Corporate Law

The Reserve Bank of India ("RBI") recently published a concept note on Central Bank Digital Currency ("CBDC") to explain its approach towards introduction of the digital rupee and create awareness for its planned features. ......

Insolvency Proceedings are commenced upon bankruptcy of a debtor. In simple terms, bankruptcy is inability of a corporate debtor to pay back its creditors. Insolvency and Bankruptcy Code, 2016 (“IBC”) governs insolvency proceedings in India. A corporate insolvency resolution process (“CIRP”) is a recovery mechanism for the creditors of the corporate debtor and the CIRP can be initiated under Section 7 & Section 9 of the IBC. ......

The Ministry of Information and Broadcasting, Government of India ("MIB"), on December 4, 2020, had issued an advisory addressed to private satellite television channels to adhere to the guidelines on online gaming issued by the Advertising Standards Council of India ("ASCI"), which contained certain best practices for advertisements of online gaming, across several mediums. ......

The Ministry of Information & Broadcasting (“MIB”) reportedly directed the online video-sharing platform, YouTube to remove 45 videos from 10 channels hosted on its website on September 23, 2022 under the provisions of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“IT Rules, 2021”). ......

Corporate Social Responsibility (CSR) regulations in India require certain companies to mandatorily undertake CSR activities and spend at least 2% of their average net profit of the immediately preceding three financial years on CSR activities. ......

Inactive corporations without significant operations or assets may commonly be used to disguise business ownership from government authorities and the public at large. This is a tactic which may often be used for purposes that are spurious—including the evasion of taxes and the illegal siphoning off of money. ......

The Reserve Bank of India ("RBI") released its guidelines on Digital Lending on September 02, 2022 ("Guidelines") for immediate implementation from such date. The Guidelines are applicable to existing customers availing fresh loans as well as any new customers getting onboarded from the date of the circular. ......

India has witnessed a steep rise in digital adoption, culminating in an increased usage of networked payment infrastructures like UPI, coordinated healthcare and vaccination platforms like CoWIN and Ayushman Bharat and the like. At the same time, processing abuse poses privacy risks and other harms at an individual and collective level. ......

The corporate landscape of India has been conservative in its dealings, as outright battles for control are a rarity as far as the field of M&A goes. In a world where most mergers or acquisitions take place on a cordial note, with both sides as willing parties, a hostile takeover would not have been imaginable even after Swaraj Paul’s infamous attempt to takeover Delhi Cloth Mills from the Shri Ram family and Escorts Limited from the Nanda family. ......