Employees’ Rights Upon Winding-up of Company
Introduction Article 5(1)[1] of the Federal Constitution on Liberty of the Person provides as follows: ‘(1) No person shall be deprived of his life or personal liberty save in accordance with law.’
Regulation on Processing and Privacy of Personal Data in Electronic Communications Sector
The Regulation on Processing and Privacy of Personal Data in Electronic Communications Sector (“Regulation”) has been published on the Official Gazette of December 4, 2020.
Limitations on Voting Rights of Shareholders
In principle, shareholders of limited liability companies (“LLC“) have the right to vote on the issues being discussed during the general assembly meetings and such right is indispensable. On the other hand, Turkish Commercial Code No.6102 (“TCC“) sets forth certain limitations on voting rights of the shareholders to prevent any impartiality, especially in cases where …
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Beyond any Doubt: Administrative Court Decisions Setting the Bar for the “Standard of Proof”
Beyond any Doubt: Administrative Court Decisions Setting the Bar for the “Standard of Proof” for Abuse of Dominance In 2019 and 2020, Turkish administrative courts handed down noteworthy judgments concerning two particular decisions of the Turkish Competition Board (“Board“). In both of these cases, namely the (i) Sahibinden Bilgi Teknolojileri Pazarlama ve Tic. A.Ş. (“Sahibinden“) …
Recent FCPA Cases Involving Turkey
The U.S. Foreign Corrupt Practices Act (“FCPA“) criminalizes the bribery of foreign officials anywhere in the world for the purposes of preventing corruptly influencing of an official governmental decision in order to obtain a business benefit.
HOW TO KEEP YOUR DATA SAFE IN THE NEW DIGITAL EMPLOYMENT ENVIRONMENT
Introduction Using the digital environment for work related activities entails risks that are enhanced by the continuous digitisation of the society. Such risks include an increase in the number of cyberattacks that can lead to security breaches, including personal data breaches.
CCI approves acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings
By: Bharat Sharma, Partner & Ankit Shah, Senior Associate Competition Commission of India (CCI) on June 24, 2020 approved Jaadhu Holdings LLC (Jaadhu) acquisition of 9.99% stake in Jio Platforms Ltd (Jio Platforms) (Transaction), digital arm of Reliance Industries Ltd (RIL). CCI’s approval came about two months after the two companies signed the deal on …
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CCI proposes to amend Combination Regulations
By: Bharat Sharma, Partner The Competition Commission of India (CCI) issued a press release[1] proposing to omit Para 5.7 from Form I, which provides for giving information regarding non-compete restrictions (Restrictions) under the Combination Regulations[2]. If the proposal is effectuated, it may assist CCI in adhering to the timelines for deciding applications seeking its approval …
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Changes in CSR framework
By: Ramya Hariharan, Partner Section 135 of Companies Act, 2013 (Act) requires companies to constitute a Corporate Social Responsibility Committee (CSR Committee) which is responsible for formulating a CSR policy for the company. This is mandatory for companies having net worth of INR 500 crore or more; turnover of INR 1000 crore or more or …
Direct overseas listing by Indian companies
By: Sunando Mukherjee, Partner On May 17, 2020, Ministry of Finance, Government of India (MoF) announced that Indian companies would now be allowed to list their shares directly in foreign stock exchanges. While consequent amendments and clarifications in legal and regulatory regime are awaited, the move would now allow Indian companies access to multiple jurisdictions …
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