Sarthak Advocates & Solicitors

Investment

Major clauses of a shareholders' agreement decoded

Unlike regular agreements such as services agreements, lease agreements, employment contracts etc. which the parties normally enter into in their usual course of business, Share Subscription Agreement (SSA), Share Purchase Agreement (SPA) and Shareholder’s Agreement (SHA) are one such category of agreements which are not executed on regular intervals and can be said to be highly technical as these agreements tend to regulate the legal relationship between multiple stakeholders like new investor or investors, existing investor or investors, other shareholders, founder or founders of the investee company and the investee company.

09 May 2023

Restructuring & Insolvency

An unfair code for personal guarantors

Introduction The Insolvency and Bankruptcy Code (“IBC”) was enacted in 2016 to provide a stimulus to the insolvency and bankruptcy process in India, which had not been performing as per the desired pace due to the lack of effective mechanism in the previous legislations. The IBC is a comprehensive legislation enacted with an aim to consolidate the laws relating to insolvency, liquidation and bankruptcy process of companies, partnership firms and individuals and to ensure the resolution in a time bound manner for maximisation of value of assets and balance the interests of all stakeholders.

30 January 2023

Investment

Revamp of overseas investment regulatory framework

The Reserve Bank of India (“RBI”) in consultation with the Government of India (“GoI”), has recently revamped the regulatory framework governing the overseas direct investment (“ODI”) made by residents in India. The GoI has brought in Foreign Exchange Management (Overseas Investment) Rules, 2022 and the RBI has issued Foreign Exchange Management (Overseas Investment) Directions, 2022, and Foreign Exchange Management (Overseas Investment) Regulations, 2022 (collectively referred to as “New ODI Framework”) which will subsume the existing regulations namely, Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property Outside India) Regulations, 2015 (collectively referred to as “Former ODI Norms”). The New ODI Framework will come into effect on August 22, 2022.

03 October 2022

Press Releases

Sarthak advocates & solicitors accelerates growth with a new office in mumbai along with a partner induction

Sarthak Advocates & Solicitors has entered the financial capital of the country by opening its office in Mumbai with the joining of Apoorva Chandra as a Partner. An alumnus of NLUJ, Apoorva mainly focuses on General Corporate & Commercial advisory, Private Equity, Acquisitions, Joint Ventures, Due Diligences, Commercial Contracts and Real Estate. Apoorva regularly advises his clients on a plethora of complex legal issues, ranging from company laws and other allied laws, real estate laws and foreign exchange laws, amongst others.

02 September 2022

Projects, energy & natural resources

Electricity regulator continues to reign supreme for now

Authored by Abhishek Nath Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors

07 December 2021

Projects, energy & natural resources

Captive generation: aptel breaks a few chains

Authored by Abhishek Nath Tripathi and Anura Gupta, Sarthak Advocates & Solicitors

07 December 2021

Projects, energy & natural resources

Nclt proper forum for power purchase agreement insolvency

Authored by Abhishek Nath Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors

07 December 2021

Restructuring & Insolvency

Ibc brief – august, 2021

The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 which replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 has been passed by both Houses of Parliament. The bill further amends the Insolvency and Bankruptcy Code, 2016, by inter alia, introducing Prepacked Insolvency Resolution Process (PPIRP) for micro, small and medium enterprises (MSMEs). The proposed amendment enables the government to notify the threshold of default not exceeding Rs 1 crore for initiation of PPIRP. Some authors argue that this scope should be widened.

08 September 2021

Projects, energy & natural resources