On 25th March, 2020, the entire country went into a lockdown as directed by the Central Government in order to contain the spread of the novel coronavirus (Covid-19). As a precautionary measure, the courts, the Hon’ble National Company Law Tribunal included, closed its doors to any fresh filings and accordingly, hearings were curtailed from 16th March, 2020 onwards.
There was a time when food, textiles and petroleum were considered among essential commodities. Laptops, mobile phones and webcams may well replace them as essential commodities. Essential for survival. Join in for our latest edition of the Law Tree even as the nation is peaking in its combat with is neighbour that introduced the virus and intruded our land border - China.
SEBI: Treading the middle path
With the onset of Covid 19 in India and the consequent mammoth India lockdown, businesses in the country went into a slump. A series of measures were announced by the Indian Government through various regulators. Major relaxations were introduced by the Securities and Exchange Board of India (SEBI). A look at the various notification issued by SEBI in light of the Covid pandemic.
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
State Bank of India v. Enfield Solar Energy Ltd. 354 / 2018
To initiate CIRP against the Corporate Debtor
Bookitfree.com Pvt Ltd. v. Ajanta Offset & Packaging Ltd. & Ors. 60 / 2020
Application disposed, as CIRP against the corporate debtor already initiated
Langlai Tea and Industries Ltd., Mr. Sanjay Kumar Agrawal v. State Bank of India and Others 10 / 2019
The Application IA No. 03 of 2020 filed by RP for approval of Resolution Plan has been allowed by the Tribunal
Governance in Indian Commercial Banks: Discussion Paper-RBI
On 12th June 2020, the Reserve Bank of India (RBI) made available to the public, a discussion paper on “governance in commercial banks in India”. The paper seeks to set higher aspirational governance standards for entities engaged in financial intermediation. The discussion paper is open for public comments on or before 15th July 2020.
A look at the several suggestions and recommendations for the Board of the Bank’s governance.
Circulars & Notifications
May 23, 2020
COVID-19 – Regulatory Package
May 27, 2020
Cessation of 7.75% Savings (Taxable) Bonds, 2018
May 03, 2020
SEBI Notification on COVID-19 dated May 03, 2020
Circulation of UPSI
In November 2017 certain news articles surfaced in the print media referring to circulation of UPSI through private WhatsApp groups about certain companies’ performance before the Company’s submission to the stock exchanges on which they were listed.
On the basis of news paper reports, Securities and Exchange Board of India (“SEBI”) initiated a preliminary examination in the matter. Search and seizure operations and on further examination, it was found that financial information / data of around 12 companies was leaked in the Whats App group.
Politics of the Pandemic -
It is obvious that the World Health Organization (hereinafter WHO) is currently under a microscope and being a specialized agency of the United Nations that is solely responsible for international public health, the Body is doing all that it can to keep the citizens of the world safe. But, this is not the only reason for it to be under a microscope. The WHO has announced that the Indian Union Health Minister, Dr. Harsh Vardhan is set to take charge as the chairman of the 34 elected-member Executive Board of the WHO from May 22, 2020.
A lawful man; a good and lawful man. A juror.
To have license to settle a litigation amicably; to obtain delay for adjustment.
Kin or kindred
Relation or relationship by blood or consanguinity. Relatives by blood: by birth.
In Civil law, to order, director command. The word jubeo(I order), in a will, was called a “word of direction”, as distinguished from “precatory words”. To assure or promise. To decree or pass a law.
Government bans drones from food delivery
Attention: Legal – ease
Witness for the Prosecution (1957)
A 1957 American classic, this is the first movie adaption of a play of the legendary English detective novelist Agatha Christie. When the affable Leonard Vole (played by Tyrone Power) is arrested for murder of a rich widow who willed Leo her property, there is strong circumstantial evidence to prove he is indeed the murderer. But ailing Barrister Sir Wilfrid Roberts (portrayed brilliantly by Charles Laughton) thinks Leo is innocent. When Barrister Wil speaks to Leo’s wife Christine (Marlene Dietrich), he finds her cold and haughty. However, he does manage to get an ailibi from her. However, events get dramatic when Christine becomes a witness for the prosecution and testifies that Leo indeed was the murdered. Things get even murkier when Barrister Wil receives a letter from an anonymous source about the alleged affair of Christine with another man. Basis that, he argues that Christine had malice in testifying that Leo was a murderer. Basis this argument, the Old Bailey court rules that Leo is innocent. And then Barrister Wilfrid Roberts discovers the truth. Watch the literary brilliance of Agatha Christie unfold theatrically. The movie which received 6 Academy nominations was remade in 1982. Don’t miss!
by Jodi Picoult (2001)
Published in 2001, Plain truth is the seventh novel from the American award winning author Jodi Picoult. The story unfolds on Amish farms. The Amish religion and culture whose origin is traced in Switzerland and Germany are deeply conservative community whose belief and faith is based on God’s call for simple thinking, living helping the needy.
When a dead infant is found on an Amish farm, the police conclude it was a still born child at birth. However, when they investigate deeper, they find minute yet stark evidence on the body of the infant that it was a murder. Immediately, the baby’s mother Katie is charged with murder. But Katie denies even being pregnant. Ellie a lawyer and distant relative of Katie reluctantly agrees to defend the case. Meanwhile, a doctor determines that the infant could have died premature due to an infection caused by Katie drinking unpasteurised milk from the Amish farm. With conflicting statements and evidence, it is upto Ellie to prove the innocence (or otherwise) of Katie. Read the novel to know the finale.
City Homicide (2007-2011)
If you are a lover of crime thrillers and detective investigation, then you must watch this Australian legal drama series set in Melbourne. City Homicide centres on homicide detectives, their equation with their senior officers and how and they solve murder cases and ensure justice is delivered. With a total of 4 seasons and 1 additional season with miniseries (titled the Great Honour), the series telecast a total of 84 episodes over 5 seasons and received commercial and critical acclaim.