SEBI’s ‘WhatsApp Leak Case’ Order: An unusual Precedent?

Abhishek Iyer Introduction Back in 2017, several media reports emerged about the circulation of Unpublished Price Sensitive Information [Hereinafter “UPSI”] of about 12 listed companies in various private WhatsApp group chats. On 29th May, 2020, Securities and Exchange Board of India [Hereinafter “SEBI”] through its Adjudication Order[1] imposed a penalty of Rs. 45 lakh and [...]

Pre-Packs in Indian Insolvency Regime – A Much-Needed Paradigm shift

Vishesh Jain and K.Amoghavarsha Introduction On 5th June 2020, the Government of India promulgated an ordinance for the Insolvency and Bankruptcy Code, 2016 as a closing move to what was a series of steps to protect Corporate Debtors from initiation of insolvency proceedings in these unprecedented times. It has inserted Section 10A which has effectively [...]

Revisiting Internet Shutdowns and the Right to Freedom of Expression

Rashi Rawat and Himanshu Kumar Introduction In January 2020,  the Supreme Court in Anuradha Bhasin took an unprecedented stand on the rampant internet shutdowns in India. According to the Court, it was a situation in which Liberty and Security were at loggerheads and it was of great significance that this pendulum should not swing to [...]

Bostock v. Clayton County: An Uphill Battle for LGBT Rights in the United States

Ashna D. Senior Editor - NLJ Board A Win for LGBT Rights at the Workplace Since 2019, efforts have been underway in the United States to pass the Equality Act, which would extend much needed federal law protections under the 1964 Civil Rights Act to the LGBT community. The Bill, now pending consideration by a [...]

Parlous State of The Speaker Under Anti-Defection Law: The Manipur Legislative Assembly Crisis

Subiyah Hafeez Siddiqui and Arifa Hafeez Siddiqui Introduction: The Manipur Legislative Assembly recently witnessed what has become a norm in Indian politics: abuse of power, complete disregard of electoral mandate and violation of the constitutional process. The Speaker of the Assembly, Yumnam Khemchand Singh failed to attend to the application moved to disqualify eight members [...]

Independence of Resolution Professional: Confounding the Aspect of Bias Under the Code Through SBI V. Metenere Ltd.

Saumya Agarwal and Sakshi Ajmera The National Company Law Appellate Tribunal (NCLAT) on 22 May 2020, in the case of State Bank of India v. M/s. Metenere Limited  adjudicated upon the issue of independence of an interim resolution professional (IRP)/ resolution professional (IRP) during a corporate insolvency resolution process (CIRP). Though in the instant case, [...]

Solving The Problem of Information Asymmetry in Social Impact Investments: Analysing SEBI’S Proposed Social Stock Exchange

By Anurag Shah Introduction The Securities and Exchange Board of India on June 1st, 2020 released the working paper for the introduction of a ‘Social Stock Exchange’ (Hereinafter referred to as SSE).[1] As the working paper accurately states, this idea was introduced by our Finance Minister and has been under consideration since the last financial [...]

E-Commerce and Vertical Agreements: Is The Latter’s Scope Under the Competition Act Limited?

By Shagun Singhal and Khushbu Turki Introduction The Competition Act, 2002 (‘the Act’) sets out the prohibition against anti-competitive agreements under Section 3(1) of the Act.[1] Even though the Act does not explicitly use terms like horizontal or vertical agreements, it prohibits these under Section 3(3) and 3(4), respectively.[2] The Act provides for five types [...]

BAD BANKS: IS IT THE WONDER DRUG TO THE INDIA’s NPA CRISIS

By Vaishnavi Vyas and Priyanshu Agrawal Introduction The outcome of the Global Financial Crisis, in the mid-2000s, caused the first wave of the Indian Banking catastrophe in the form of the Twin Balance Sheet crisis. The infrastructure projects began to go sour, affecting companies’ capacity to repay loans and thereby deteriorating the balance sheet of [...]

SEBI’S WORKING GROUP REPORT ON RELATED PARTY TRANSACTIONS: STRENGTHENING THE REGULATORY NORMS

By Palash Moolchandani Introduction The infamous fallout between the promoters of Indigo Airlines in 2019 brought to light a number of lapses in corporate governance within the organization.[1] The uncovering of these problematic circumstances started the dialogue on related party transactions and regulatory framework in India, which went on to become the heart of the [...]