FORCE MAJEURE IN THE TIME OF COVID-19
While the world is grappling with the outbreak of the novel coronavirus (Covid-19), the lockdowns and restrictions that have been imposed to contain this pandemic, have brought businesses to a grinding halt. In such unprecedented times, when the wheels of global and regional supply chains are clogged, it becomes imperative to have a relook at …
Employing Caution – A Practical Guide for Employers to deal with COVID-19 Situation in Workplace
These are extraordinary times. People are unsure as to when pandemic created by the novel coronavirus (Covid-19) would cease and the normalcy would return. With the vast majority of the labour force having returned to their homes, most factories across the country have either suspended operations or operating significantly below their stated capacity. The economic …
Private Funds Update – Some Issues arising out of SEBI’S Circular dated February 5, 2020 for Alternative Investment Funds
The Securities and Exchange Board of India (“SEBI”) issued circular no. SEBI/HO/IMD/DF6/CIR/P/2020/24 dated February 5, 2020 (“Circular”) that introduces standard templates for alternative investment funds’ (“AIF”) private placement memorandums (“PPM”), annual audits of compliance with the terms of the PPM and mandatory performance benchmarking for AIFs with provisions for additional customised performance reporting. An overview …
New Rules for Takeover of Unlisted Companies and consequent Minority Squeezeout
Section 230 of the Companies Act, 2013 (“Companies Act”) sets out the process for a scheme of arrangement between a company and its creditors and shareholders (“Scheme”). Such Schemes have to be approved by the National Company Law Tribunal (“NCLT”).
The Mineral Laws (Amendments) Ordinance – Key Changes
The mining industry has historically been one of the more heavily regulated industries in India, with a strong legal and regulatory structure governing the same. With a view to leverage this market and to ensure continuity in mining operations, the Mineral Laws (Amendment) Ordinance, 2020 (the “Ordinance”) was promulgated on January 10, 2020.
Private Funds Update – SEBI introduces new requirements for AIFs
On February 5, 2020, the Securities and Exchange Board of India (“SEBI”) issued a circular (“Circular”) introducing significant changes to the existing legal regime concerning alternative investment funds (“AIFs”). AIFs are privately-pooled investment funds which collect funds from investors, whether Indian or foreign, for investing in accordance with a defined investment policy for the benefit …
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SELF-REPORTING A PERSONAL DATA BREACH – AN OBLIGATION UNDER THE PERSONAL DATA PROTECTION BILL 2019
Imagine for a moment that traffic rules required every motorist and pedestrian to self-report any violation of traffic rules. If you violate any traffic rule, you have to inform the traffic police by filing an online report within 12 (twelve) hours of the violation. After you report, you will receive a suitable punishment, which could …
Blockchain Technology – A Review
A blockchain, as its name suggests, is a virtual chain made of blocks, where each block contains information.