November 2008

Status Of Incomplete Negotiable Instruments

          Under Indian law, a negotiable instrument means a transferable instrument. In business transactions, frequently a negotiable instrument is used to make payment of money. A negotiable instrument has several characteristics. But, the most important feature is it does not merely give possession of the instrument, but a right to property. The possessor of the instrument is the holder and owner thereof.  Download

October 2008

Commodity Futures in the Indian Futures Market

          Hedging involves taking one risk to offset another and there are many tools for hedging such as futures, forwards and swaps. Together these devices are termed as derivatives because their value is derived from the value of other assets. In India the Securities and Exchange Board of India ("SEBI") approved the phased introduction of derivatives trading beginning with stock index futures.  Download

September 2008

Enforceability Of Memorandum Of Understanding

          A Memorandum of Understanding ("MOU") is the term given to a formal agreement between two or more parties expressing their determination to move forth in a common direction. Usually at the outset of a project or joint venture, the parties record their intention to work together and the basic terms under which they capture their intent to pool their resources or work together.  Download

August 2008

Issue of jurisdiction in cyberspace and applicable laws

          Jurisdiction refers to the power of a government to exercise authority within a territory or restriction or the legal responsibility of a court to determine disputes. This principle of territoriality has been diminished by the digital technologies in the present era which has led to the evolution of almost another international space.¹  Download

July 2008

Modes of Assignment of Copyright: Contractual Safeguards

          Copyright is a bundle of rights including rights of reproduction, communication to the public, adaptation and translation of the work. The owner of the copyright may assign the whole of these rights or some part of them to a third person for consideration which is termed as assignment.  Download

June 2008

Limitation on directors: Maximum number of concurrent directorships

          A company's directors are given a great deal of power regarding the affairs of the business. However, it is essential to note that this power is not unlimited. The Companies Act, 1956, ("Act") includes several limitations on director power which help to harness the influence and control any particular director may have on the company.  Download

May 2008

Covenanting not to compete - whether enforceable in JV contracts?

          A surge in cross-border business deals and commercial activities has changed the dynamics of the corporate world. Consequently, negotiations, contracts, and the legalities involved therein have gained a lot of significance.  Download

April 2008

Indian Competition law may stifle M&A

          Liberalization and opening up of Indian economy has not only opened new vistas for Indian companies, but has also led to increased competition from within and outside India. The focus of Monopolies & Restrictive Trade Practices Act, 1969 ("MRTP Act") was on the control of monopolies and the prohibition of monopolistic and restrictive trade practices.  Download

March 2008

Prerequisites of an Initial Public Offer

          Initial Public Offer ("IPO") is when a company makes a fresh issue of securities for the first time to the public. The requirements regarding the eligibility of companies to make an IPO are provided under the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 ("DIP guidelines") and the Companies Act, 1956 ("Act"). These requirements have been put in place to protect the interest of the public, who invest in such companies.  Download

February 2008

Winding-up by Tribunals-An Insight

          Winding-up of a company is a mechanism envisaged under the Companies Act, 1956 ("the Act") by which an Indian company is dissolved. The Act provides two modes for winding-up (a) voluntary winding-up, initiated by either the shareholders or creditors of a company; and (b) winding-up by an order passed by a tribunal. Once a company is wound up all its assets are utilized in settling the outstanding debts.  Download

January 2008

Growth & Opportunities in Indian Wine Market

          Indian wine market is on the threshold of its first major milestone i.e., crossing the one million cases mark in 2008. The buoyant Indian economy has already attracted global wine makers like E&J Gallo, Veuve Cliquot, Moet Hennessy, Diageo, Seagram (renamed Pernod Ricard India), etc to set shops in India.  Download