RBI Notifies Directions for Regulation of Payment Aggregators – Cross-Border

By Burgeon Law / Compliance, Data Privacy / February 6, 2024 March 7, 2024

Delineating The Difference Between A Payment Aggregator – Cross Border And An Online Payment Gateway Service Provider On October 31, 2023, the Reserve Bank of India (RBI) through its circular named Regulation of Payment Aggregator – Cross Border; (the Regulations), has brought all entities involved in facilitating cross-border payments for the import and export of …

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Treatment of Convertable Notes as Financial Debt Under IBC

By Burgeon Law / Funds, Investments / February 6, 2024 February 9, 2024

Possible Treatment Of Convertible Notes As Financial Debt Under IBC Similar to Compulsorily Convertible Debentures (“CCDs”), Convertible Notes (“CNs”) are hybrid instruments that combine elements of debt and equity. However, unlike CCDs, CNs are defined under the Companies Act, 2013. Rule 2 of the Companies (Acceptance of Deposits) Rules, 2014 (Deposit Rules), defines CNs as …

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Online Rummy and Poker Regarded as Games of Skill: Madras High Court Ruling

By Burgeon Law / Gaming and Sports / February 6, 2024 March 7, 2024

Case Analysis: All India Gaming Federation and Ors. vs State of Tamil Nadu Recently, the Madras High Court (“Court”) on November 9, 2023, in the case of All India Gaming Federation vs. the State of Tamil Nadu, while upholding the validity of the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act, …

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New Mandatory Dematerialization Norms for Private Companies

By Burgeon Law / Corporate Secretarial / February 6, 2024 February 9, 2024

In a significant move aimed at enhancing corporate governance practice among Indian companies, the Ministry of Corporate Affairs on October 27, 2023 notified an amendment to the Companies (Prospectus and Allotment of Securities) Rules, 2014, and has subjected private companies to norms of mandatory dematerialization of shares. Following are the key aspects of the amendment: …

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Denial of gender neutral Sexual Harassment Policy: Supreme court

By Burgeon Law / Labour and Employment / February 6, 2024 March 7, 2024

Binu Tamta & Anr. Vs. High Court Of Delhi & Ors. The Supreme Court of India through an order passed in the case of ‘Binu Tamta & Anr. Vs. High Court of Delhi & Ors, W.P.(C) No. 162/201’, rejected the petition to make the sexual harassment policy gender-agnostic. The plea sought to supplant references to …

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Scrutinising CCDs through the lens of IBC: Has the Supreme Court ended the debate?

By Burgeon Law / Insolvency and Bankruptcy / February 6, 2024 March 7, 2024

Introduction Recently, in a landmark judgment, the Supreme Court of India (the “SC”), via its order dated: November 09, 2023 in the case of IFCI Limited vs Sutanu Sinha and Ors, while upholding the order of National Company Law Appellate Tribunal (“NCLAT”) held that Compulsorily Convertible Debentures (“CCDs”) should be treated as equity under Insolvency and Bankruptcy …

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Sebi To Regulate Fractional Ownership Platforms

By Burgeon Law / Corporate Secretarial / February 6, 2024 March 7, 2024

Investment in real estate is often capital intensive which requires considerable market knowledge. Not every investor has the appetite or knowledge for such an investment. Furthermore, the past decade has shown considerable growth and returns in the commercial real estate market with people investing in real estate other than owning their home. This trend has …

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Unraveling The ‘flipping’ Phenomenon Among Indian Startups

By Burgeon Law / Corporate and Commercial, Investments, Start-Ups / February 6, 2024 March 7, 2024

Introduction In the evolving landscape of Indian entrepreneurship, the phenomenon of Indian startups ‘flipping’ into foreign jurisdictions has emerged as a strategic maneuver, capturing the attention of founders, investors and industry observers. This trend, marked by the relocation of startup headquarters to international destinations such as US and Singapore, brings forth a myriad of implications …

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Share Transfer Valid Despite Non-Payment: Delhi High Court

By Burgeon Law / Funds, Investments / February 6, 2024 March 7, 2024

Title to shares cannot be challenged on account of non- payment of consideration where share transfer form is validly executed and the transferee’s name is recorded in the register of members: Delhi High Court Introduction In a judgement passed by the Delhi High Court on December 15, 2023, in the case of Shashwant Nakrani vs. …

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Data Privacy And Protection

By Burgeon Law / Data Privacy / July 8, 2023 July 4, 2024

At Burgeon Law we believe in taking a hands-on approach to dealing with ‘Data’, ‘Data Privacy’, ‘Data Protection’, ‘Personally Identifiable Information’ and ”Sensitive Personal Information’ which are the standard terms that one hear while dealing with information technology (IT) and IT security these days. With the Information and Technology Act, 2000 coming into force and …

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