A quarter of a century ago, India made a new and renewed
"Tryst with destiny" when she embarked on the path of
economic liberalization, a path that the country has vigorously
maintained amid the so called "chaotic" democratic setup
and for the most part a gloomy global environment. The tectonic
shift in the economic landscape and the subsequent pace of cross
border investment activity brought teething legal problems. In the
last few years however, we have witnessed that the teething legal
problems of the last twenty five years are now giving way to more
sophisticated and nuanced legal challenges in the M&A space in
light of the spate of legal and macro-economic changes.
In recent times, there has been a spate of new legislations such
as the companies' law, insider trading law, listing regulations
and changes to the foreign investment policy, takeover code,
delisting regulations, ownership rules for insurance and banking
companies. Before that, in 2011 the country had
