The order passed by the Tribunals on issue relating to resolution of insolvency continue to grab attention with its far reaching impact on stake holders. An insight into one such issue.
The Law Tree
Edition 52
Pongal and Sankranti celebrations across the country just got done. However we have reasons to continue celebration. Besides bringing live our latest edition of The Law Tree, we are extremely delighted to welcome onto the Advisory Board of our Law firm two eminent legal luminaries - Former Justice of the Madras High Court Shri K.P. Sivasubramaniam and Former Justice of the Madras High Court Shri. M. Jaichandren. Rest assured, we are going to go (further) places!
IBC Cases
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
What's Brewing
Laws on Social Impact Companies
There’s a sudden spurt in the number of Companies across the globe which make profits and do good to society at large. The government is mulling over a creating exclusively laws governing the same.
Circulars & Notifications
Learn about this month’s circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.
Circulars and Notifications
05 December 2019
Terms and Conditions for The Empanelment of Chartered Accountants for The Office of The Official Liquidator
Notifications
December 24, 2019
Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs up to 10,000/- with loading only from bank account
December 26, 2019
Formation of new Union Territory of Jammu and Kashmir and Union Territory of Ladakh Assignment of UTLBC Convenorship
December 27, 2019
Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs
December 30, 2019
Enhancing facilitation of National Electronic Toll Collection (NETC) system
December 30, 2019
Auction of Government of India Dated Securities
December 31, 2019
Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach
December 31, 2019
Cyber Security controls for Third party ATM Switch Application Service Providers
December 31, 2019
Constitution of Board of Management (BoM) in Primary (Urban) Co-operative Banks (UCBs)
December 31, 2019
Extension of relaxation on the guidelines to NBFCs on securitisation transactions
Circulars
December 10, 2019
Review of investment norms for mutual funds for investment in Debt and Money Market Instruments
December 11, 2019
Filing of Offer Documents under Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
December 16, 2019
Management and advisory services by AMCs to Foreign Portfolio Investors
December 24, 2019
Guidelines for filing of placement memorandum
December 27, 2019
Measures to strengthen the conduct of Investment Advisers (IA)
The Verdict
Cyrus Mistry
and Tata Group
On 10th January 2020, the Supreme Court of India ordered a stay on a National Company law appellate Tribunal (NCLAT) order that reinstated Cyrus Mistry as executive chairman of Tata Sons. In the backdrop of the latest twist in the Cyrus Mistry Vs Tata Sons case, a look at the near 2-year saga that has led to the present situation.
Go Figure
Data Breach:
The Publicity of Privacy
The issue of data breach has become rampant in the last few years across the corporates posing a threat to confidentiality. A look at the numbers.
Lawtitude
China’s debt-trap diplomacy-
A threat to Indian peripheral relations
Debt trap policy seems to be China’s new defence power as the country uses economic aggression to establish its supremacy the world over.
Legal-ease
Legal words that are not as difficult as they sound. Know their meaning and use them appropriately!
Iqbal dawa
Confession of judgement
Janus-faced
An argument looking in both directions at the same time, eg urging jurors not to be swayed by sympathy, but adding that any sympathy should be in favor of the arguing counsel’s client.
Kalendarium
In Civil law, a calendars book of accounts; memorandum-book, or debt-book; a book in which accounts were kept of moneys loaned out on interest.
Labor a Jury
Tamper with a jury; to endeavor to influence them in their verdict, or their verdict generally. Jury tampering is a crime.
Infographic
Acts in 2019
The last couple of years have probably been period where maximum legislation were created. Laws which addressed areas never before addressed. An illustration on the same.
Lawlipop
Important legal and other news having a bearing on society depicted in a fun quirky way!
IPC, CrPC set to change to ensure speedy justice
AI in Supreme Court
(P)Review
Your regular dose of a movie, TV show and a book all based on law to keep you entertained and thinking at the same time!
Movie
A Civil Action (1998)
A 1998 movie based on a book of the same name, the plot of the movie and the book is a class action
suit that is fought by a small time lawyer Jan Schlichtmann (played by John Travolta) in Massachusetts who originally takes up the case with an intention to get famous. But when he realizes that local tanneries run by giant corporation are releasing toxins into the water bodies that are killing children, then Jan and his fellow partner get into the thick of action and file a class action suit. Efforts by attorney (Robert Duvall) representing the corporations to offer a huge settlement fall through, the case is dismissed, and the Jan and his partner get back to living a near bankrupt life. However, based on Jan’s work on the case the environment enforcement protection agency takes up the case and finding merit in Jan’s findings, orders the corporations to pay huge sums of compensation and also fund the clan up of the water bodies. Justice is finally served.
Book/Novel
Judgement Calls
by Alafair Burke
Alafair Burke is a Lawyer and international bestselling author. In her debut 2003 novel, she brings alive her own experiences of being a lawyer. Her novel centres around a strong and just woman deputy district attorney of drugs and vice division. What appears to be straight case of attack / assault on a 13 year old girls actually lead to a grizzly world of drugs, murder and under age prostitution racket involving a serial killer. In the process she reaches her own judgment – both in professional and personal life. The novel was touted as brash, bold and new age style of fiction criminal writing.
TV Series
The Practice (1997-2004)
One of the most successful television legal shows from the house of David E Kelly (former attorney, producer and director of several epic legal TV shows), The practice is an American legal drama that centres around a Boston legal firm and their partners. The tussle between each of their professional ethics and personal ambitions interspersed with comedy and humanity make this Emmy award winning series a must watch.
Common sense often makes good law – William O. Douglas
Readers' Corner
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