & Co advised Sterlite Electric Limited on Filing of DRHP for Proposed IPO The leading law firm in India, Khaitan & Co acted as legal counsel to the book running lead managers – Axis Capital Limited, Motilal Oswal Investment Advisors Limited, and Nuvama Wealth Management Limited – as to Indian law in connection with
... Continue Reading.Khaitan & Co Advised Ramkrishna Forgings Limited On Preferential Issue Of Warrants
Khaitan & Co advised Ramkrishna Forgings Limited on Preferential Issue of Warrants The leading law firm in India, Khaitan & Co advised Ramkrishna Forgings Limited in relation to the preferential issue of 9,75,000 Warrants convertible into 9,75,000 Equity Shares of face value of INR 2 each. The Warrants are being issued at a price of
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