In furtherance of its previous corporate governance reliefs, the Ministry of Corporate Affairs (“MCA”) has introduced the Companies Fresh Start Scheme, 2020 (“CFS Scheme”) and amended the LLP Settlement Scheme, 2020 vide its circular dated March 30, 2020 (“LLP Modified Scheme”) to allow defaulting companies and limited liability partnerships (“LLPs”) an opportunity to file belated […]
Tuesday, March 31, 2020 The novel coronavirus (COVID-19) pandemic has disrupted markets, business operations and supply chains worldwide. Its continuous spread presents an unprecedented challenge for boards of directors and senior management of publicly-traded corporations (“reporting issuers”). We highlight some areas to consider in managing business continuity and in meeting reporting issuers’ continuous disclosure obligations. […]
In a significant move, the Ministry of Health and Family Welfare (“MoHFW”) on March 25, 2020, has issued the Telemedicine Practice Guidelines (“Guidelines”) for enabling Registered Medical Practitioners (“RMPs”) to provide healthcare using telemedicine. As per the Guidelines, ‘telemedicine’ is the delivery of health care services, where distance is a critical factor, by all the […]
The Union Finance & Corporate Affairs Minister, Government of India, Ms. Niramla Sitharaman, in her interactions with the press yesterday, i.e., on March 24, 2020, has announced multiple relaxations to statutory and regulatory compliances under various legislations viz., the Companies Act, 2013 (“CA2013”), Limited Liability Partnership Act, 2008 (“LLP Act”), Insolvency and Bankruptcy Code, 2016 […]
Restriction on Collection of Fees by Schools in Uttarakhand: Uttarakhand Education Department has released a circular on March 25, 2020 restricting all CBSE, ICSE and other boards affiliated aided and un-aided schools within Uttarakhand from collection of fees till re-opening of the schools. All schools within Uttarakhand have been directed not to force the parents […]
The medium to long term financial effects of Coronavirus are yet to unfold, but the magnitude is already anticipated to be huge. Many countries across the world are announcing financial packages for businesses. India is also on the track to take a decision on relief packages. With widespread lockdowns, the coming months are expected to […]
Part 1: Force Majeure and Suspension/Termination of Contracts Coronavirus (COVID-19) is turning out to be a twin fold pandemic – that started with affecting public health and soon spread throughout the economy. Sudden global shutdown and travel restrictions have brought the economy to a screeching halt before most of us could even comprehend the real […]
The crypto-currency platforms have been subjected to various governmental actions in the past without the virtual currencies being banned in India. In a huge relief to the crypto-currency exchanges and platforms, the Supreme Court of India in its recent judgment in the matter of Internet and Mobile Association of India vs. Reserve Bank of India […]
The coronavirus pandemic in its various ramifications, such as the transport restrictions resulting from cascading border closures, stands to impact on international commerce and to bring significant losses down on suppliers and on buyers alike. Please read on for some hints as to how international business law may offer succour to enterprises struggling with these […]
If you have questions or would like additional information on the material covered herein, please contact: Ms. Swet Shikha, Associate [email protected] Judgment: Gujarat Urja Vikas Nigam Limited vs Nitash Co-generation Private Limited Forum: National Company Law Tribunal, Mumbai Bench (“NCLT”). Act/Law: The Insolvency and Bankruptcy Code, 2016 (“Code”). Ratio: Claim for “Liquidated Damages” cannot trigger […]
QUESTION ONE – When representing a client with significant business activities in foreign jurisdictions, what are some key risk-related concerns that arise in a cross-border context and how can a parent company minimise such risk? For foreign corporations engaging in business in the US, one of the key concerns is the exposure of the parent […]
Friday, February 28, 2020 With the upcoming 2020 proxy season fast approaching, both issuers and investors should be aware of changes and developments in a number of areas of corporate governance and securities law. As in past years, proxy advisory firms Glass, Lewis & Co. (“Glass Lewis”) and Institutional Shareholder Services (“ISS”) have updated and […]