Lakshmi Kumaran & Sridharan AttorneysAn ISO 9001 / 27001 certified law firm

Corporate News

Search From Date To Date
Consolidated FDI Policy

The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India has released the latest Consolidated FDI Policy, 2017 (FDI Policy 2017), effective from August 28, 2017. Some major changes reflected in the FDI Policy 2017 are outlined below:

Investment exceeding Rs. 5000 Crores - Previously, additio...

Pendency of winding up petition when not bars initiation of corporate insolvency process

6 June

Key points:

  • If a notice for winding-up is served to the corporate debtor/respondent company or if the application for winding-up is pending before the High Court and no order has been passed as on date: an application under Insolvency Bankruptcy Code, 2016 (IBC) can be filed with the National Company Law Tribunal (NCLT) wit...

Corporate insolvency proceedings can be initiated for dishonour of post-dated cheques

6 June

Key Points:

  • Issuance of post-dated cheques to any person will amount to acknowledgement of legally enforceable liability;
  • Dishonour of post-dated cheques would amount to “default” under the Insolvency and Bankruptcy Code, 2016 (“Code”) and can be used as a ground for initiation o...

RERA - Operative provisions notified

6 June

RERA is a legislation that has been formulated with a view to (i) protect the interest of the allottees by promoting transparency, accountability and efficiency in the construction and execution of real estate projects by promoters and (ii) establishing uniformity, standardization of business practices and transactions in the real estate sector.

Corporate Insolvency Resolution Process – NCLT clarifies scope of ‘operational debt’

6 June


The National Company Law Tribunal (NCLT) has passed an order on dated 31-3-2017 interpreting the definitions of ‘operational creditor’ and ‘operational debt’ under the Insolvency and Bankruptcy Code, 2016 (Code).

NCLT rejected the application filed under Section...

FEMA violation not a valid defence against enforcement of foreign arbitral award

15th May 2017


A petition was filed before the High Court of Delhi, by the Petitioner in the instant case, Cruz City 1 Mauritius Holdings (Cruz City), a company incorporated under the laws of Mauritius, to enforce an arbitral award rendered under the London Court of International Arbitration Rules (Award), with respect to a d...

Existence of “dispute” in terms of Insolvency Code bars initiation of insolvency process

11th May 2017

Key points

  • The definition of the word “dispute” is not exhaustive but illustrative. A corporate debtor has the right to reject a demand on any sustainable ground other than showing a pending suit, arbitration proceeding or the breach of representation or warranty. The sustainability of suc...

Listing date crucial in determining exemption from open offer obligations

8th May 2017

Key Points

  • It is irrelevant whether the same promoters were holding the same shares for over a long period either in the target company or in the parent company or both, prior to listing the target company. The only relevant factor is date of listing the target company and the promoter holding filed by the targe...

Merger control exemptions - Expansion of scope

4th May 2017

The Ministry of Corporate Affairs, vide Notification dated March 27, 2017 (2017 Notification), has expanded the scope of combinations under Section 5 and Section 6 of Competition Act 2002 (Act) which are eligible for an exemption from seeking approval of Competition Commission of India (CCI) based on certain de-minimis thres...

Voluntary liquidation process - Draft Regulations issued

7 March 2017

On February 14, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has published draft Regulations applicable to the voluntary liquidation of corporate persons under Part II of the Insolvency and Bankruptcy Code, 2016 (IBC).

Section 59 of the IBC mandates a corporate person to meet such conditions and procedural requirem...

Integrated Reporting by listed entities

7 March 2017

Currently, SEBI mandates the top 500 listed entities in India (based on market capitalization calculated as on March 31 of every financial year) to prepare a business responsibility report describing initiatives taken from an environmental, social and governance perspective (in accordance with Regulation 34(2)(f) of SEBI (Listing Obligations ...

Breach of promise of ‘assured returns’ when not Financial Debt

7 March 2017

Key Point:

  1. A forward contract to sell product at the end of a specified period - such as a contract for sale/purchase of property will be treated as a contract for sale of specified goods.
  2. ‘Financial debt’ includes such financial transactions which are usually for a su...

Page(s) 1 2 3 4 5 6 7 8 9 10 11 
Please refer 'Archives' section to see older items.
Search People
Search People
Alphabetical by First Name
Enter at least a name or a keyword to search