August 2021 1. Introduction In 2007, UK-based Vodafone acquired a telecom services company Hutchison Essar, for a consideration of about USD 11 billion. It was a case of an indirect transfer of shares of a foreign company that derived substantial value from assets located in India and which is discussed further in the next section....

July 2021 1. Introduction The Ministry of Corporate Affairs issued a notification[1] (“Notification”) that categorised personal guarantors of a corporate debtor as a separate entity class to whom only certain provisions of Part III of the Insolvency and Bankruptcy Code, 2016 (“IBC”) applied. Part III provides for insolvency and bankruptcy for individuals and partnership firms. This...

June 2021 1. Introduction Both India and the United States consider freedom of speech and expression to be one of the preeminent rights in a free and democratic republic. Both nations acknowledged that priority by weaving it right into their constitutions, and each has acknowledged that the right to free speech and expression is not...

May 2021 1. Introduction Over the years, the dissatisfaction with litigation has bolstered arbitration as a preferred means of dispute resolution, and would be true even for two domestic contracting parties or in a cross-border transaction. The basis of any arbitration proceeding is the arbitration agreement. Under the Arbitration & Conciliation Act, 1996 (“Act”) this...

April 2021 1. Introduction In any M&A transaction between two (or more) parties, strong representations and warranties (“R&W”) are both essential and customary which, in turn, are usually backed by indemnities. The R&W statements relate to a period prior to a contemplated transaction, which are asserted to be true upon the date of contract execution...

February 2021 1. Introduction Corporate Social Responsibility or CSR has existed in some form since centuries. Historically, it manifested in community engagement backed by a belief that every company has a moral responsibility to play an active role in discharging its social obligations, provided it was economically viable. While it was never codified, but that...

January 2021 1. Introduction A year or so after the pandemic broke, the world may have adapted to the changed environment but it is not easy for companies to manage in these volatile and uncertain times. As the corporate sector grapples with various issues like high non-performing assets, boardroom disputes, senior management officials and directors...

December 2020 1. Introduction The term “arbitrability” refers to whether a dispute or classes of disputes are capable of being settled through arbitration. The Arbitration and Conciliation Act, 1996 (the “Act”) omits to define the contours of arbitrability; a position that has not changed even after the amendments over the years. As a result, the...

November 2020 1. Introduction On September 28, 2020, the Code on Social Security, 2020 (“Code”) received the Presidential assent and was notified in the Official Gazette. It is yet to be made effective and supplemented by rules. Following the recommendations of the Second National Commission on Labour, the Code attempts to repeal and consolidate provisions...