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Articles & Updates

The Only Door to Knock On: Supreme Court Endorses NCLT’s Jurisdiction on Fraud and Oppression

Preface For years, the precise authority of the National Company Law Tribunal (‘NCLT’), a specialized forum established under the Companies Act, 2013 (‘2013 Act’), has been a subject of debate.  Since it is not a traditional civil court, its power to adjudicate disputes that intersect with broader civil or contractual issues, such as fraud and oppression, remained ambiguous.  The recent Supreme Court of India judgment in Mrs. Shailja Krishna v. Satori Global Limited (‘Mrs Krishna Case’)[1] marks a significant development…
4 days ago

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Blocking the Unblockable: Practical Difficulties in Enforcement of the Promotion and Regulation of Online Gaming Act, 2025

Introduction The online gaming industry in India has witnessed explosive growth in the last decade. The sector contributes more than INR 20,000 crore annually in direct and indirect taxes and is projected to grow at a Compound Annual Growth Rate (CAGR) of nearly 20%, potentially doubling by 2028.[1] This growth, however, has been accompanied by mounting concern ranging from social, economic, psychological, consumer protection, and privacy related matters.  Accordingly, the Indian legislature has sought to introduce a uniform national framework…
September 15, 2025

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Locking In Talent or Restraining Trade? The Evolving Law on Employment Bonds in India

An employment bond is a contractual arrangement requiring an employee to remain in service for a stipulated period, with a pre-determined sum payable if the employee exits prematurely. The idea is simple – the company wants to make sure it doesn’t lose out after spending time and money on hiring, training, or relocating someone. For employers, such bonds act as a safety net: they protect the investment made in bringing a person on board, cover the costs of specialised training,…
August 22, 2025

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Growing Trend Of Reverse Flipping – An Overview of Legal Implications

Introduction In recent years, many Indian companies have taken the opportunity to bring their foreign operations back home to India.  This process of moving back to India has been termed as ‘reverse-flipping’ or ‘internalization’.  This move has become much more viable because of the new reforms and schemes setup by the Government of India, better access to capital in the country and simplified regulatory environment.  Companies have been noticing growing consumer base in India and an increase in investor interest…
June 26, 2025

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The Nominee Dilemma: Holding In Trust v/s Holding As Owner

Introduction What happens to a person’s shares in a company after they pass away? In earlier times, if a shareholder’s family wanted to claim those shares, they had to navigate a maze of time-consuming and expensive documentation - all to prove their relation to the deceased person as well as their right as legal heirs.  To reduce the burden of this complex procedure on legal heirs as well as the companies, the right of nomination was added to the Companies…
June 3, 2025

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Selective Capital Reduction: Reaffirming Corporate Autonomy and Minority Shareholder Protection

Introduction While capital reduction as part of corporate restructuring is not a novel concept, it has increasingly found center stage in Indian corporate jurisprudence. The recent case of Shirish Vinod Shah (HUF) v. Bharti Telecom Limited[1] (‘BTL Case’) offers a pivotal reference point for understanding the legality and operational contours of capital restructuring by way of selective capital reduction under Section 66 of the Companies Act, 2013 (‘Act’). The BTL Case marks the first comprehensive appellate-level pronouncement on selective capital…
May 1, 2025

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Rights Issue: Decoding The Board’s Power Over Unsubscribed Shares

Introduction A company looking to raise funds (other than by way of borrowing) can do so by following the process prescribed under the Companies Act, 2013 (‘Act’) by way of either (i) preferential allotment; (ii) private placement; or (iii) rights issue.  A rights issue involves offering shares by a company only to its existing equity shareholders on a proportionate basis.  A rights issue is generally a quicker and more convenient way for a company to raise funds because: …
March 31, 2025

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Embracing AI In Law: Threat Or A Game Changer?

Introduction Artificial intelligence (‘AI’), a versatile technology that dates back to the early 1950s, has experienced waves of excitement and innovation, often followed by phases of stagnation.[1]  However, in the recent times the AI boom has significantly revolutionised various aspects of our day-to day lives.  As of today, AI is no longer just a buzzword – it is rapidly transforming industries worldwide, and the legal sector is no exception.  As technology continues to evolve, AI is bound to enter all…
March 12, 2025

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Family Disputes, Corporate Governance and SEBI’s Mandate: A Case Study of the Kirloskar Dispute

Introduction Family-run businesses and conglomerates have long been a feature and cornerstone of India’s economy with names like Tata, Godrej, Reliance and Birla. However, with the growth of these companies over the generations across multiple family lines, comes the succession conflicts.  Such conflicts are understandable since family members of different generations may develop differing views in respect of charting the growth path of the business. These complexities can lead to disputes that involve legal, operational and regulatory issues. One such…
February 13, 2025

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Integrating ESG Due Diligence In M&A Transactions: The Key to Success 

Introduction In recent years, companies have started to place more weight on Environmental, Social, and Governance (‘ESG’) considerations rather than solely concentrating on the financial performance and achievements.  ESG considerations promote sustainability and ethical business practices among companies by assessing company’s environmental, social and governance aspects.   As the information spreads instantly in the current digital era, reputational risks have increased.  A single misstep or failure to meet ethical considerations can result in significant public backlash, consumer distrust, and an irreversible…
January 14, 2025

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