Burgeon Law

Decoding Testamentary Succession

Decoding Testamentary Succession

Introduction Succession is the legal process by which the assets of a deceased person are transferred to their legal heir. Testamentary succession specifically pertains to the succession of a person’s assets after their demise in accordance with the provisions of a legally executed Will. The legal framework governing essential requirements and execution of a valid …

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Understanding the LLP Significant Beneficial Owners Rules 2023

Decoding The Telecommunications Act 2023

Decoding The Telecommunications Act 2023: Opportunities, Challenges, And Impact The telecommunications industry has undergone significant changes over the years, with the rapid advancement of technology and the evolving needs of consumers. One of the crucial developments in this sector is the Telecommunication Act, 2023 (the “Telecom Act”), which seeks to address the challenges and opportunities …

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Understanding the LLP Significant Beneficial Owners Rules 2023

Understanding the LLP Significant Beneficial Owners Rules 2023

Safeguarding Investments: Navigating Restriction on the Transfer of Promoters Shares The Ministry of Corporate Affairs on November 9, 2023, has notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 (“SBO Rules”). These SBO Rules now obligate LLP’s to ascertain whether an individual qualifies as an SBO. Up until now, only companies were subjected to …

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Safeguarding Investments: Navigating Restriction on the Transfer of Promoters Shares

Navigating Restriction on the Transfer of Promoters Shares

Safeguarding Investments: Navigating Restriction on the Transfer of Promoters Shares In the dynamic landscape of investments and corporate governance, the ownership of shares by a company’s promoters holds significant sway over business trajectories. Investors keen on ensuring stability and long-term growth must carefully navigate the intricacies of promoter stability and share transferability concerns. Unrestricted transferability …

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Nominees or Legal Heir, Who Has The Legal Right Over Shares?

Nominees or Legal Heir, Who Has The Legal Right Over Shares?

In a significant ruling on December 14, 2023, in the case of Shakti Yezdani v. Jayanand Jayant Salgaonkar (Civil Appeal No. 7107 of 2017), the Hon’ble Supreme Court (“Supreme Court”) has cleared the air on a critical subject. The ruling pertains to whether the rights of a nominee under the Companies Act, 1956 (Section 109A …

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Amendment to the Legal Framework on Social Stock Exchange

Amendment to the Legal Framework on Social Stock Exchange

Recently, Securities and Exchange Board of India (“SEBI”), in exercise of its powers under Section 11(1) of the Securities and Exchange Board of India Act, 1992, amended the framework for the Social Stock Exchange (“SSE”), via its circular dated: December 28, 2023 (“Circular”), thereby amending the provisions under the Securities and Exchange Board of India …

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Investigations in Public Interests and Into Ownership Under Companies Act: An Overview

Investigations in Public Interests and Ownership Under Companies Act

Background Recently, the Ministry of Corporate Affairs (“MCA”) launched an investigation into the affairs of Hero MotoCorp Limited under Section 210(1)(c) read with Section 216 of the Companies Act, 2013 (“2013 Act”). This development makes it germane to understand what these powers entail and the consequences thereof. Necessary In Public Interest Section 210(1)(c) of the …

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Governing The Startups: Towards A More Sustainable Growth

Governing The Startups: Towards A More Sustainable Growth

The Current Picture India has the third largest startup-ecosystem in the world with more than 100 unicorns till 2023. The funding environment for early stage Startups, especially seed and Series A investment continues to be vibrant in India, despite there being a decline in funding for growth-stage and late-stage Startups primarily due to the global …

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Preventing Fraud in the Indian Startup Ecosystem

Preventing Fraud in the Indian Startup Ecosystem

How The Indian Startup Ecosystem Can Take Proactive Steps To Prevent Syphoning & Fraud? In recent years the Indian startup ecosystem has seen tremendous growth. Several companies have emerged as unicorns and industry leaders, backed by both Indian and international venture capital and private equity firms.  However, the ‘Blitzsclaling’ (termed by LinkedIn cofounder Reid Hofman) …

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Direct International Listing Enabled for Indian Firms via GIFT City

Direct International Listing Enabled for Indian Firms via GIFT City

Indian Companies Permitted Direct Listing on International Exchanges Gift The Ministry of Finance (“MOF”), in exercise of its powers under Sections 46 (2) (aa) and 46 (2) (ab) of the Foreign Exchange Management Act, 1999 (“FEMA Act”) has amended the provisions of the  Foreign Exchange Management (Non-debt Instruments) Rules, 2019   (“FEMA   Rules”),   …

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