Tag: Companies Act
November 28, 2019
Corporate Law
Corporate Law
Related Party Transactions: How Close is too Close?
Related party transactions have once again found themselves the subject of public scrutiny due to occurrences at InterGlobe Aviation Limited ("Interglobe"), which runs and operates the low-cost airline Indigo. Interglobe has been facing stormy weather following a dispute between its promoters, Rakesh Gangwal and Rahul Bhatia. Since mid-2018 the feud between both promoters has snowballed into a very public feud. While there are several contentious issues on which the promoters disagree, one of the main reasons for their public fallout has been over related party transactions. In 2018, Rakesh Gangwal flagged and alleged that Interglobe has entered into related party transactions with several companies associated with Rahul Bhatia, a charge that the latter insists is mala fide. ...
May 13, 2019
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
CLASS ACTION SUITS IN INDIA : Government notifies thres...
In January 2009, India witnessed one of its biggest corporate scandals - the ‘Satyam scandal’ also referred to as ‘India’s Enron’. Satyam Computers Services Limited ("SCSL") was under the microscope for fraudulent activity and misrepresentation of its accounts to its board, stock exchanges, regulators, investors and all other stakeholders. Thereafter, shareholders of SCSL, approximately 300,000 were unsuccessful in claiming damages worth millions due to the absence of the provision for filing a class action suit under the Companies Act, 1956.American investors on the other hand were able to claim their part of damages in the US courts through a class action suit against SCSL....
February 26, 2019
Intellectual Property | Copyright
Intellectual Property | Copyright
Verification of Registered Office Address
On 21st February, 2019, the Ministry of Corporate Affairs (MCA) notified the Companies (Incorporation) Amendment Rules, 2019 ("Amendment Rules") directing every company incorporated on or before 31st December, 2017 to file E-form INC – 22 A to verify their registered office. This move of the government along with other newly introduced stringent compliances such as director KYCs, is with the aim to tighten the noose around dummy entities....
February 15, 2019
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Companies Act, 2013 – The Companies (Amendment) Ordinan...
The Companies (Amendment) Ordinance 2018 ("2018 Ordinance"), issued on November 2, 2018 brought about significant changes to certain provisions of the Companies Act, 2013 ("Act"). The 2018 Ordinance was passed by the Lok Sabha, though could not be taken up by the Rajya Sabha and which was due to expire on January 21, 2019. In order to give continuity to the amendments introduced by the 2018 Ordinance, it was re-promulgated on January 12, 2019 by another ordinance i.e. the Companies Amendment Ordinance 2019 ("Ordinance") on January 12, 2019 with its provisions effective from November 2, 2018....
February 13, 2019
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Piercing the Corporate Veil – The Companies (Sign...
On 13th June 2018, the Ministry of Corporate Affairs notified Section 90 of the Companies Act, 2013 ("Act") and the Companies (Significant Beneficial Owners) Rules, 2018 ("SBO Rules"). Both aim to make transparent a company’s ownership by tracing the identity of the individuals who ultimately control the company....
The power of transition phrases in Indian patent drafting: the ‘Frimline’ Ruli...
Transition phrases are crucial in patent drafting for they define the scope of a claim. Choosing the correct phrase can impact what rights an applicant can enforce, as determined by the Delhi High Court recently, in Frimline v. K-Smatco
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.
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