Karnataka High Court Issues Guidelines For Ascertaining Genuineness Of Parties Before Recording Compromise

The Karnataka High Court has issued guidelines to be followed by courts and Lok Adalat for ascertaining the genuineness of the parties, before allowing a compromise decree, filed before it. A single judge bench of Justice Suraj Govindaraj issued the directions in a petition filed by a party, claiming that its interest in the suit property was compromised by way of a compromise entered into by a person before the Lok Adalat claiming to be its power of attorney holder, without its...

'Another NSEL Scam Is Brewing': Plea Before Bombay High Court Seeks Regulation Of Cryptocurrency Market In India

A lawyer has filed a public interest litigation (PIL) before the Bombay High Court, seeking directions to the Union of India for formulating a comprehensive mechanism to rectify the risks involved in the largely unregulated cryptocurrency market in India, including appropriate legislation and guidelines.The petitioner, a practising advocate and an investor in cryptocurrencies, says that he is aggrieved by the lackadaisical approach of the government in regulating cryptocurrency business that...

Breaking: Bombay HC Restrains IDBI From Selling Shares Pledged By Future Retail's FCRPL Amid Stock Market Collapse Due To Covid-19 [Read Order]

In a huge relief to Kishore Biyani led Future Retails FCRPL (Future Corporate Resources Private Limited), the Bombay High Court granted injunction against IDBI Trusteeship Services Limited from selling shares pledged by FCRP amid a share market collapse due to the threat of Covid-19. Justice KK Tated heard an interim application in a commercial suit filed by Rural Fairprice Wholesale Limited (RFWL) and FCRPL seeking urgent injunctive reliefs in relation to the threatened sale of shares pledged...

Two Ex-SAM Principal Associates Set-Up R&R Law Chamber Focusing on In-House Advocacy

Rohan Batra and Reena Choudhary, who worked at Shardul Amarchand Mangaldas & Co., Delhi as Principal Associates in its dispute resolution team have co-founded R&R Law Chambers in November 2019. Headquartered in Delhi with an associate office at Mumbai, R&R Law Chambers is providing legal representation in complex and high-value commercial disputes before various courts and tribunals in India with specialised focus on in-house advocacy. They also have prior experience in handling...

Debarment of The Defaulting Resolution Applicants: A Need of The Hour

The Insolvency and Bankruptcy Code, 2016 ("Code") and the regulations made thereunder have witnessed several amendments and litigations since the date of notification of the Code. It is an admitted fact that many corporate debtors have seen resolution under the Code, yet there are number of cases which have gone into liquidation due to varied reasons. The courts and tribunals in India have been working tirelessly to implement the spirit of the Code, that is, to promote resolution of...

Shardul Amarchand Mangaldas Advises Royal DSM N.V. And DSM India Private Limited In Acquisition Matter

Shardul Amarchand Mangaldas (SAM & Co) and Clifford Chance advised Royal DSM N.V. ("DSM") and DSM India Private Limited in acquisition of the Engineering Plastics Business ("EPB") of SRF Limited on a slump sale basis, by way of entering into a business transfer agreement ("BTA") for an enterprise value of INR 3,200,000,000 (Indian Rupees three hundred and twenty crores) subject to working capital adjustment. The Mergers & Acquisitions practice team at SAM & Co acted as...

Shardul Amarchand Mangaldas & Co. Team Wins Legal Expertise Award At FT Innovative Lawyers Asia-Pacific Awards 2019

Shardul Amarchand Mangaldas & Co. won the prestigious 'Innovation in Legal Expertise: Enabling Business Growth and Transformation' Award at the Financial Times Innovative Lawyers Asia-Pacific Awards at an awards ceremony held in Hong Kong earlier tonight. The Award recognises the complex and innovative aspects of the transaction involving the insolvency and acquisition of Monnet Ispat & Energy Limited(MIEL) by a consortium comprising of AION, a leading private equity fund...