Author: factumlegal

The term ‘Competing Offer’ refers to an offer given by any other person (Competing Acquirer) after an offer has already been given by an Acquirer to the shareholders of the Target Company to acquire the shares held by them.  The Takeover Regulations permits all persons other than the original acquirer to make a competing offer and… Continue reading COMPETING OFFERS UNDER SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011 (HEREINAFTER REFERRED AS ‘TAKEOVER REGULATIONS’)

A Bonus Issue by a company refers to the further issue of shares to its’ existing shareholders, without consideration,  in proportion to the voting rights or pro-rata of their holding of shares in the company. Source for Issue of Bonus Shares: As per Section- 63(1) a company may issue fully paid up bonus shares to… Continue reading BONUS ISSUE

Case Name Anuj Jain Interim Resolution Professional For Jaypee Infratech Limited Vs. Axis Bank Limited Etc.  Case Citation – 164(IBC)129/2020) Corporate Debtor Jaypee Infratech Limited Appellant Anuj Jain (Interim Resolution Professional) For Jaypee Infratech Limited Respondent  Axis Bank Limited Etc Date of Judgement 26 Feb,2020 1.    That the impugned transactions had been of transfers for… Continue reading Summary of Supreme Court judgement on Preferential, Undervalued Transaction under Section 43, 44 and 45 of IBC, 2016

Introduction The Ministry of Finance (Department of Economic Affairs) has notified the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 dated 17 October 2019 (Principal Rules) in supersession of erstwhile Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2017 and the Foreign Exchange Management (Acquisition and Transfer of Immovable… Continue reading Analysis of the “Foreign Exchange Management (Non debt Instruments) (Second Amendment) Rules 2020”

NEED FOR TRADING PLAN To reconcile the need to maintain the prohibition on trading in securities when in possession of Unpublished Price Sensitive Information (UPSI) with the need to provide a regime in which compliance-conscious insiders are able to put in place a compliant mechanism to trade in securities where they are insiders, the concept… Continue reading Trading Plan

(Under the Insolvency and Bankruptcy Code, 2016) Insolvency and Bankruptcy Code, 2016, governed the provisions of voluntary liquidation. Section 59 of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) which is relating to Voluntary Liquidation of Corporate person was notified by Ministry of Corporate Affairs on 30th March, 2017 and Insolvency and Bankruptcy Board of India… Continue reading VOLUNTARY LIQUIDATION

In the interest of better regulation of and orderly development of the securities market, SEBI has issued a scheme called “Securities and Exchange Board of India (Informal Guidance) Scheme 2003” under section 11(1) of SEBI Act, 1992, which came into effect from 24th June, 2003. This is a formal scheme with detailed procedure for providing Informal Guidance.… Continue reading SEBI (INFOMAL GUIDANCE) SCHEME 2003

Alternative Dispute Resolution (ADR) mechanism provides scientifically developed techniques to Indian judiciary which helps in reducing the burden on the courts. ADR offers to resolve all type of matters including civil, commercial, industrial and family etc., where people are not being able to start any type of negotiation and reach the settlement. In this article we tried to… Continue reading Seat and Venue of Arbitration-Key Considerations

This Article focuses on the modes of reduction of capital under the head “In Any Manner” as prescribed under section 66 of the Companies Act, 2013 other than those specified under the section. The reduction of share capital means reduction of issued, subscribed and paid up share capital of the company. Previously, reduction of share… Continue reading REDUCTION OF SHARE CAPITAL “IN ANY MANNER”