The Delhi High Court, in the case of Action Ispat and Power Limited v. Shyam Metalics and Energy Limited (decided on October 10, 2019) held that an application seeking transfer of proceedings from the Delhi High Court to the National Company Law Tribunal operating under the Insolvency and Bankruptcy Code, 2016 (“IBC”) is maintainable. FACTS […]
In Jindal Steel and Power Limited v. Arun Kumar Jagatramka and Another (dated October 24, 2019) the National Company Law Appellate Tribunal (“NCLAT”) has held that even though a compromise and arrangement is permissible with respect to a company undergoing liquidation, however, the promoter of such a company is ineligible to make an application for […]
The High Court of Delhi, in the case of Swami Ramdev and Another v. Facebook, Inc., and Others (decided on October 23, 2019) ordered Facebook, Inc. and other platforms to takedown, remove, block, restrict or disable access on a global basis, to all the defamatory videos and content that was challenged in this suit, from […]
Pursuant to India’s increased focus on boosting foreign investment and cross-border businesses along with countering harmful tax practices, following developments have taken place recently: Indian’s Union Cabinet approves the signing of the Protocol amending the India Brazil Tax Treaty for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on […]
On November 4, 2019 at the ASEAN summit held at Bangkok, India opted out of the negotiations for signing the Regional Comprehensive Economic Partnership (RCEP), a proposed free trade agreement in the Asia-Pacific region with 15 other potential participants previously projected to account for over 30% of the global GDP. Earlier in the year, India’s […]
Competition Commission of India increases the filing fee for merger notifications. The Competition Commission of India (CCI) vide notification dated 30 October 2019 has amended the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations). By way of the amendment, the CCI has revised the […]
