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Tag: Companies Act

May 29, 2024
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SBO Declarations: A Significant Compliance Challenge – ...

Following an order in the matter of Leixir Resources Private Limited (discussed in our article here), the NCT of Delhi and Haryana has issued yet another order dealing with the aspect of significant beneficial owner ("SBO") and has discussed 'significant influence' and 'control' required to establish the status of SBOs under the Companies Act, 2013 ("Act") and the Companies (Significant Beneficial Owners) Rules, 2018 ("Rules"). ......
May 22, 2024
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SBO Declarations: A Significant Compliance Challenge

Through an order dated May 6, 2024, the Registrar of Companies (the "RoC") of NCT Delhi and Haryana imposed an order of penalty against Leixir Resources Private Limited ("Company") for non-compliance with the disclosure requirements mandated for significant beneficial ownership under Section 90 of the Companies Act, 2013 (the "Act"). ......
April 10, 2024
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Challenging Legal Norms: Analysis of the EIMPA Judgment...

The legal landscape surrounding corporate disputes in India underwent a significant transformation with the enactment of the Companies Act, 2013 ("Act"). Section 430 of the Act delineates the exclusive jurisdiction of the National Company Law Tribunal ("NCLT") and the National Company Law Appellate Tribunal ("NCLAT"), prohibiting civil courts from adjudicating matters falling within the purview of these tribunals. ......
January 5, 2022
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INDIA AND THE CAIRN ENERGY CONUNDRUM: IT’S A WRAP

Cairn Energy PLC (“Cairn Energy”), now renamed Capricorn Energy, is one of Europe’s leading independent oil and gas exploration and development companies. Over the last few years, the Government of India and Cairn Energy have been involved in a dispute related to a retrospective tax that was imposed on Cairn Energy by the Government of India. ......
August 4, 2021
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NEW NORMS ON COMPANY NAMES TO TAKE EFFECT FROM SEPTEMBE...

On July 22, 2021, the Ministry of Corporate Affairs notified the Companies (Incorporation) Fifth Amendment Rules, 2021 (“Amendment”), thereby amending the Companies (Incorporation) Rules, 2014 (“Rules”). The Amendment, has inserted a new Rule 33A (Allotment of a new name to the existing company under Section 16(3) of the Act) after Rule 33 under the Rules. ......
July 7, 2021
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SPACs in the Indian context

In recent years, SPACs, or ‘Special Purpose Acquisition Companies’, have snaked their way into the lexicon of every investor worth its salt. SPACs are the shiniest new ‘instrument’ on the block and the numbers lend into the hype; for instance, 2020 witnessed the execution of a record 248 SPACs raising a collective USD 83 billion on NASDAQ , even as the world succumbed to a pandemic. Further, it is estimated that there are now close to 400 SPACs on the market with more than USD 120 Billion on their balance sheets. ... ...
April 15, 2020
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MCA Clarifies Passing of Ordinary and Special Resolutio...

In the wake of the prevailing Covid – 19 pandemic and subsequent government lockdown in India, the Ministry of Corporate Affairs (“MCA“) has been playing a vital role in implementing several relaxations and directives while taking cognizance of the public health issue before us. ...
January 7, 2020
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Tata’s tata to Mistry? Not if the NCLAT has anyth...

Legacies, while the sturdiest, are often the most vulnerable to that harsh cousin of time, change. The battle royale being played out between Tata Sons and Cyrus Mistry, of the Shapoorji Pallonji Group, certainly seems to echo the thought, and is being closely monitored, as the outcome will set the way forward for one of the biggest conglomerates in India....
January 2, 2020
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The Supreme Court on belated filing of Revised Returns ...

In a recent judgment delivered by Hon’ble Judge Indu Malhotra in the case of Dalmia Power Limited and Ors. Vs. The Assistant Commissioner of Income Tax, Circle 1, Trichy[1], the Supreme Court of India ("Court") upheld the validity of filing of revised returns by an amalgamated company beyond the time limit prescribed under the Income Tax Act, 1961 ("IT Act")....

Representations, Warranties and Covenants: What are the consequences of breach?

Representations, Warranties and Covenants clauses are included in all commercial contracts. Traditionally, the nomenclature has not been clearly delineated, and representation and warranties are grouped together in a manner that often led them to be viewed as synonymous terms.

Pharmacyclics Continues the Divisional Applications Debate in India

In 2024, the Indian Patent Office (“IPO”) issued the Patents (Amendment) Rules, 2024 (“Rules”), which, among other things, amended the rules relating to filing of divisional applications.

An Analysis of the Reserve Bank of India’s Master Direction on Regulation of Payment...

On September 15, 2025, the Reserve Bank of India ("RBI") issued the Master Direction on Regulation of Payment Aggregators, 2025 ("Master Direction"), a framework governing both bank and non-bank entities engaged in the business of payment aggregation ("Payment Aggregators" or "PA").

Removal of fetters on the Arbitration process: Arbitration is not foreclosed due to pendin...

The Arbitration and Conciliation Act, 1996 was enacted to facilitate expeditious and affordable resolution of disputes pertaining to in-personam rights arising out of contractual disputes between private parties.

Timing it Right: Delhi High Court on Pre-Grant Oppositions in India

What happens when a pre-grant opposition is filed after the Controller signs a patent application to grant? This knotty question was answered by the Delhi High Court in a recent case.

Navigating Share Transfer Restrictions in Shareholders’ Agreements Part 2

In our previous Article, we explored the foundational aspects of share transfer restrictions in shareholder agreements ("SHAs"), with a focus on concepts such as tag-along rights, drag-along rights, permitted and automatic transfers, amongst others and the interplay with the Companies Act, 2013 (the "Act").

Collection of Children’s Data under the Digital Personal Data Protection Act: Not Ch...

The protection of children's personal data has and continues to present regulatory and practical challenges for lawmakers, businesses, organisations, institutions and establishments that deal with personal data ("Data Fiduciary").

When “Ok” Becomes “Not Ok”: A cautionary tale of miscommunication from the Indian Patent O...

An important step during patent prosecution in India is the hearing. As the Indian Patent Office (IPO) tends to issue only a single examination report, hearings before the Controller are common.

Navigating Share Transfer Restrictions in Shareholders’ Agreements

Transfer restrictions in shareholder agreements ("SHA(s)") have come to play a critical role in shaping deal dynamics. With India reporting a steady growth in mergers and acquisitions ("M&A"), questions of control, transfer restrictions, ownership flexibility and exit options have become crucial for investors and companies alike.

The Infringer’s Burden in Process Patent Suits in India

Indian patent law contains a unique provision that shifts the burden of proof onto the accused / infringer in process patent suits. But this applies only if certain conditions are met.