Understanding Data Protection Laws in India

By Srishti Ojha and Trisha Dasgupta  Background There is no independent legislation for privacy laws in India. Yet there clearly does exist an express code for data protection laws. This is set out in the Information Technology Act, 2000 (“IT Act”) and particularly in the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data […]

Arbitration initiated after declaration of moratorium is non-est in law

In an important ruling in the case of Alchemist Asset Reconstruction Company Limited vs. M/s. Hotel Gaudavan Private Limited & others dated October 23, 2017 (Available Here), the Supreme Court of India (“Supreme Court”) has ruled that arbitration proceedings initiated after the imposition of the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) […]

#DeJure: Fast track insolvency resolution process for corporates

The Ministry of Corporate Affairs (“MCA“) has vide its Notification dated June 14, 2017 (“Notification“) notified the provisions relating to Fast Track Corporate Insolvency Resolution Process i.e. Section 55 to 58 (both inclusive) of the Insolvency and Bankruptcy Code, 2016 (“Code“). Further, the Insolvency and Bankruptcy Board of India has issued the relevant regulations i.e. […]

ECBs-A Next-Gen Avenue of Resource for NBFCs

By Saurabh Sharma and Harshit Dusad External Commercial Borrowings (“ECBs”) have been one of the primary instruments for Indian corporate entities, to source their financial needs. ECBs are essentially commercial loans in the form of bank loans, buyers’ credit, suppliers’ credit, etc., which is regularly availed by a resident Indian borrower from offshore / non-resident […]

New Role for the Offshore Parent MNC in the Indian Derivatives Market

By Nikita Chawla and Aashka Shah One more step towards ease of doing business in India, is the Reserve Bank of India’s (“RBI”) circular of 21st March 2017 (“Circular”), whichallows multinational companies (“MNCs”) to access the Indian derivatives market on behalf of their Indian subsidiaries (“Subsidiaries”). The Circular provides operational flexibility to MNCs and their […]

An analysis of the Supreme Court’s decision in IDBI Trusteeship Services Limited v. Hubtown Ltd.

By Shashank Prabhakar The Supreme Court’s decision in IDBI Trusteeship Services Limited v. Hubtown Ltd., has provided much needed relief for the foreign investor community. Whilst the decision is a landmark for laying down the law on procedure to be followed in summary suits, the court’s observation on the issues involving FEMA regulations and the […]

Arbitration Amendment Act, 2015 Will not be applicable to Arbitral Awards passed in any proceedings which commenced prior to October 23, 2015

INTRODUCTION A Division bench of High Court of Delhi (“the Court”) in Ardee Infrastructure Pvt. Ltd. v. Ms. Anuradha Bhatia & Ors1 while adjudicating upon the controversy with regard to application of the Arbitration and Conciliation (Amendment) Act, 2015 (“the Amending Act”) with effect from October 23, 2015, to Arbitration and Conciliation Act, 1996 (“the […]

NCLT Regime: Unlisted Companies Witness Stricter Liabilities

Apurva Kanvinde and Abhinav Surana The Government’s attempt to replace the five decade old Companies Act, 1956 was accomplished in 2013 with the notification of the Companies Act, 2013 (“2013 Act”). The 2013 Act brought about sweeping changes in the Indian company law. It increased liabilities for directors and key managerial personnel, prescribed stricter norms […]

SEBI eases norms for angel fund investment in Start-ups

Apurva Kanvinde and Arunabh Choudhary The Securities and Exchange Board of India (“SEBI”) has on 4th January, 2016 amended the SEBI (Alternative Investment Fund) Regulations, 2012 (“AIF Regulations”) in order to boost angel fund investment in start-ups. The amendments to the AIF Regulations were approved in the SEBI Board meeting held in November, 2016. Angel […]