Stamp Duty issues in slump sale transactions
By Rohit Subramanian and Neeraj Dubey
Slump sale is a commonly used method of business acquisition wherein an undertaking as a “going concern”is transferred from one entity to ano...
Mergers & Acquisitions provisions notified in Companies Act
By Kanika Shukla and Vidhi Aggarwal
The Companies Act, 2013 (Companies Act) is one of the landmark legislations enacted in recent years to bring forth transparency, ease of doing business and protecting rights of minority shareholders. The Companies Act was, in many ways, perceived as a reaction to the Satyam scam which uncovered...
Benami Transactions (Prohibition) Act - A Study in Comparison
By Barnik Ghosh and Sreya Bhar
In a further crackdown on the parallel economy that has affected the Indian economy adversely, the Central Board for Direct Taxes (CBDT) on November 1, 2016 has notified the Benami Transactions (Prohibition) Amendment Act, 2016 (Amendment Act). The Amendment Act brings within its purview ...
Stamp duty payable on scheme of Amalgamation
By Prashanth Shivadass
A recent Bombay High Court judgement [ see end note 1] sparked a debate amidst corporate lawyers on the issue of stamp duty payable on the order sanctioning the scheme of amalgamation where the transferor and transferee companies have registered offices in two different States in India.
A primer on e-commerce business and related laws in India
By Venkata Raghavan
E-commerce, in recent times, has mushroomed and has now touched all forms of business transactions in the country. Due to the ease, safety, security and convenience provided by electronic payment systems, E-wallets or mobile wallets have taken over the traditional system of payments.
The latest Consolidated Fore...
Real Estate (Regulation and Development) Act, 2016 – A Comment
By Anup Koushik Karavadi
The land-population disparity heralded great demand in the real estate sector in India. This demand clubbed with the dearth of a proper vigilance mechanism ramified the real estate sector into a money minting ground.
Conscious of the growing need to regulate the real estate sector and regulated private participatio...
Agreement in Restraint of Legal Proceedings – Is your Bank Guarantee valid?
By Sudish Sharma & Nikhil Singal
The original text of Section 28 of the Indian Contract Act, 1872, which voids agreements made (or containing clauses) in restraint of legal proceedings, has been subject to many amendments over the years. In fact, in 1997, the original Section 28 was replaced with a new one, after taking into consideration the...
Corporate Insolvency Procedure – A Comment
By Anup Koushik Karavadi
Background and need
From the Justice Eradi Committee report of 1999 to the Department of Financial Services’ indicator of October 2015, the pendency of winding-up cases in India has been piling up to reach an alarmingly high level of backlog [see end note 1]. The World Bank h...
Alternative Remedy for Imported Coal Price Escalation
By Radhika Sankaran
Of all the available sources of power generation like coal, nuclear, hydro, natural gas, and the renewable energy sources like solar, wind etc., coal continues to be the major and cost effective source of power generation in India, contributing to 70% of the country’s power requirements [End Note 1] Coal utilised for the power generation...
SEBI’s Bright Line Tests for ‘Control’ - An Analysis
By Prarthna Baranwal
The idea of corporate control has been subject to a longstanding debate in India and elsewhere. A fluid concept such as ‘control’ is a term of wide connotation and, by its very nature, is not amenable to any precise standard definition of general application. What constitut...
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