On 9 September 2024, the Ministry of Corporate Affairs has notified several provisions of the Competition (Amendment) Act, 2023 along with the related rules and regulations including introduction of the ‘deal value threshold’. In this update, we have summarized some of the key changes brought about in the merger control regime

As per reports[i], India Market Capitalization accounted for USD 3,840.5 billion in September 2023 making it the world’s fourth largest market by value, surpassed only by the United States, China, and Japan. However, increased investor participation requires enhanced investor protection as well. In 2004, the Indian securities market regulator, SEBI, had issued comprehensive guidelines for […]

Introduction In 2018, section 12A[i] was introduced in the Insolvency and Bankruptcy Code, 2016 (Code), to provide statutory recognition to settlement between the parties after the application to initiate the corporate insolvency resolution process (CIRP) has been admitted and allow withdrawal of the insolvency application. As of 31 March 2023,[ii], about 848 CIRPs have been […]

Introduction The Insolvency and Bankruptcy Code, 2016 (Code) aimed to bring a paradigm shift in the insolvency and bankruptcy laws in India by making it more creditor friendly and by facilitating the revival of financially distressed companies. The architects of the Code pre-empted the possibility of misuse of the Code to fraudulently initiate insolvency / […]

Introduction The Insolvency and Bankruptcy Code, 2016 (Code), in its original form, did not include provisions with respect to withdrawal of an application for the initiation of corporate insolvency resolution process (CIRP). However, pursuant to various judicial pronouncements[i], Section 12A was inserted[ii] in the Code permitting withdrawal of CIRP with the approval of 90% voting […]

Introduction In India, prior to the Insolvency and Bankruptcy Code, 2016 (Code), insolvency proceedings against individuals used to be governed by the Presidency Towns Insolvency Act, 1909 and the Provincial Insolvency Act, 1920. While, the Presidency Towns Insolvency Act, 1909 was applicable to the erstwhile presidency towns such as Calcutta, Bombay and Madras, the Provincial […]

Introduction The primary object of the Insolvency and Bankruptcy Code, 2016 (Code) is the revival of the corporate debtor undergoing insolvency process and to keep it running as a going concern. To achieve this objective, the Code prescribes the imposition of a moratorium upon initiation of corporate insolvency resolution process and casts a duty on […]

Introduction The Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act) was enacted to ensure timely and smooth flow of credit to small and medium enterprises while promoting, developing and enhancing the competitiveness of micro, small and medium enterprises. This came at a time when the Arbitration and Conciliation Act, 1996 (Arbitration Act) had […]

In 2005, the Government of India had constituted an expert committee headed by Dr. J.J. Irani to advise on revising and modernizing the Companies Act, 1956. The committee in its report (JJ Irani Report)[i] gave its views on various issues including on appointment, duties and obligations of the Key Managerial Personnel (KMP). Pursuant to the recommendations […]

The aim of a legal system in any society is the efficient settlement of disputes, be it through the courts of law, or an alternative dispute resolution (ADR) mechanism such as arbitration, mediation, conciliation, etc. These ADR mechanisms have been prevalent in India since ancient times and have assisted in the resolution of disputes relating to family, […]

The Insolvency and Bankruptcy Code (Code) provides the right to a financial creditor to make an application to the National Company Law Tribunal (NCLT) for initiation of corporate insolvency resolution process (CIRP) against a corporate debtor in the event the debtor fails to repay its debt owed to the creditor. The Code as well as […]

We are pleased to announce that Acuity Law acted as the legal advisor to BL Taparia Family Office in its follow-on investment in Arcatron Mobility (Arcatron). This investment round was led by OrbiMed, a global healthcare-focused private equity firm. To read more about the transaction please click here.  Arcatron under the brand “Frido” designs mobility products, […]

We are pleased to announce that Acuity Law acted as the legal advisor to BL Taparia Family Office in its follow-on investment in Arcatron Mobility (Arcatron). This investment round was led by OrbiMed, a global healthcare-focused private equity firm. To read more about the transaction please click here.  Arcatron under the brand “Frido” designs mobility products, […]

We are pleased to announce that Acuity Law acted as the legal advisor to NABVENTURES Limited and NABVENTURES FUND I (together referred to as “NABVENTURES”) in its investment in Dr Jackfruit India Private Limited (operating under the brand name of “Beyond Snack”). NABVENTURES invested approximately USD 3.5 million in this funding round. To read more […]

We are very happy to share that we represented Vivaldis Health and Foods Private Limited and its promoters in a transaction, the details of which are available here. Other coverage of the deal By Business Standard – Available here By Mint – Available here By CNBC – Available here By Zee Business – Available here The transaction was led by Souvik Ganguly.