In this post, the author highlights how Chanda Kochhar’s charge of “Criminal Breach of Trust” provides the courts an opportunity to develop an individualised jurisprudence for section 409 of the Indian Penal Code. The existent jurisprudence surrounding section 409 conceptualises it as a mere footnote to the more general provision of section 405. Although the courts have previously acknowledged the distinct nature of section 409, the same acknowledgement and understanding is not reflected in their interpretative exercise. The author, thus, argues that the courts must culminate the tradition put into motion by the courts in these previous cases by harmonising the general provision of section 405 with section 409’s unique characteristics.
Continue reading Chanda Kochhar’s liability under IPC Section 409
In this article, the author analyses competition law concerns raised by the aforementioned merger. It will be argued that the merger will allow HDFC Bank to use its dominant position in one market to venture into or protect another relevant market, in contravention of S. 4(2)(e) of the Competition Act, 2002 (hereinafter, ‘the Act’). Continue reading HDFC BANK AND HDFC LTD MERGER: A COMPETITION LAW SCRUTINY
In this post the author discusses the Pre-Packaged Insolvency Resolution Process (PRIRP) introduced recently by the government for MSMEs with a minimum default of Rs. 10 lakh and a maximum of Rs. 1 Crore. The author presents an analysis of the various statutes and legal provisions that come into play and suggests changes to facilitate the process for smoother insolvency resolution. Continue reading PRIRP for MSME Sector: Revisiting the scope of resolution applicants Under Section 29A
By: Aman Kumar Yadav Introduction Cryptocurrencies are digital representations of value that can be stored and transferred digitally. Simply put, it is a type of digital currency or a medium of exchange just like the US dollar. They function autonomously, unencumbered by traditional banking and government oversight. Countries have repeatedly attempted to implement measures to regulate Cryptocurrency or ban it altogether. This article analyzes India’s … Continue reading Cryptocurrency in India: To ban or not to ban
By: Kanishka Dasmohapatra INTRODUCTION On 23rd February, the Apex Court declared the activities of Multi-National Accounting Firms (hereinafter ‘MAFs’) in India, as ‘illegal and unethical’. The 75-page landmark judgement culminated in directions that the Centre constitute a three-member expert committee, to analyse whether activities of MAFs are in conformity with The Chartered Accountants Act, 1949 (hereinafter ‘CA Act’) and Code of Professional Conduct under the … Continue reading S. Sukumar v. Institute of Chartered Accountants of India & Ors. with Centre for Public Interest Litigation v. Union of India & Ors.
By: Avilash Kumbhar Early start-up companies do not have easy access to venture capital and other public fundraising options, primarily due to the uncertain nature of the business as well as the risk involved in it, which became increasingly difficult after the 2008 financial crisis. In order to support inventive business ideas and ventures, crowdfunding has rapidly become a feasible and attractive substitute for fundraising … Continue reading Equity Crowdfunding
By: Vikrant Yadav ‘Bitcoin’ is one of the earliest cryptocurrencies which has gained widespread prominence in the digital currency market today. It is a “peer-to-peer, electronic cash system” which is based on an open source cryptographic protocol and is independent of any central authority. A transfer of bitcoins is a transfer of value between the involved bitcoin addresses, and every transfer gets recorded in the Blockchain, a … Continue reading ‘Bitcoins’: Legal Conundrums Surrounding the Cryptocurrency