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

Corporate Amicus: September 2012

This month the topic of discussion varies from SEBI's jurisdiction in the light of recent Supreme Court of India decision, to the development of Competition law in India. While one article holds that now any issue of shares to more than specified persons would be treated as public issue, another article deliberates upon the introduction of common viability test as defence in an investigation under Competition law. Maximum permissible limit for external commercial borrowings (ECBs) has been enhanced and Indian parties acquiring joint ventures or wholly owned subsidiaries overseas are now required to file annual performance report. Under Ratio decidendi, Competition Commission has held that Agriculture Ministry and Insecticides Board are not covered under Competition law and Appellate Tribunal for Electricity has held that State Electricity Commission does not have jurisdiction to decide dispute involving central govt. controlled generating company.

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