Obhan&Associates

Recently, the High Court of Delhi, reinforced the application of Section 32A of the Insolvency and Bankruptcy Code, 2016 ("IBC"). Section 32A of the IBC states that the liability of a corporate debtor ("CD") for an offence committed prior to commencement of the corporate insolvency resolution process. ...

The Securities and Exchange Board of India ("SEBI") has enacted significant amendments to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, through the Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024. ...

Earlier this year, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in her budget speech announced the intent to simplify the regulatory framework governing Foreign Direct Investments ("FDI") and Overseas Investments ("OI"). ...

The Indian government has notified amendments to the Indian Trade Marks Act, 1999, which decriminalises minor offences and revises penalties, and also introduces an adjudicating mechanism. These amendments came into effect from 1 August 2024. ...

In the recent case of M/S Plus91 Security Solutions v NEC Corporation India Private Limited (Erstwhile NEC Technologies Private Limited) , the Delhi High Court ruled that an Arbitral Tribunal awarding damages for loss of profits was patently illegal if the same was against the terms of the contract. ...

The Companies Act, 2013 ("Act") is the primary legislation on the law of companies in India and deals with the incorporation, registration, regulation, and administration of companies registered in India. While the primary nature of the legislation is regulatory, it also contains several ‘enforcing provisions’ that serve to impose penalties on instances of non-compliance. ...

The Indian government has notified amendments to the Indian Patents Act, 1970, which decriminalises minor offences and revises penalties. These amendments go into effect from 1 August 2024. ...

In a move to boost investments in Indian capital markets, the Securities and Exchange Board of India ("SEBI") in its recent circular dated June 27, 2024 amended the SEBI (Foreign Portfolio Investors) Regulations, 2019 ("FPI Regulations, 2019") vide the SEBI (Foreign Portfolio Investors) Second Amendment Regulations. ...

Convertible notes also known as convertible promissory notes ("Notes") are a form of debt instruments that convert from debt to equity upon the occurrence of a predetermined conversion event or lapse of a fixed time period, and often at a predetermined conversion rate. ...

The Bharatiya Nyaya Sanhita, 2023 ("BNS"), the legislation that replaced the existing Indian Penal Code, 1860 ("IPC") was brought into effect on July 1, 2024. BNS while introducing various new offences also reformulates certain older provisions and introduces new nomenclature for some offences. . . .