Corporate Law

The Mediation Act, 2023 (the “Act”) was passed by the Rajya Sabha on August 1, 2023, the Lok Sabha on August 7, 2023, and was notified in the Gazette of India after receiving the assent of the President of India on September 15, 2023. First introduced in Parliament on December 20, 2021 (“2021 Bill”), the 2021 Bill was then referred to a Parliamentary Standing Committee (“Standing Committee”), which submitted its report to the Rajya Sabha chairperson on July 13, 2022. ......

The High Court of Telangana, in its judgment dated August 24, 2023 in the case of M/s GMR Spintex Private Limited, rep. by its Director v The Regional Director, Ministry of Corporate Affairs , upheld an order passed by the Ministry of Corporate Affairs, where, it directed the change of name of a company on the grounds that it may cause confusion and deception. ......

Recently, in the case of Amit Guglani and Another vs. L&T Housing Finance Limited and Another , the Delhi High Court adjudicated upon a petition filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996 (the "A&C Act") for appointment of a sole arbitrator ("Petition") under a tripartite agreement dated October 24, 2018, executed between the parties. ......

Financial influencers, commonly called 'finfluencers', are persons who provide information and/or advice on various financial topics such as investing in securities, personal finance, banking products, insurance, real estate investment, etc. through social/digital media platforms/channels, and have the ability to influence the financial decisions of their followers. ......

On August 10, 2023, the National Company Law Tribunal, Mumbai ("NCLT") greenlit the merger of Zee Entertainment Enterprises Limited ("Zee") with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India) ("Sony") (hereinafter referred to as the "Zee-Sony Merger"). Following the merger, the resulting entity will be the second largest entertainment network after Disney Star. ......

On July 31, 2023, the Parliament of India, gave green light to the Cinematograph (Amendment) Bill, 2023 (the "Bill") to amend the Cinematograph Act, 1952 (the "Act") and the Bill received the President's assent on August 4, 2023. The Cinematograph (Amendment) Act, 2023 (the "Amendment Act") has been passed after numerous versions and revisions of the draft bill, bringing long sought respite to film producers in the country. ......

On August 7, 2023, the Lok Sabha passed the new Digital Personal Data Protection Bill, 2023 ("Data Protection Bill") to provide for the processing of digital personal data. Currently, India does not have a standalone law on data protection. Use of personal data is currently regulated under the Information Technology (IT) Act, 2000. ......

From an iconic toy, a mainstay for children around the world for decades, to an economic powerhouse in her own right, Barbie is undoubtedly an iconic pop culture figure. Created by Ruth Handler, the co-founder of Mattel Inc. ("Mattel"), after coming across Bild Lilli, a popular German novelty toy first created in 1952, while on a family vacation in Switzerland in 1956. ......

The Securities and Exchange Board of India ("SEBI"), by way of its notification dated June 14, 2023, amended the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations"). Through this amendment, the SEBI introduced a crucial, timely and rather unique requirement for the top 100 and top 250 listed entities in India to address market rumours. ......