Constitutionality of Section 56 of the Civil Procedure Code
The Bombay High Court recently dismissed a public interest litigation, which sought for a declaration that section 56 of the Code of Civil Procedure, 1908 (hereinafter referred to as the “Code”) was ultra vires being
Revisiting Non-Compete Fee In Corporate Transactions
Recently, merger of two major Insurance companies brought the whole issue of non-compete fee (“NCF”) into limelight again. NCF is the fee paid to the promoters of target company in return of the assurance that
SECURITIES CONTRACTS (REGULATION) ACT, 1956 PREVAILS OVER OTHER GENERAL PROVISIONS
Introduction In the instant case of Securities and Exchange Board of India v. M/s. Opee Stock-Link Ltd. & Anr.[1], the Supreme Court explored certain irregularities/illegalities in the Initial Public Offerings (“IPO”) of two companies, viz.,
Summarising the Insolvency and Bankruptcy Code, 2016
Insolvency and Bankruptcy: The Concepts elucidated Insolvency is when an individual or organization is unable to meet its outstanding financial debt towards its lender as it become due. Insolvency can be resolved by way of changing the repayment
SEBI introduces provisions for exit offer to dissenting shareholders
Introduction The Companies Act, 2013 had introduced an exit option for those shareholders who do not agree with the change in the objects or terms of contract referred to in the prospectus[1] (“Dissenting Shareholders”). However,
SEBI v. Kishore R Ajmera: Voluminous trading in illiquid scrips
Introduction The instant case involves five appeals filed by the Securities and Exchange Board of India (“SEBI”) against brokers and sub-brokers who have indulged in trading of illiquid scrips and artificially creating a high volume
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