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Knowledge Series – India Update Part 1 of 2019 This iteration of ‘India Update – Part 1 of 2019’ examines the emerging landscape with respect to arbitrations in India and discusses taxation concerns pertaining to the fair market value of acquired shares, the emerging interplay between IBC and India’s Income Tax Act, as well as increased scrutiny of related party transactions. Updated requirements for the issue of capital and disclosure are analysed in detail, in addition to the latest press note on the e-commerce sector, which has been widely debated in the business media. We also discuss the increasing relevance of Bureau of Indian Standards and certain key aspects of hotel acquisitions in the country. We conclude by delving into the risk faced by nominee directors and concerns in the industry with respect to information exchange with competitors, which is looked at critically by the competition regulators globally. Our continuing endeavour is to present a succinct summary ...

IBC | Case Law Alert | Exclusion of certain period from 270 days – NCLAT illustrates grounds for such exclusions   view of various cases being dealt by the National Company Law Tribunals (“NCLT”) across various jurisdictions to allow exclusion of certain period from the 270 days period (being the maximum period for completion of the ), the National Company Law Appellate Tribunal (“NCLAT”) has dealt with the question in the matter of Quinn Logistics India Private Limited v/s Mack Soft Tech Private Limited, dated 8 May 2018 (order available here), and held that if an application is filed by the ‘Resolution Professional’ or the ‘Committee of Creditors’ or ‘any aggrieved person’ for justified reasons, it is always open to the NCLTs/NCLAT to ‘exclude certain period’ for the purpose of counting the total period of 270 days, if the facts and circumstances justify exclusion, Tandoor Manufacturer in unforeseen circumstances. The NLCAT has, however, stated a caution that after exclusion...