Corporate Law

The Bharatiya Nagarik Suraksha Sanhita, 2023 ("BNSS") bill which aims to replace the Code of Criminal Procedure, 1973 ("CrPC"), was introduced in the Lok Sabha on August 11, 2023 along with the Bharatiya Nyaya Sanhita, 2023 and the Bharatiya Sakshya Bill, 2023. The bills have been introduced with the intent of freeing India from the shadow of colonisation, however a plain reading of the BNSS bill reveals that it has retained a majority of the provisions of the soon to be erstwhile CrPC. ......

Among the three bills presented in the Lok Sabha namely, the Bharatiya Nyaya Sanhita Bill, the Bharatiya Nagarik Suraksha Sanhita Bill, and the Bharatiya Sakshya Bill, the Bharatiya Sakshya Bill, 2023 (hereinreferred to as the "BSB") emerged as a significant legislative proposal aimed at replacing the antiquated Indian Evidence Act of 1872 (hereinafter referred to as the "Evidence Act"). The BSB introduces a notable alteration in the admissibility of electronic evidence within the judicial system by encompassing "electronic and digital records" under the definition of "Document". ......

The Bharatiya Nyaya Sanhita Bill, 2023 ("New IPC Bill"), the proposed successor to the existing Indian Penal Code, 1860 ("IPC") was introduced in the Lok Sabha on August 11, 2023. The Bill was tabled along with two other bills: (1) Bharatiya Nagarik Suraksha Sanhita Bill, 2023; and (2) Bharatiya Sakshya Bill, 2023 intended to replace the Code of Criminal Procedure, 1973 and the Indian Evidence Act, 1872 respectively. ......

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. ......