Regulatory Update: Karnataka Land Reforms Act – Direct Permission To Industries To Purchase Agricultural Land
A. Introduction: On April 27, 2020, the State of Karnataka enacted an amendment (“Amendment Act”) to Section 109 of the Karnataka Land Reforms Act,1961 (“KLR Act”). To those unaware of land laws in Karnataka, Section 109 of the KLR Act provides for certain exemptions from the provisions of Sections 63, 79A, 79B and 80 i.e.,Read More
A. Introduction: A recent adjudication order (Order) of Securities and Exchange Board of India (SEBI), in the matter of Yes Bank Limited (YBL), clarifies SEBI’s view on what constitutes an ‘encumbrance’ on shares, bringing within its ambit, any promoter covenants that are entered into to maintain ‘cover ratio’ or ‘borrowing cap’, as they have anRead More
A. Introduction: After governmental restrictions on movement of people and closure of commercial establishments in India by invoking provisions of the Disaster Management Act, 2005, several tenants have been raising questions on whether rent is payable under their lease deeds and whether governmental restrictions can amount to force majeure for the limited purpose of paymentRead More
A. Introduction: Given the unprecedented crisis that all countries are facing globally, is India too (much like other countries such as the US)moving inwards and backwards? From the reading of the FDI press note 3 (“PN3, which is yet to come into effect) it looks like India is playing cautious, keeping one close eye onRead More
Covid-19: Financing Transactions, Defaults In Debt. Repayments – Where Does The Judiciary’s Sentiment Lie?
A. Introduction: With the outbreak of COVID-19 being widespread and the number of effected people only increasing on a daily basis, measures, like the country wide lockdown, has been taken by the Government of India. The outbreak has been unprecedented and the measures taken to control the same have been drastic. Given the circumstances variousRead More