Factum Legal takes pride in advising clients across various sectors, on their most complex and critical Restructuring transactions. Our M&A team possesses an in-depth knowledge and expertise in all areas of M&A and Restructuring, which combined with an astute understanding of the business and commercial requirements, enables us to provide the best possible solution for… Continue reading M&A and Corporate Restructuring
INTRODUCTION: With the aim of enhancing “ease of doing business” and “promoting the principle of Maximum Governance and Minimum Government”, the Government of India abolished the Foreign Investment Promotion Board (“FIPB“) on May 24, 2017. In its place, the relevant administrative ministry/department in consultation with the Department for Promotion of Industry and Internal Trade (“DPIIT“)… Continue reading DPIIT ISSUED NEW SOPS FOR CLEARANCE OF FDI PROPOSAL
The Reserve Bank of India (‘RBI’) vide its circular dated August 13, 2020 has revised the regulatory framework applicable to core investment companies (‘CICs’) in order to ensure stability of the financial system and address systemic risks posed by CICs and their group companies. CICs are non-banking financial company holding not less than 90% of their… Continue reading Revised Framework for Core Investment Companies
Introduction The Finance Act, 2015 amended Section 6 (Capital Account Transaction), Section 46 (Power of Central Government to make rules) and section 47 (Power of RBI to make regulations) of the Foreign Exchange Management Act, 1999 (FEMA, 1999). These amendments have the effect of altering the powers of the Central Government and Reserve Bank of… Continue reading Analysis on Foreign Portfolio Investor under NDI Rules, 2019
Case Name BABU LAL VARDHARJI GURJAR VS VEER GURJAR ALUMINIUM INDUSTRIES PVT. LTD & ANR. Case Citation – 6347 of 2019 Corporate Debtor Veer Gurjar Aluminium Industries Pvt Ltd Appellant Babu Lal Vardharji Gurjar Respondent Veer Gurjar Aluminium Industries Pvt. Ltd & Anr. Respondent No. 2 JM Financial Assets Reconstruction Company Pvt. Ltd.… Continue reading ANALYSIS OF SUPREME COURT JUDGEMENT IN THE MATTER OF BABU LAL VARDHARJI GURJAR VS VEER GURJAR ALUMINIUM INDUSTRIES PVT. LTD & ANR.
Buyback of shares is the repurchase of its outstanding shares by a company. Companies generally buyback shares in order to reorganise its capital structure, return cash to shareholders and enhance overall shareholders’ value. Buyback leads to reduction in outstanding number of equity shares, which may lead to improvement in earnings per equity share and enhance… Continue reading BUY BACK OF SHARES BY UNLISTED COMPANIES
Preferential issue is one of the fastest ways of raising capital by the company. As per Regulation 2(1)(nn) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, (hereinafter referred as ‘ICDR Regulations’) Preferential Issue means an issue of specified securities by a listed issuer to any select person or group of persons on a… Continue reading PREFERENTIAL ISSUE
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
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