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 […]
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
Understanding the LLP Significant Beneficial Owner Rules 2023 The Ministry of Corporate Affairs on November 9, 2023, has notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 (“SBO Rules”). The SBO Rules now obligate LLPs to ascertain whether an individual qualifies as an Significant Beneficial Owner (“SBO”). Up until now, only companies were subjected
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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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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
Nominees or Legal Heir, Who Has The Legal Right Over Shares? Read More »
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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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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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
Governing The Startups: Towards A More Sustainable Growth Read More »
How The Indian Startup Ecosystem Can Take Proactive Steps To Prevent Siphoning of fund & 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
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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”),
Direct International Listing Enabled for Indian Firms via GIFT City Read More »
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