Competition Amendment Bill, 2022: Key Changes to the Competition Act, 2002
On August 5, 2022, the Competition (Amendment) Bill, 2022 (the “Bill”), to amend the Competition Act, 2002 (the “Competition Act”), was introduced in the Indian Parliament. The timing of approval of the Bill, and its coming into effect, is uncertain at present.
Changes to Quarterly Shareholding Disclosures by Listed Entities in India
On June 30, 2022, the Securities and Exchange Board of India (“SEBI”) issued a circular amending the quarterly shareholding pattern disclosed by listed entities in India (the “2022 Circular”). This amended an earlier SEBI circular dated November 30, 2015 (the “2015 Circular”). The 2022 Circular comes into force with effect from the quarter ending September …
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Indian Legal Regime for ESG
The need for addressing Environmental, Social and Governance (“ESG”) related aspects, has never had more prominence than now. There is growing recognition of the financial and economic impacts of ESG risks across the globe. ESG is also attaining significance as the investors are increasingly relying on ESG as an important metric to guide their investment …
Shareholder Activism in India: The Zee-Invesco Decision
India has witnessed a significant increase in institutional shareholder activism over the past few years. As a consequence of the rapid rise in shareholder activism, there has been much greater focus on the rights of minority shareholders in relation to a company. In this context, the judgment of the division bench (“Division Bench”) of the …
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Testing the Frontiers of the Insider Trading Regulations
By an order issued on January 14, 2022, the United States District Court, Northern District of California allowed the Securities Exchange Commission (“SEC”) to proceed on the misappropriation theory of insider trading in its “shadow trading” complaint against Matthew Panuwat.[1] The SEC had alleged that Panuwat used confidential information about the acquisition of his employer, …
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