Corporate Law

Corporate Law

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Striding Towards an Empowered and Inclusive Economy: Th...

The Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Union Budget 2023-24 ("Budget") in the Indian Parliament on February 01, 2023. The Budget is centered around opportunities for citizens with special focus on youth, growth and job creation and strong and stable macro-economic environment. ......
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THE NCLAT SHEDS LIGHT ON ENTITLEMENT OF OPERATIONAL CRE...

Recently, the National Company Law Appellate Tribunal ("NCLAT"), in the case of Dharmindra Constructions Private Limited and Anr. vs. Rajendra Kumar Jain Resolution Professional of Kudos Chemie Limited and Ors. held that the operational creditors are only entitled for minimum of the liquidation value and in the absence of breach of any provisions of the Insolvency and Bankruptcy Code, 2016. ......
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Draft IT Amendment Rules: Who Decides What is True?

Access to information and the democratisation of the media is a double-edged sword. While people can now access a repository of millions of informational sources at their fingertips within seconds, conversely it makes it all the harder to wade through the muck. The issue of fake news and misinformation campaigns is not news, rather it has become synonymous with content on the internet, which is now invariably viewed with a pinch of salt. ......
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The MoF’s Amendment-Shaped New Year Wish

In light of the powers accorded to the Government of India under Section 30 of the Securities Contracts (Regulation) Act, 1956; and in furtherance of its public policy goals to ensure that an additional degree of care is embedded into the system with regard to public shareholding, the Securities Contracts (Regulation) Rules, 1957 ("Rules") were enacted by the Government of India. ......
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Anti-Competitive Practices in Digital Markets by Big Te...

Digital markets comprise of internet based (digital) companies with millions of users. Such markets may be dominated with a few leading players emerging over a short period of time. The Standing Committee on Finance ("Committee") submitted its report on 'Anti-Competitive Practices by Big Tech Companies' on December 22, 2022 ("Report"). ......
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Regulations on Online Gaming – Draft Amendments t...

In order to safeguard the users of online games against potential harm, draft amendments to the IT (Intermediary Guidelines & Digital Media Ethics Code) Rules, 2021 ("Draft Rules") pertaining to online gaming were released on January 02, 2023 by Ministry of Electronics and Information Technology ("MeitY") for public consultations. ......
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No Room for Discretion in Contractual Matters

Recently, in the case of the State of Madhya Pradesh v. M/S Sew Construction Limited & Ors. , the Supreme Court ("SC") has held that discretion holds no place in matters relating to contracts unless the discretion has been expressly incorporated by the parties as part of the contract. ......
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The Reasonable Man’s Line of Sight

Section 73 of the Indian Contract Act, 1872 stipulates that in order for a party to be entitled to damages arising from a breach of a contract, the resultant loss/damage ought to have arisen in the usual course of things from such a breach; or in a circumstance where the contracting parties were aware (when they were entering into the contract) that such a loss/damage could subsequently arise from a breach thereof. ......
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Ganging Up on Violent Content on the Radio

In an increasingly more interconnected world, the omnipresence of media can be both a boon and a bane. Before the smartphone age, India had its first ‘Tryst with Destiny’ with the humble radio and the broadcast of several significant historical events (including, of course, the then-Prime Minister’s historical speech), to go on to become a true democratiser of knowledge. ......