Corporate Law

Clauses related to representations, warranties and indemnifications are widely negotiated clauses of commercial contracts especially in M&A transactions. The interests of the parties to a contract typically do not align with respect to the representation and warranties clause of the contract, which usually comprises a major chunk of the agreement. ...

Partnerships in India are governed by the Indian Partnership Act, 1932 ("Act"). The Act defines partnership as 'The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'. The Act while laying down the provisions with respect to rights and duties of the partners also details the consequences of retirement of a partner and dissolution of a partnership firm....

On October 02, 2006, the Government of India brought into effect, the Micro, Small and Medium Enterprises Development Act, 2006 (“Act”) for facilitating the promotion, development and enhancing the competitiveness of micro small and medium enterprises. Through Section 7 of the Act, the criteria of micro, small and medium enterprises was defined....

In India, foreign investments through equity instruments (other than share warrants) are regulated in accordance with the terms of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (“NDI Rules”). A recent amendment to the NDI Rules has clarified that any acquisition of shares by foreign investors pursuant to renunciation of rights by a resident will be subject to the pricing guidelines under the Foreign Exchange Management Act, 1999 (“FEMA”)....

In its guidelines issued on May 18, 2020, the Ministry of Health and Family Welfare ("MoHFW") has outlined preventive and response measures to be observed in workplace settings to contain the spread of COVID – 19 ("Guidelines"). ...

Aimed at boosting the economy amidst the ongoing Covid – 19 pandemic, several States in India have recently come out with ordinance and notifications containing exemptions from compliance with certain labour laws. Such suspension has been sought to give more flexibility to businesses and employers in order to help curb the effects of the Covid – 19 mandated lockdown....

The Payment of Gratuity Act, 1972 ("Act") as a labour welfare legislation was enacted to provide a monetary benefit to an employee after retirement. It lays down the rules and regulations for applicability, calculation and payment of gratuity to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops or other establishments. ...

The Government of India has recently amended its Foreign Direct Investment Policy ("FDI Policy") and barred automatic investment into India by its neighbouring countries. A press release[1] dated April 17th, 2020, ("Press Release") issued by the Department for Promotion of Industry and Internal Trade (DPIIT) has revised the FDI Policy to curb opportunistic takeovers or acquisitions of Indian companies in the aftermath of the novel coronavirus outbreak and the looming economic crisis....

In the wake of the prevailing Covid – 19 pandemic and subsequent government lockdown in India, the Ministry of Corporate Affairs (“MCA“) has been playing a vital role in implementing several relaxations and directives while taking cognizance of the public health issue before us. ...