Corporate Governance And The Case Of PNB Housing Finance

On May 31, the board of PNB Housing Finance approved a preferential issue of equity shares and warrants to certain entities belonging to the Carlyle Group, General Atlantic, Ares SSG, and Salisbusry Investments (a company controlled by Mr. Aditya Puri, the former CEO of HDFC Bank). If the preferential issue is completed, the Carlyle Group will become the company's controlling shareholder with over a 50% majority stake. Further, as required under the SEBI's Takeover Regulations, the...

UPSC Law Optional Test Series Or Answer-Writing

Answer-writing is sine qua non for succeeding in Law Optional for UPSC. Mastering the art of answer-writing for any optional under UPSC is indispensable for clearing the civil services exam. Each Optional subject has its own nuances including UPSC law optional. In this article, we are going to discuss the importance of answer-writing and test series for UPSC law optional specifically. IS IT HARD? The first thing we have to understand is that the way of writing answers in our university...

Impact Of COVID-19 On FDI Regimes: One Year Later

More than a year ago, we summarized certain changes in foreign direct investment (FDI) regimes in response to the COVID-19 pandemic in countries other than India. We concluded that India could consider reviewing its FDI regime to ensure that appropriate checks were in place in respect of certain sectors. In late-April 2020, the Indian Government issued an amendment to the Indian FDI policy to "[curb] opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19...

Should Indian Securities Law Shift Focus From Promoters To Persons In Control?

Indian securities law has focussed on regulating, holding accountable and penalizing "promoters" as a result of concentrated family-owned businesses which are largely prevalent in India. In this regard, the Securities and Exchange Board of India (the "SEBI") defines a "promoter" to include any person: (a) who has been identified as a promoter by the company in its offer documents or annual returns; (b) who has direct or indirect control over the affairs of the company whether as a...

Process Analysis Of Pre-Packs: The Next Step In The Evolution Of Insolvency Regime In India

The enactment of the Insolvency and Bankruptcy Code, 2016 ('the Code') provided a new insolvency regime to the country in order to resolve the corporates and individuals, undergoing financial distress, in a time bound manner. Given the fact that the market for the new professions created by the Code have sufficiently matured and the processes introduced by it have adequately evolved, the Government found it feasible to explore new initiatives in order to further improve the effectiveness...

Intermediary Status: Socially Available, Legally Endangered

The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 ("New Guidelines") came into force on 25 February 2021, superseeding the Information Technology (Intermediary Guidelines) Rules, 2011 ("Previous Guidelines") framed under the Information Technology Act, 2000 ("Act"). These New Guidelines required 'significant social media intermediaries' to comply with the same by May 25, 2021. Meanwhile, Whats app has also approached the High Court of Delhi...

USTR Special 301 Report Of 2021: Key Takeaways For India

India and the United States of America ('US') have always shared a long-standing and cordial trade relation, whereby both nations have viewed each other as important strategic partners for the advancement of common interests. This is evidenced primarily by two reports, first being the US Congressional Research Service (CRS) report dated December 23, 2020[1], which showcased that US bilateral trade with India accounts for about 3% of the total US world trade and the second being the United...

Protection Of Cartoon Characters In India

We all are well aware of several internationally renowned cartoon characters viz. Superman, Batman, Scooby Doo, Mickey Mouse, Tom & Jerry, Flintstone, Tintin etc. and our domestically originated fictional characters like Chacha Chaudhary and Sabu, Tenali Raman, Supandi, Shikari Shambu etc. These characters can very well be categorized as graphic characters, whereby a graphic character means one, which can be depicted by a cartoon or other graphic representation. In this article, we...

Treatment Of 'Inter-Connected' Transactions Under Indian Competition Law

The identification and treatment of transactions that are 'inter-connected with a notifiable 'combination' is fraught with uncertainty. This article aims to provide an overview of the existing Indian merger control framework in the context of 'inter-connected transactions, and address some ambiguities in this regard. A. Applicable Law Under the Competition Act, 2002 (the "Act"), any merger or acquisition, where the parties to such transaction exceed either the asset or turnover...

IP Waiver In The Pandemic: A Human Rights V. IPR Debate

The Trade related Aspects of Intellectual Property Rights Agreement or the TRIPS as it is popularly called came into existence in 1995. It lays down certain minimum standards for the protection and enforcement of intellectual property rights worldwide. Owing to the divide between the global north and the global south, the IP protection standards as mentioned under the TRIPS are tilted in the favour of international corporations and developed countries. Developing countries due to their...

The Onslaught Of COVID-19 On A Secured Childhood

If a nation wants to secure a prosperous future, it probably needs more than just capital; minds that can employ it to create an asset that may ensure progression. These minds are those belonging to the nation's progenies. Unfortunately, for more than a triggering a number of children in India, the second wave of covid19 came as a frost on the lenses of their clear future, making it blurry at best. The plight of these vulnerable souls and in worse cases incomprehensible ones is such, that...

Personal Guarantors Under The Insolvency And Bankruptcy Code, 2016

The Supreme Court of India in Lalit Kumar Jain vs. Union of India & Ors.[1] has dismissed a challenge to a notification dated 15.11.2019 issued by the Ministry of Corporate Affairs,[2] which brought into force the following provisions of the Insolvency and Bankruptcy Code (hereinafter referred to as the 'Code'), 2016: Clause (e) of Section 2Section 78 (except with regard to fresh start process) and Section 79Sections 94 to 187 (both inclusive)Clause (g) to clause (i) of sub-section...