Non-Disparagement Clauses in Employment Contracts

A non-disparagement clause contained in a contract is aimed at preventing a party to the contract from disparaging the other party. The word “disparage” is a broad term and generally includes, within its ambit, any statement whether oral or written that casts any criticism on individuals or their respective businesses…

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Inside India’s Landmark Digital Personal Data Protection Act, 2023

The Digital Personal Data Protection Act (Act) received the assent of the President of India on 11 August 2023 and was subsequently published in the official gazette. The introduction of the Act is a significant milestone in India’s rapid digital transformation process.The Act is expected to be brought in force in phases

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Overseas Listing of Indian Companies

In recent years, Indian companies have shown a growing interest in exploring overseas listing as a means to access international capital markets and expand their global footprint. Overseas listing involves the process of listing shares of an Indian company on a foreign stock exchange. This strategy offers numerous benefits, including access to a larger capital

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External Commercial Borrowings – Changing trends and its impact

External Commercial Borrowings – Changing trends and its impact OCTOBER 19, 2023 Introduction The economic development of a country is often dependent on a balance between domestic savings and foreign investment. In instances where the difference between domestic savings & internal investment requirements become prominent,

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Sandbagging and Anti-Sandbagging Provisions in M&A Transactions

In the complex landscape of mergers and acquisitions (M&A) transactions, the interplay between a buyer[1] and a seller[2], before a transaction closes, shapes the negotiation of the underlying transaction documents. Sandbagging (or Pro-Sandbagging) occurs when a buyer in an acquisition/ investment knows about a breach of the seller's/ founders’ representations or warranties before the closing of the transaction but proceeds with the same anyway without raising any concerns or objections.  After the transaction is completed, the buyer/ investor might "sandbag"…

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Decoding SARs: Shaping Employee Incentives in India

Employees play a pivotal role in driving an organization's growth.  Recent times have witnessed a surge in startups and a thriving e-commerce sector.  Consequently, this led to an increase in opportunities and an escalation in competition.  Given the fact that the talent pool to support the growth has been largely stagnant, companies have been forced to deal with a significant increase in employee attrition rates.  This, in turn, has led to companies to develop attractive remuneration packages and incentives, especially…

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Development of the Group of Companies Doctrine in Indian Arbitration Law: Insights from Cox and Kings Judgment

Introduction Arbitration, an alternative dispute resolution mechanism wherein parties consensually decide to submit a dispute between them, to an arbitral tribunal to the exclusion of domestic courts[1].   Arbitration provides a neutral, efficient, and expert process for dispute resolution at a single forum whose decision is final and binding on the parties.  The principle of party autonomy underpins the arbitration process as it allows the parties to dispense with technical formalities and agree upon substantive and procedural laws and rules applicable…

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Does ‘Sale of Shares’ constitute ‘Sale of Undertaking’: The Perennial Conundrum

Introduction The subject matter of this article is a question that has often plagued the Indian courts.  Section 180(1)(a) of the Companies Act, 2013 (‘CA 2013’) places restrictions on the board of directors of a company in respect of selling, leasing or disposing of the whole or substantially the whole of the undertaking of the company.  It provides that in respect of such matters, a special resolution of the shareholders is a prerequisite before any action can be undertaken by…

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