Advent of Blockchain Arbitration in the Current Arbitration Ecosystem
The world is witnessing the birth of an ecosystem where money, contracts and even legal disputes would exist as a code on a decentralized network with the frontier of crypto economy and blockchain technology. In this regard, devising a comprehensive dispute resolution framework that securely safeguards the future of these technological developments in the event of the inevitable tale of disputes becomes imminent.
Managing Employee-Related Considerations Effectively in Corporate Restructuring and Related Transactions
Given today’s market trend wherein organisations inter alia aim for an increased customer base, geographical presence, business profitability, pacing up with the new advanced technology(ies), and maximizing shareholder value, it is common for companies to explore varied forms of corporate restructuring such as mergers, acquisitions, takeovers, business transfer, asset transfer and slump sale. Such corporate restructuring helps companies enter new markets, aids in brand positioning, and facilitates gaining strategic advantage over their competitors, amongst other business reasons.
Remittance of Damages Under FEMA
In a welcome move, the RBI has, in a submission before the Supreme Court of India, contended that prior approval of the RBI is not required when making payments to a non-resident pursuant to an arbitral award. An essential component of any commercial contract is a party’s ability to seek recourse in the event a counterparty fails to discharge their contractual obligations. Damages – i.e. monetary compensation for a breach – are a common remedy. Historically, there has been a regulatory question as to how damages are to be paid where the defaulting party is resident in India and the non-defaulting party is resident outside India.
Rollover Investment by Indian Founders – a FEMA Perspective
Private equity investors acquiring portfolio companies (“Target”) through affiliated acquisition vehicles (“Acquirer”) typically look for the Targets to continue being run by existing (strong) management teams (which in the Indian context, generally includes the Indian resident founders and/or owners, who are resident in India) (“Founders”) who, along with officers appointed by the Acquirer, can continue running the Target after acquisition and provide the financial investor with a profitable exit.
Section 32A of the Insolvency and Bankruptcy Code, 2016: The Shield and Armor for Successful Implementation of Resolution Plans
The Insolvency and Bankruptcy Code, 2016 (“the Code”), a landmark legislation in India’s economic landscape, was introduced with the objective of having a singular consolidated law relating to insolvency of corporate persons, partnership firms and individuals to ensure a time-bound insolvency resolution process focused on maximizing the value of the corporate debtor’s assets.
Unveiling the Complex Web of Corporate Ownership: A Detailed Examination of Significant Beneficial Ownership and Contemporary Trends
In the landscape of corporate governance and regulatory compliance in India, the concept of significant beneficial ownership (“SBO”) has lately emerged as a critical focal point. This heightened attention is primarily due to a series of rigorous actions taken by the various Registrar of Companies (“RoCs”) against notable entities, including multinational giants such as LinkedIn and Samsung. These developments underscore the increasing importance for businesses to thoroughly understand and adhere to SBO regulations not only to maintain transparency but also to avoid punitive measures.