When the Engagement Ring Doesn’t Fit – Why M&a Deals Fall Apart

By | India Corporate Law | August 17, 2017
Mergers are compared to marriages. As a union of companies, they require patience and understanding, but they also involve a large amount of paperwork. Mergers, like marriages, can flourish with the right synergies, but if there are differences between the entities, the arrangement can often collapse. View Full Post
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SEBI Directions On 331 “Shell Companies” – Misguided Enthusiasm

Many issues crop up from the Securities and Exchange Board of India (SEBI) letter dated August 7, 2017 (the Directions) to the BSE Limited, the National Stock Exchange of India Limited and the Metropolitan Stock Exchange of India Limited (collectively, the Stock Exchanges) instructing the Stock Exchanges to immediately: move 331 companies (the Companies) to Stage VI of the Graded Surveillance Measures (GSM); restrict trading in securities of these companies to once a month (with stringent conditions); direct a forensic audit of each Company; and initiate a compulsory delisting of the Companies failing the forensic audit. View Full Post
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What is Relevant to Know About the Maternity Benefits Act and the Employees’ State Insurance Act

By | India Corporate Law | July 24, 2017
Second in our series of Employment Law blogs on the Maternity Benefit Act. The earlier piece was published here. The Maternity Benefit Act, 1961 (MB Act) was amended by the Maternity Benefit (Amendment) Act, 2016 (MB Amendment Act) which became effective on April 1st, 2017 (except for the provision that required a crèche facility to be provided by the employer, which came into effect on July 1st, 2017). View Full Post
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Analysis of Certain Aspects of the Maternity Benefit (Amendment) Act, 2016

By | India Corporate Law | June 27, 2017
The Maternity Benefit (Amendment) Act, 2016 (“Amendment Act”), which was passed by Parliament on March 9th, 2017, introduced certain significant changes to the Maternity Benefit Act, 1961 (“MB Act”). The Amendment Act received Presidential assent on March 27th, 2017 and came into effect from April 1st, 2017 except for the provisions, that require an employer to provide a creche facility. View Full Post
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Entry Tax – the Quandary Continues…

By | India Tax Law | June 20, 2017
The constitution validity of Entry Tax has faced a series of challenges. It was hoped that once the constitutional bench took control of the matter, the controversy would be resolved once for all. However, even after the constitutionality of the levy of Entry Tax per se was upheld by the majority of a nine judge bench of the Hon’ble Supreme Court (SC) in the case of Jindal Stainless Steel v. View Full Post
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Need for New Voting Regime to Achieve True Independence

By | India Corporate Law | June 8, 2017
It seems we live in an independent director-bashing era. News articles, blogs, scholarly write-ups are replete with criticism relating to independent directors, whether it’s to do with their appointment, ‘true’ independence, removal, resignation or generally their very existence! Anything remotely connected to what such directors do is presented as wrong. View Full Post
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