National Company Law Tribunal refusal to admit CMRS Projects into insolvency
Introduction The world economy has been confronted by unprecedented challenges due to Covid-19. RBI and Central Government of India have announced a slew of measures to minimise the impact of Covid-19 on financial markets so as to provide liquidity to borrowers. These measures include moratorium on loan repayments and suspension of insolvency proceedings under the …
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Ease of Foreign Portfolio Investor Flow of Capital into India through Mauritius
Recent changes in investment laws have been made by the Securities and Exchange Board of India (“SEBI”), which regulates capital markets, in order to incentivise foreign portfolio investors (“FPIs”) to increase their investments in India. SEBI has enabled the Government to determine additional countries, other than Financial Action Task Force (“FATF”) member countries, where FPIs …
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Stricter Foreign Direct Investment from Neighbouring Countries – Future Challenges
Introduction The Government of India has a comprehensive policy framework on foreign direct investment (“FDI”) in the circular on consolidated FDI policy issued by the Department of Industrial Policy and Promotion (“DIPP”), Ministry of Commerce & Industry, Government of India (“FDI Policy”) which permits offshore investment under the: (i) automatic route (i.e. without government approval) …
COVID-19: Rescheduling or Restructuring of Financing/Loan Facilities with Banking & Financial Institutions
Introduction The current global economic continues to reel from uncertainties over the worsening coronavirus (COVID-19) outbreak. Amidst severity of COVID-19 pandemic in Malaysia, many banking and financial institutions in Malaysia have expanded assistance for their customers to help them ride out the adverse economic effect. The assistance is necessary as many businesses are severely affected …
Tesco’s USD10b Sale as Asia’s Biggest 2020 Deal: A Competition Law Perspective
Tesco PLC (“Tesco“) recently announced that it has agreed to sell its businesses in Thailand and Malaysia to Charoen Pokphand (CP) Group entities for a value of USD10.6 billion (“Tesco deal“). However, the Tesco deal in Thailand can only be completed once it has obtained prior clearance from the Trade Competition Commission (“Commission“), Thailand’s competition …
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COVID-19 Pandemic: Insurance Implications
Introduction The COVID-19 Pandemic (“the Pandemic“) still rages unabated in April 2020, affecting lives, businesses, individuals and industries worldwide.
COVID-19: Legal Update for Borrowers/Customers and Banking and Financial Institutions in Malaysia
Introduction In the first quarter of 2020, we have witnessed an unprecedented catastrophe that strikes the global economy. The whole nation is now suffering from COVID-19 pandemic which has taken lives of thousands across the world. This great trepidation that is afflicting all of humankind has simply caused an economic downturn for businesses specifically on …
EU is deluged with statutory fines: Corporates in India behold your raingears!
Sucharita Basu, Partner, AQUILAW Ankit Chhaparia, Associate, AQUILAW Data protection and privacy issues have a major impact on all business and industry sectors, across the globe. Privacy laws are continuously evolving, vary by jurisdiction, and are interpreted unpredictably. Even a well-meaning company can make a false step as it captures, accesses, uses, transfers, and/or …
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The Interpretation of ‘Extraordinary Circumstance’ in Air Passenger Rights in Recent CJEU Case-Law
Flight cancellations and delays are not a novel concept. Luckily, the EU Regulation 261/2004 provides rules and conditions whereby passengers can seek compensation and assistance in cases of cancellation or long delays. The regulation is arguably ambitious, in that it grants the ordinary passenger a set of rights which in turn, imposes legal obligations on …
Arrest of Vessels for unpaid Bunker Supplies in the Gujarat High Court – A Change in the Law
Introduction The recent judgment of Dan Bunkering Pte. Ltd v. Best Excellence Corporation Ltd (Civil Application No.1 of 2019 in Admiralty Suit no.8 of 2019) 21 August 2020 has upturned admiralty law in Gujarat. Those familiar with vessel arrests in India may know that the Gujarat High Court had for over two decades permitted bunker …