Recent Ordinances issued by the Government of Telangana, amending certain provisions of the Telangana State Gaming Act, 1974, have dealt a bad hand to the players and organisers of Online Rummy, resulting in their casting away their cards abruptly.
Foreign Direct Investment upto 100 percent is allowed in single brand retail trade sector.
The Apex Court has recently passed a judgment, for the first time, interpreting the scheme of IBC along with certain key provisions, that goes on to establish the efficacy of IBC while upholding the reasons for which the said law was introduced.
Considering the pressing need to replace the labour law related legislations with laws which reflect India’s real story today, the government in its annual budget presentation this year announced merging of 44 labour laws into 4 codes on (i) wages; (ii) industrial relations; (iii) social security and welfare; and (iv) safety and working conditions.
The complexity surrounding transactions in mergers and acquisitions can never be under-estimated. Such transactions undergo a prodigious milieu, which involves discussions, proposals, negotiations and most importantly, regulatory approvals.
Various benches of NCLT have been pronouncing conflicting orders giving rise to inconsistency in interpretation of Insolvency and Bankruptcy Code (IBC) provisions.
Public offer in relation to acquisition of shares and takeover of public companies in India is governed by a self-contained code enshrined in the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Answering the question as to whether a person who is unable to demonstrate having an ‘interest’ in the affairs of a company, is entitled to obtain copies of such company’s statutory registers, NCLT has recently held that the term ‘any other person’ in relation to a company should include any person who has a business interest in such company, such as a creditor, investor, banker, customer, etc.
With the announcement of phase-wise abolition of Foreign Investment Promotion Board (FIPB), and of further liberalization of the FDI policy, it is almost certain that a greater role would be given to the Reserve Bank of India or to the concerned Ministries.
Companies Act, 2013 has been amended by Insolvency and Bankruptcy Code, 2016. The amendment now defines the term “winding up” as “winding up under this Act or liquidation under the Insolvency and Bankruptcy Code, 2016.”