Corporate Law

As former Google CEO Eric Schmidt famously said, "from the dawn of civilization to 2003, five exabytes of data were created. The same amount was created in the last two days." While Schmidt was referring to an event in 2010, with advancements in technology becoming more rapid than ever before, we are arguably living through some of the most exciting times known to humankind, with new kinds of technology shaping up to change every aspect of our lives. ......

In furtherance of its endeavour to review the regulatory norms on alternative investment funds (“AIFs”), the Securities and Exchange Board of India (“SEBI”), on February 3, 2023, issued five consultation papers containing such proposed alterations. Each such consultation paper discussed one proposed aspect of review—detailing the objective, background, issues for consideration, and proposal in relation thereto. ......

“With great influence, comes great responsibility” – this slightly modified adage, was used in the self-regulatory Guidelines for Influencer Advertising in Digital Media (“ASCI Guidelines”), published by the Advertising Standards Council of India. Building upon this principle, the Department of Consumer Affairs has now released a binding guide on the disclosures. ......

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. ......

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. ......

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. ......

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. ......

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"). ......

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. ......