The National Company Law Appellate Tribunal, New Delhi (“NCLAT”), vide order dated 13 May 2024, has dismissed an appeal filed by Mr. Maneesh Kumar Singh (the “Appellant”), a suspended director of Advantage Overseas Private Limited (“AOPL”). This appeal was filed against an order dated 10 November 2023, passed by the National Company Law Tribunal, Mumbai (“NCLT”). Vide the said order, the NCLT had admitted a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), filed by the State Bank of India (“SBI”), thereby initiating the corporate insolvency resolution process against AOPL. Our Disputes Team Comprised Partner – Varghese Thomas, Divyam Agarwal and Fatema Dalal Kachwalla, Principal Associate – Pallavi Kumar, Senior Associate – Ahsan Allana, Associate – Mayank Ratnaparkhe. Read more: https://lnkd.in/gZYD-q-7 #jsa #leadinglawfirm #leadinglawyers #disputesalert #NCLAT
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JSA, the Knowledge Partner for UKIBC’s Ease of Doing Business (EoDB) Working Group, hosted the meeting of the Group at its Mumbai Office (One Lodha Place), featuring leaders from top UK Companies doing business in India. Our Partner, Sandeep Mehta, anchored the discussion, briefly outlining the progress made on EoDB front, opportunities emerging in India, and areas needing further policy and legal reforms to enable trade and catalyse UK investments into India. #jsa #leadinglawyers #leadinglawfirm #uk #india #investment
UKIBC’s Kevin McCole and Yashodhara D. hosted our second closed-door roundtable with key UK members on ease of doing business and further reforms to catalyse UK investments into India. We thank JSA, knowledge partner for UKIBC’s EoDB Working Group for hosting us and the very insightful presentation and expertise on key regulatory developments in India by Sandeep Mehta, Partner, JSA. The UKIBC has a long-standing dialogue with the Indian government and major state governments on India’s investment facilitation and reform agenda – and we look forward to continuing these discussions with inputs from our members representing leading UK investors in the country. Thank you to the team at JSA for their collaboration in this initiative Megha Irani Rajesh G. Pal Sandeep Mehta Rahul Gossain Prannoy Semwal
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JSA advised the promoters of Spalon India Private Limited (Spalon) in connection with their stake sale in Spalon to JCB Salons Private Limited. Our Transaction Team Comprised the Lead Partner – Varun Sriram and Associate – Nithyashree Venkatesh. Read more: https://lnkd.in/gUP2CJHX #jsa #leadinglawfirm #leadinglawyers #saleofstake
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JSA Prism | Employment | July 2024 Karnataka’s proposed bill for enhancing rights and protection of platform-based gig workers Recently, the Labour Department, Government of Karnataka released the Karnataka Platform based Gig Workers (Social Security and Welfare) Bill, 2024, aimed at protecting rights of platform-based gig workers in Karnataka. Once enacted, Karnataka will follow Rajasthan in becoming the second Indian State implementing regulations tailored to the welfare of these workers. While the requirements under the draft bill may impose onerous compliances on aggregators, it signifies a move towards collective bargaining and enhancing greater protections for platform-based gig workers in Karnataka. The draft bill reflects the evolving landscape of labour rights in India. Stakeholders have been encouraged to submit suggestions or objections on the draft bill by July 12, 2024, and their feedback will play a crucial role in refining and finalising this draft bill. To read further details, please click here: https://lnkd.in/gZ3fXfwU Gerald (Jerry) Manoharan | Sonakshi Das | Muskan Jain #jsa #legalupdates #employmentlaw #leadinglawyers #leadinglawfirm
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JSA Newsletter | Telecommunications | 17th Edition (April - June 2024) Developments in Telecommunications Laws during April - June, 2024 On June 21, 2024, the Ministry of Communications, through the Department of Communications issued a notification to enforce selected provisions of the Telecommunications Act, 2023 with effect from June 26, 2024. Other recent significant developments in the sector included: - Use of paper based Know Your Customer (“KYC”) process in exceptional cases - Additional KYC instructions with respect to business connections - Encouraging innovative technologies, services, use cases and business models through regulatory sandbox in digital communication sector - Telecommunication infrastructure sharing, spectrum sharing and spectrum leasing - Directions for the Standards of Quality of Service of Basic Telephone Service (Wireline) and Cellular Mobile Telephone Service Regulations, 2009, regarding the submission of details of base stations - Telecom Regulatory Authority of India (“TRAI”) – Meeting of Joint Committee of Regulators - TRAI meeting with Access Providers, RBI, SEBI, IRDAI, banks and other financial entities - Allocation of separate numbering series exclusively for service and transactional voice calls as per Telecom Commercial Communications Consumer Preference Regulation Act, 2018 (“TCCCPR”) notified under TRAI Act, 1997 - Directions for the submission of performance monitoring report under the TCCCPR - Clarification in respect of use of 10 (ten) digit Subscriber Identity Module (SIM) in machine-to-machine (“M2M”) Communication - Extension of registration period of unregistered entities providing M2M services and/or wireless personal area network/wireless local area network connectivity for M2M services - Temporary suspension of Unstructured Supplementary Service Data based call forwarding facility - Norms, guidelines and procedures for implementation of Indian Space Policy-2023 in respect of authorization of space activities - Telecommunication Consumers Education and Protection Fund (Sixth Amendment) Regulations, 2024 - Recommendations on Inputs for Formulation of National Broadcasting Policy – 2024 - Implementation of the Telecommunication Mobile Number Portability (Ninth Amendment) Regulations, 2024 For further details, please click here: https://lnkd.in/gw5VDeYw Tony Verghese | Radhika Gupta| Neethika Manoj #jsa #legalupdates #broadcasting #telecom #telecommunications #leadinglawyers #leadinglawfirm
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JSA Prism | Climate Change | July 2024 New scheme guidelines for funding of testing facilities and support for standards development for green hydrogen The Ministry of New and Renewable Energy, Government of India on July 4, 2024, notified scheme guidelines for funding of testing facilities, infrastructure and institutional support for development of standards and regulatory framework (“Scheme”) with a budgetary outlay of INR 200,00,00,000 (Indian Rupees two hundred crores) till financial year 2025-2026. The objective of the Scheme is, inter alia, to create new facilities to test, validate and certify the components, technologies and processes being used in the green hydrogen value chain as well as identify gaps in the existing testing facilities. The Scheme and the funding support proposed is a lucrative step towards fostering and enhancing participation from the private and government entities for setting up test facilities in the green hydrogen sector. To read further details, please click here: https://lnkd.in/gdPCq_r6 Venkatesh Raman Prasad | Ashish Suman | Ashwin Nayar | Shruti Maheshwari #jsa #leadinglawfirm #leadinglawyers #legalupdates #climatechange #prism
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Our Partner, Sajai Singh, has authored an article for CNBC-TV18 titled, “AI's Global Surge — how to navigate the balance between innovation and regulation”. AI is transforming businesses, but its rapid growth has sparked concerns. Debates rage on how to regulate AI ethically. The EU leads the charge with its AI Act, classifying AI risks and setting compliance levels. This trend is likely to be followed globally, with challenges remaining but focusing on balancing innovation with consumer safety. Please click here to read the article: https://lnkd.in/drDPAKvA #jsa #leadinglawfirm #leadinglawyers #ai
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JSA advised Arya.ag on its latest funding round of INR 242.36 crore (USD 29.2 million) from Blue Earth Capital, Asia Impact, and Quona Capital. Our Transaction Team Comprised Lead Partner – Siddharth Mody, Partner – Rahul Deodhar and Senior Associate – Alister Sequeira. Read more: https://lnkd.in/gG4YZZv5 #jsa #leadinglawfirm #leadinglawyers #dealalert #funding
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JSA represented VIZAG HOSPITAL AND CANCER RESEARCH CENTRE PVT LTD (“Vizag Hospital”) and its shareholders in a transaction involving proposed sale of shares in Vizag Hospital to HealthCare Global Enterprises Limited (“HCG”), for an Enterprise Value of INR 4,140 Mn. Our Transaction Team Comprised Lead Partner – Varun Sriram, Principal Associate – Varsha Srinivasan and Associate – Nandini Menon V. Read more: https://lnkd.in/g5vMwm7e #jsa #leadinglawfirm #leadinglawyers #medical #dealalert
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JSA Newsletter | Competition Law | June 2024 The economy today is developing at an exponential rate and competition law is adapting quickly to keep pace with these changes. The Competition Commission of India (“CCI”) is also proactively reviewing mergers and acquisitions and closely monitoring business practices of companies to ensure compliance with competition law. To this end, the CCI has passed several notable decisions in the month of June 2024. Developments in Competition Law during June 2024 - Madras High Court quashes CCI investigation against MRF Limited for lack of transparency in proceedings - CCI dismisses complaint against Google for alleged abuse of dominant position - Government appoints Mr. Inder Pal Singh Bindra as the new secretary of CCI - CCI approves certain notable combinations including: - acquisition of additional shareholding of Thyssenkrupp Industries India Private Limited by Protos Engineering Company Private Limited and Paharpur Towers Limited - acquisition of additional shareholding of Max Life Insurance Company Limited by Axis Bank Limited - acquisition of shareholding of MG Motor India Private Limited by IndoEdge India Fund- LVF Scheme - acquisition of shareholding of Glenmark Life Sciences Limited by Nirma Limited - acquisition of shareholding of API Holdings Limited by MEMG family Office LLP belonging to the Pai family group and 360 ONE Private Equity Fund - acquisition of certain shareholding of Vastu Housing Finance Corporation Limited by TA FDI Investors Limited under Green Channel For further details, please click here: https://lnkd.in/gMKHCpva Vaibhav Choukse | Ela Bali | Aditi Khanna | Prashasti S. #jsa #legalupdates #newsletter #cci #competitionlaw #supremecourt #law #india #leadinglawyers #leadinglawfirm
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Our Environment Disputes and ESG Partner, Nawneet Vibhaw (नवनीत विभव) was invited as a plenary speaker at the 21st International Union For Conservation Of Nature (IUCN) Academy of Environmental Law Colloquium, hosted by Gujarat National Law University, Gandhinagar. Nawneet spoke about the innovations and challenges in Indian Environmental Law by highlighting the recent amendments, innovative policies being framed by the government to promote sustainability and meet its environment and climate change commitments and the challenges that are required to be addressed for environmental protection in India. #IUCN #climatechange #environmentallaw #sustainability #IUCNAEL #JSA #leadinglawfirm #leadinglawyers
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