PROCUREMENT ROUTES FOR CONTRACT
Construction contracts, in infrastructure projects mainly refer to airports, structures, bridges, roads, dams, ports, and other civil engineering activities. Historical data suggests that in most government awarded contracts, particularly of high value, the bidders tend to underbid so as to achieve the status of “L-1” with an ultimate aim of subsequently claiming additional costs from …
LEGAL CHALLENGES FACED BY E-SPORTS
INTRODUCTION The onset of the lockdown brought a halt to the world. However, the only industry which was not just unaffected by the lockdown but has also witnessed remarkable progress was eSports Industry. The advent of the digital era and the rapid increase in advancements in technology coupled with the proscription of popular virtual games …
UNCITRAL Expedited Arbitration Rules
Introduction At its fifty-first session in 2018, the United Nations Commission on International Trade Law (“UNCITRAL”) agreed that Working Group II should be mandated to take up issues relating to expedited arbitration.[1] As seen in many arbitral institutions, expedited arbitration rules set out simplified procedures which are aimed at reducing the time of proceedings as …
The Start of the Legal Period for Electronic Notifications in the Light of Judicial Decisions
Electronic notification to certain persons, including attorneys registered with the Bar Association, has become obligatory in accordance with the Article 7/a of the Notification Law numbered 7201 (“NL”). The procedures and principles regarding electronic notification are outlined in the Electronic Notification Regulation (“Regulation”) in the Official Gazette dated 6 December 2018 and numbered 30617.
Tax Consequences of Failure to Fulfill Capital Commitment Payable
Trading companies are established with the capital that the founding shareholders have committed to put into the company; this capital is essential for the establishment of trading companies. It is the most important financial duty of the shareholders to provide the capital they have committed to bring to the company in full and on time. …
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Null and Void Resolutions of the General Assembly in Joint Stock Companies
Introduction In general, cases of invalidity of general assembly resolutions fall into the categories of non-existence, nullity and annullability. The scope of this Newsletter is limited to null and void resolutions of general assemblies established under Article 447 and related provisions of Turkish Commercial Code No. 6102[1] (“TCC”).
General Assembly Summons Lawsuits
Introduction Pursuant to Turkish commercial law legislation, the ordinary general assembly in joint stock companies shall be held within three months following the end of each fiscal year.[1] According to Turkish Commercial Code numbered 6102 (“TCC”), the authority (Article 410 of the TCC) and duty (Article 375 of the TCC) to convene the general assembly …
Tilleke & Gibbins Bolsters its Regional Corporate/M&A Capabilities with the Hire of Derrick Khoo
Tilleke & Gibbins is pleased to announce that it has further strengthened its capabilities with the hire of Derrick Khoo as a partner in the regional Corporate/M&A team, where his cross-border transactional experience in handling complex legal matters amidst challenging legal and regulatory environments will facilitate the firm’s clients to achieve their business objectives in …
WILL THE CHANGES PROPOSED TO INDIA’S TELECOM SECTOR HAVE THE DESIRED EFFECT?
By: Akil Hirani, Managing Partner, Majmudar & Partners, India
New guideline for overseas investment
The government is set to approve the proposed ‘Overseas Investment Guideline 2021’ to allow outbound investment opportunities to local exporters, and any company running their business in the domestic market for 10 years.