Nomination Vs. Succession
In a recent judgement the High Court of Bombay in Shakti Yezdani v. Jayanand Jayant Salgaonkar [1]ruled that legal heirs and not the nominees will obtain the ownership rights of share certificates, effectively circumscribing the
SARFAESI – DRAT has no Power for Complete Waiver of the Deposit
In a recent judgment[1], the High Court of Bombay held that the Debt Recovery Appellate Tribunal (“DRAT”) had no power to completely waive the deposit required under section 18 of the Securitisation and Reconstruction of
Constitutionality of Section 56 of the Civil Procedure Code
The Bombay High Court recently dismissed a public interest litigation, which sought for a declaration that section 56 of the Code of Civil Procedure, 1908 (hereinafter referred to as the “Code”) was ultra vires being
Revisiting Non-Compete Fee In Corporate Transactions
Recently, merger of two major Insurance companies brought the whole issue of non-compete fee (“NCF”) into limelight again. NCF is the fee paid to the promoters of target company in return of the assurance that
SECURITIES CONTRACTS (REGULATION) ACT, 1956 PREVAILS OVER OTHER GENERAL PROVISIONS
Introduction In the instant case of Securities and Exchange Board of India v. M/s. Opee Stock-Link Ltd. & Anr.[1], the Supreme Court explored certain irregularities/illegalities in the Initial Public Offerings (“IPO”) of two companies, viz.,
Summarising the Insolvency and Bankruptcy Code, 2016
Insolvency and Bankruptcy: The Concepts elucidated Insolvency is when an individual or organization is unable to meet its outstanding financial debt towards its lender as it become due. Insolvency can be resolved by way of changing the repayment
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