By Nitin Jain Indian capital markets have evolved faster than the legal systems designed to regulate them. With the Securities and Exchange Board of India (SEBI) introducing automated price-band widening during pre-open call auctions alongside instant PAN-based validation, the regulatory apparatus is now entirely digital, instantaneous, and rigid. For high-frequency trading (HFT) desks, algorithmic funds,... Continue Reading →
By- Archana Balasubramanian Introduction The Shareholder Agreement imposes GAAP-compliant monthly reporting on the company. The finance team discovers its inability to comply forty-five days post-close. No party examined the information rights clause before signing. The constraint did not emerge from bad faith; it emerged from inattention. Governance documents routinely contain obligations that senior management never... Continue Reading →
By- Nitin Jain The NARCL Sanction Letter functions as a deferred ownership-transfer instrument. Boards that read it as a loan extension mischaracterise the underlying legal event. Two operative clauses determine the company's governance trajectory immediately. Two clauses make this visible immediately. The first offers a three-year repayment window. The second demands 100 percent promoter shareholding... Continue Reading →
By Archana Balasubramanian Introduction The problem surfaces during legal due diligence for a follow-on transaction. A new lead investor issues a term sheet with conditions. The conditions require simplifying the cap table first. The GC pulls a three-year-old Shareholder Agreement. A minority investor holds a consent right over equity issuances. The company cannot take the... Continue Reading →
By Nitin Jain Section 105 of BNS renders every compliance manual immediately irrelevant. Device seizure signals a criminal investigation, not a regulatory inquiry. The Board's paperwork does not address the Investigating Officer's mandate. The compliance shield shatters at the moment of FIR registration. Criminal exposure for Directors ceased being theoretical after 2024. The shift in... Continue Reading →
By: Nitin Jain Introduction The governance problem in the growing succession battles begins in the boardroom of a high-performing subsidiary or the private office of a family-run holding company. It starts with a commercial request where a branch of the family wants to monetize their stake or a younger member asks for an audit to... Continue Reading →
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