The first article on “Resolving disputes the ‘Ordinance’ way” in Corporate Amicus, December 2015 issue discusses Arbitration and Conciliation (Amendment) Ordinance, 2015. According to the author, though the Ordinance has ushered a positive change, some gaps remain and secondly the provisions are not far reaching in their scope as was initially recommended by the Law Commission. In the second article titled “Arbitration Ordinance, 2015 – ‘Public Policy’ defined”, the author concludes that in the view of the inclusion of the definitions to the terms ‘Public Policy of India’ and ‘fundamental policy of India’ it remains to be seen whether ‘Public Policy’ will be construed narrowly, addressing the major concerns of investors by improving the efficacy of dispute resolution.
Sections 13 & 14 of the Companies (Amendment) Act, 2015 have come into force. Notifications & Circular section in this Amicus also includes amendment by the SEBI in Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 has also been amended by RBI, which has also allowed exporters to avail the Interest Equalisation on Pre and Post shipment Rupee Export Credit.
This month’s issue provides summary of several important case law under Ratio Decidendi part. The Supreme Court of India has in a dispute involving SEBI (Substantial Acquisition of Shares and Takeovers), 1997, decided the question as to whether previous or contemporaneous acquisitions by the acquirers or persons acting in concert will be considered for computing the minimum offer price. Competition Appellate Tribunal (COMPAT) has asked Competition Commission of India (CCI) to evolve a comprehensive protocol and lay down guidelines for conducting investigation/inquiry in consonance with the rules of natural justice. Readers may go through the issue for a report on these orders.